Balboa Capital, a top-rated online lender headquartered in Costa Mesa, California that offers equipment financing and small business loan products, today announced it has successfully completed a $409 million asset-backed securitization (ABS) of small and mid-ticket equipment loans and leases, its sixth and largest transaction to date.
Credit Suisse Securities (USA) LLC and SunTrust Robinson Humphrey, Inc. were initial purchasers of the notes and joint book runners, and Capital One Securities, Inc. was an initial purchaser of the notes and co-manager. In this offering, Balboa Capital issued five classes of notes that were rated by Moody’s Investors Service, Inc. The securitization included $120,000,000 of Class A1 notes, $208,425,000 of Class A2 notes, $38,062,000 of Class B notes, $16,313,000 of Class C notes, and $26,100,000 of Class D notes. Balboa Capital has issued in excess of $1.5 billion in lease and loan backed notes since its first securitization in 2008.
“We are extremely pleased to have completed our sixth and largest securitization,” said Heather Parker, Controller at Balboa Capital. “This is the result of our strong financial performance over the past few years, and our technology-driven financing processes and products that are changing the way small business owners obtain growth capital. This securitization significantly increases our lending capacity, and it will allow us to continue supporting small businesses throughout the United States by providing them with fast, flexible funding to acquire equipment, technology, and vehicles, and to cover the cost of expansion initiatives, inventory, and day-to-day operating expenses.”
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 http://www.balboacapital.com.