Balboa Capital Review: Equipment Financing, Requirements and Alternatives

Balboa Capital is an equipment and small-business lender that now operates as Ameris Bank Equipment Finance, a division of Ameris Bank. It is a good fit if your business has 2+ years of history, $100,000+ in annual revenue and a FICO score of 640 or higher: it finances new or used equipment up to $500,000 on an application-only basis and gives decisions within an hour during business hours. If your business is newer, your credit is lower or you need working capital without meeting those minimums, Merchant Fund Express, our recommended funder, reviews your sales and deposits and considers credit from FICO 500+.

We reviewed the company's official website in October 2026. We don't publish ratings or scores; we give you the facts, the pros and cons and the alternatives so you can decide.

What Balboa Capital is today

Balboa Capital built its name financing equipment for small businesses with a short online application. Today its website presents the company as Ameris Bank Equipment Finance and explains that Balboa Capital is a division of Ameris Bank. For you as a customer, that means you are dealing with a bank-owned funder whose office hours are Monday through Friday, 7 a.m. to 4 p.m. Pacific.

Its site lists these products:

• Equipment financing and leasing.
• Commercial financing for middle-market companies.
• Small-business and working capital loans.
• SBA loans from $400,000 to $5 million nationwide.
• Vendor financing for equipment sellers, plus franchise financing.

If an equipment dealer offered you "financing through Balboa," it is probably the vendor program. Ask for the offer directly, in writing, and compare it with others.

The name change doesn't change existing contracts: if you already have Balboa financing, keep checking your statements and the customer portal. If you are reading reviews online, search under both names, Balboa Capital and Ameris Bank Equipment Finance, to get the full picture before you decide.

Amounts and requirements, product by product

One honest note: on the small-business loan page, the requirements box says 2+ years and FICO 640, but the text further down mentions one year in business and FICO 620. Confirm with a representative which one applies to you before anyone pulls your credit.

What are "hard" and "soft" collateral? Hard collateral is physical equipment that holds its value, like machinery or vehicles. Soft collateral is equipment that loses value fast or is hard to resell, like software or some technology. That is why the application-only limit is lower for soft collateral. If you are financing a used machine, our guide to financing used equipment explains what funders look for.

Pros and cons

What we like:

• Decisions within an hour during business hours, and same-day funding if approved, according to its site.
• It finances used equipment, which many banks avoid.
• High application-only amounts with no full financial statements.
• No prepayment penalty on its small-business loans.
• Bank backing and an assigned account manager.

What to weigh:

• Higher minimums than many funders: 2 years, FICO 640 and $100,000 or $300,000 in revenue depending on the product.
• Rates aren't published; they depend on your credit, revenue, amount and term.
• Daily or weekly payments on working capital loans, which squeeze cash flow in slow weeks.
• A personal guarantee on the newer-business programs.
• Its site doesn't mention Spanish-speaking support or ITIN applications.

Before you sign: what to check

We don't invent testimonials or copy reviews. Instead, here is what we recommend checking with Balboa or any equipment funder:

1. Type of contract. Is it a loan (you own the equipment from day one), a lease with a $1 purchase option or a lease with a residual value? It changes what you owe at the end and how you report it on your taxes.
2. Full cost in writing. Get the payment amount, number of payments, documentation fees and any end-of-term payment.
3. Equipment insurance. Nearly every funder requires you to insure the equipment; get a quote before signing.
4. Prepayment. On equipment deals, ask whether you can pay early and whether there is a discount or a penalty.
5. Personal guarantee. Ask whether you are signing as guarantor and what happens if the business closes.

To understand the trade-offs between buying and leasing, read equipment leasing vs. buying, and for the bigger picture, see our roundup of the best equipment financing options.

Balboa Capital alternatives

• Merchant Fund Express reviews your sales and deposits, not just your credit. Decisions often come in 2 to 4 hours, collateral isn't required in most cases, it accepts applicants with an ITIN (no SSN needed) and it offers Spanish-speaking support. Applying is free and doesn't affect your credit.
• Accion Opportunity Fund offers equipment leasing with 100% financing and term loans up to 36 months.
• SBA loans: if you qualify and can wait, they usually cost less. Since March 1, 2026 (SBA Procedural Notice 5000-876626), 100% of the owners of a 7(a) or 504 applicant must be U.S. citizens or nationals. Program details are on SBA.gov.

How to prep your application so it moves fast

Getting a decision in an hour depends a lot on you. Before you apply with Balboa or any equipment funder, gather:

1. The dealer's quote, with make, model, year, serial number if used, price, tax and delivery and installation costs.
2. Your business details: legal name exactly as it appears on your documents, EIN, address and start date.
3. Recent bank statements, in case they want to confirm revenue, especially on large amounts or younger businesses.
4. Tax returns if you are going above the application-only limits or applying for an SBA loan.
5. Proof of insurance or a quote for the policy that will cover the equipment.

Pull your personal credit report before you apply, too. If there is an error, like a debt you paid that still shows open, dispute it first: with a 640 minimum, a few points can decide whether you qualify. Our equipment financing application checklist has the full list. And if a dealer pressures you to sign financing the same day, ask for a day to compare. A serious offer will still be there tomorrow.

Balboa or an alternative? How to decide

• You have 2+ years, FICO 640+ and the equipment holds its resale value: Balboa (Ameris) is a solid option; get its offer and compare it with your bank's.
• Your business is under 2 years old: ask about its program for up to $50,000, or look for a funder that reviews your deposits.
• Your credit is below 640: its published minimums won't work for you; look at options that consider lower scores, such as Merchant Fund Express.
• The equipment is heavy machinery you will use for 10+ years: compare with an SBA 504 if every owner meets the citizenship rule.
• You need working capital more than equipment: compare daily or weekly payments with monthly-payment options, and make sure the payment fits in your worst month.

See how we compare funders on how we rank business funding options. Prefer Spanish? Leer en español.