Leading direct lender will use proceeds to refinance a portion of corporate debt, and for general working capital purposes.COSTA MESA, Calif., June 9,
Leading direct lender will use proceeds to refinance a portion of corporate debt, and for general working capital purposes.
COSTA MESA, Calif., June 9, 2021 /PRNewswire-PRWeb/ — Balboa Capital, a leading direct lender that offers equipment financing, small business loans and franchise financing, today announced the closing of a $50 million corporate note financing provided by a consortium of prominent, U.S.-based institutional investors. The transaction was assigned a BBB+ rating by a nationally recognized statistical ratings organization. Balboa Capital intends to use the proceeds from the issuance to refinance a portion of corporate debt, and for general working capital purposes.
“This transaction demonstrates the strength of our business and our investors’ support for our strategy and growth potential in 2021 and beyond,” said Heather Parker, Chief Financial Officer at Balboa Capital. “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.”
Balboa Capital’s $50 million corporate note financing comes eight months after the company completed its seventh equipment asset-backed securitization (ABS), a $201 million issuance. “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,” said Ms. Parker.
Brean Capital, LLC served as the Balboa Capital’s Exclusive Advisor and Placement Agent in connection with this transaction. For more information about Brean Capital, LCC, visit https://www.breancapital.com/.
About Balboa Capital
Balboa Capital is a technology-driven financing company that provides business owners with fast, hassle-free solutions to fuel their growth and success. The company specializes in small business loans, equipment financing, commercial financing, equipment vendor financing, and franchise financing. Balboa Capital developed an intuitive online platform that simplifies the entire financing process. Calculators provide instant estimates, applications can be completed and submitted in a matter of minutes, and sophisticated credit scoring technology provides instant decisions. To learn more, visit https://www.balboacapital.com.
Kevan Wilkinson, Balboa Capital, 949-399-6327, firstname.lastname@example.org
SOURCE Balboa Capital