Balboa Capital Closes $50 Million Corp. Note Financing

Equipment financer, SMB, and franchise financier Balboa Capital, closed a $50 million corporate note financing from a “consortium of prominent, U.S.-based institutional investors.” The firm said it plans to use the financing to refinance a portion of corporate debt, and to fund working capital.

“This transaction demonstrates the strength of our business and our investors’ support for our strategy and growth potential in 2021 and beyond,” CFO Heather Parker said. “We are well-positioned as one of the largest independent financing companies in the United States and will continue to play a meaningful role in the nation’s economic recovery by helping small businesses access growth capital.”

Brean Capital, LLC served as Balboa Capital’s Exclusive Advisor and Placement Agent in connection with this transaction.

Last October, the firm secured its seventh equipment asset-backed securitization valued at $201 million. “This is another step toward our key business objectives, which are to increase our financial flexibility, continue our growth, and maintain sufficient capital during any economic condition,” Parker said.

Kevin Travers was a Reporter at deBanked.