Last reviewed: October 2, 2026
Disclaimer: This review summarizes publicly available information, including customer reviews, forum posts such as Reddit, BBB and Trustpilot listings, court records, regulator actions, and news reports. It is not the opinion of MCAFax. MCAFax cannot confirm or deny any allegations, complaints, or claims described here. Information may be outdated or incomplete. MCAFax is not affiliated with this lender. This is not legal or financial advice. Lenders who believe something is inaccurate can contact info@mcafax.com for review.
Summary verdict
Balboa Capital, based in Costa Mesa, California, now operates as Ameris Bank Equipment Finance; balboacapital.com redirects to the Ameris site (Ameris Bank Equipment Finance). NerdWallet reports loans of $50,000 to $500,000 over 24 months to 5 years for equipment and short-term financing (NerdWallet). NerdWallet rates it "Avoid This Lender" and says it "appears to engage in predatory practices," citing customer reviews about aggressive communication and unclear fees. Those are NerdWallet's views and reviewers' allegations. In 2017 California's Department of Business Oversight entered a consent order with Balboa after it took loan applications while its finance-lender license was revoked for a late annual report (DBO consent order).
Paper Grade: B paper
NerdWallet lists a 620 minimum credit score, 12 months in business and $100,000 in annual revenue (NerdWallet). A credit floor near 620 with equipment and short-term loans fits B paper. Paper grade describes the borrower profile this lender targets, not the lender's quality.
Research-Based Reputation Score: 4.5 / 10 (reputation rank: tied #56 of 72 lenders scored, as of October 2, 2026)
How we got there: start at 5.0, then +0.5 for an A+ BBB rating without accreditation and +1 because BBB lists the business as started in September 1988 (BBB). There is no clean-record point. Then −1 for a settled government action that did not concern borrower treatment: in an August 31, 2017 consent order, California's Commissioner of Business Oversight said Balboa took 70 loan applications after its license was summarily revoked for a late annual report. Balboa agreed to a desist-and-refrain order and a $20,000 administrative penalty, and the license was restored (DBO consent order). Then −0.5 for a BBB customer-review average of 1.57/5 from 14 reviews (BBB reviews) and −0.5 for repeated themes in 9 BBB complaints over three years, including disputed account debits and billing, delays getting title paperwork, and unwanted contact (BBB complaints). NerdWallet says Balboa has been involved in several lawsuits over the past decade; we could not confirm a pending class action, so none is scored (NerdWallet). The total is 4.5.
About the Paper Grade: it reflects only the borrower profile and deal type the lender targets (stated credit, time-in-business and revenue minimums, and product type). It is not a judgment of the lender's quality. A = strong credit (about 625–650+), established businesses, APR-priced loans or lines. B = fair credit (about 600+), short-term or factor-rate products. C = credit about 500–599, younger businesses, MCA or revenue-based, or sales-based platform financing with no credit check. D = minimal credit requirements, very new businesses, stacked positions or high-risk industries. Lawsuits and regulator actions never change the Paper Grade.
About the Research-Based Reputation Score (1–10, half-points): it summarizes public signals and is not the opinion of MCAFax. Every lender starts at 5.0. Points are added for BBB accreditation and an A+ rating, years in business, strong Trustpilot ratings, and a clean record (no regulator orders or court judgments in which the lender itself is a named party). Points are subtracted for a BBB rating of C− or lower (−1), a BBB customer-review average below 2.5/5 (−0.5), recurring complaint themes (−0.5 to −1), and a pending class action (−0.5). Government actions are scored only when the lender itself is a named party: −1 for a settled action not about borrowers, −2 for a regulator consent order with a penalty and no admission, −3 for active enforcement or a final order about borrower treatment, and −5 for an industry ban or court finding of liability. The lowest score, 1.0, is reserved for lenders under an industry ban or a final fraud judgment. Ratings we could not read score zero, and routine collection suits are not scored. Every point applied to this lender is listed above. Ranks are as of the date shown; MCAFax cannot confirm or deny any allegation counted here.
At a glance
| Item | Details |
|---|---|
| Now operating as | Ameris Bank Equipment Finance (Ameris) |
| Amounts / terms | $50,000–$500,000; 24 Months–5 years; APR not disclosed (per NerdWallet) (NerdWallet) |
| Minimums | 620 Credit score, 12 months in business, $100,000 annual revenue (per NerdWallet) (NerdWallet) |
| BBB | Balboa Capital Corporation: A+, not accredited; 1.57/5 from 14 reviews; 9 complaints in 3 years (BBB) |
| Regulatory | California DBO consent order, Aug. 31, 2017; $20,000 penalty; licensing matter (DBO consent order) |
What borrowers and reviewers report
Positive themes: NerdWallet lists fast funding, a simple application and acceptance of fair credit as pros (NerdWallet).
Negative themes: according to NerdWallet, the most-cited reviewer complaints are persistent, aggressive communication, unclear fees and rates, unexpected extra withdrawals, and prepayment-fee confusion (NerdWallet). BBB complainants report disputed debits and slow title releases (BBB complaints).
Reported concerns to plan around
These are allegations or reported experiences, not findings, unless a final order is cited.
- Fees: NerdWallet says fees may include documentation, UCC filing and inspection fees, plus prorated rent and sales tax on equipment deals. Ask for a full fee list and payoff terms in writing (NerdWallet).
Who it may suit, and who may want to skip it
May suit: established businesses with 620+ credit that need equipment financing and will compare offers carefully. May want to skip: businesses that want published rates and fees up front.
What to do next
Been contacted by Balboa Capital (Ameris Bank Equipment Finance)? Report the phone number or email that reached you, and sign up to block unwanted funding calls. → Report a number or email (https://mcafax.com/report?lender=balboa-capital)
Looking for funding? Tell us what you need, and we'll help you compare Balboa Capital (Ameris Bank Equipment Finance) with other funders that fit. → Apply through MCAFax (https://mcafax.com/apply?lender=balboa-capital)
Sources (accessed October 2, 2026)
Ameris Bank Equipment Finance (balboacapital.com redirect): equipmentfinance.amerisbank.com
NerdWallet review, Ameris Bank Equipment Finance (formerly Balboa Capital): https://www.nerdwallet.com/business/loans/reviews/balboa-capital
BBB profile, Balboa Capital Corporation: https://www.bbb.org/us/ca/costa-mesa/profile/small-business-loans/balboa-capital-corporation-1126-13126386
California DBO consent order, Balboa Capital Corporation (2017): https://dfpi.ca.gov/wp-content/uploads/sites/337/2012/02/Balboa-Capital-Corporation-Consent-Order.pdf
Disclaimer: This review summarizes publicly available information, including customer reviews, forum posts such as Reddit, BBB and Trustpilot listings, court records, regulator actions, and news reports. It is not the opinion of MCAFax. MCAFax cannot confirm or deny any allegations, complaints, or claims described here. Information may be outdated or incomplete. MCAFax is not affiliated with this lender. This is not legal or financial advice. Lenders who believe something is inaccurate can contact info@mcafax.com for review.