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Balboa Capital Completes $251MM Securitization

September 28, 2016, 07:10 AM
Filed Under: Industry News

Balboa Capital, a technology-driven financing company that offers equipment financing and alternative business loan products, announced that it has completed a $251 million securitization of equipment lease and loan backed notes, its fourth and largest transaction to date. Credit Suisse acted as the sole initial purchaser of the notes, and the transaction was rated by both DBRS and Moody’s Investors Service, Inc. Balboa Capital will use this additional capacity to provide growth capital to small businesses, middle market companies, franchises, and equipment vendor businesses throughout the United States.

“We are pleased to have secured the largest securitization in our company’s history, and to have it rated by two leading credit rating companies,” said Robert Rasmussen, Chief Operating Officer at Balboa Capital. “This demonstrates the strength of our business model and financial performance.” The securitization comes on the back of strong growth at Balboa Capital. The company has experienced a surge in business this year in each of the channels it serves. “This new capital will enable us to further support business owners in every industry who need fast, hassle-free capital to grow and expand their operations,” said Mr. Rasmussen.

Balboa Capital recently launched an all-new website that offers the ultimate user-friendly experience on computers and mobile devices. Calculators provide instant estimates, paperless applications can be completed and submitted in a matter of minutes, and sophisticated credit scoring technology provides instant decisions. This efficiency allows business owners to secure funding quickly; equipment financing programs of up to $250,000 can be funded on the same day, and small business loans of up to $250,000 are provided in as little as three days.

Balboa Capital also enhanced the robust capabilities of Portal360sm, which is the company’s secure online sales management system for equipment vendors. e-Signature integration, private label program compatibility, automated credit decisions and real-time transaction updates complement Portal360’s comprehensive reporting features. Portal360 modernizes a variety of sales-related tasks for equipment vendors so they can work more efficiently, and all of the platform’s tools and features can be accessed from any mobile device.

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