Balboa Capital, a prominent equipment leasing company that caters to the needs of small- to mid-sized businesses nationwide, offers a variety of financing programs to help owners obtain the equipment they require to keep their companies running. The following is a brief overview of the equipment leasing programs available at Balboa Capital.
Fair Market Value – Commonly referred to as a True Lease, the Fair Market Value Lease represents one of the most common leases clients receive from Balboa Capital. The Fair Market Value Lease offers clients a number of flexible options at the end of the lease, such as the decision to either return the equipment or purchase it at fair market value. This type of lease is most widely used among clients seeking equipment that rapidly loses its value after being used.
Dollar Buyout – Another common lease offered at Balboa Capital, the Dollar Buyout Lease is often referred to as the Capital Lease. With the Dollar Buyout Lease, the client retains the ability to purchase the equipment outright at the conclusion of the lease for a price of one dollar. For customers wishing to keep the equipment at the end of the lease, the Dollar Buyout Lease remains a popular choice.
Business Expansion – For small- to mid-sized businesses attempting to open a new location as an expansion, Balboa Capital can provide up to $35,000 in equipment financing for the secondary location. When submitting an application for a business expansion lease, applicants must own the new property for a minimum of five years and use it for the same type of business as the original location. Clients seeking financing in excess of $35,000 must submit a full financial package and meet certain credit approval standards.
New Business – Through its New Business Program, Balboa Capital can provide up to $15,000 in equipment financing for business that have been operating for less than two years. Businesses in their second year of operation can qualify for an additional $5,000 in financing, provided they submit personal information and guarantees and meet certain credit requirements.
Sale Lease Back – For clients who have recently purchased equipment, Balboa Capital can help convert the equipment purchase into a lease. By facilitating low monthly payments on equipment acquired within the last 90 days, Balboa Capital helps small- to mid-sized business owners recoup their investment and receive cash immediately.