Balboa Capital announced the large expansion of its commercial finance division to accommodate demand and serve middle-market businesses nationwide. The company doubled the size of its commercial financing team and made a significant enhancement to its commercial equipment financing program.
 
“Our commercial financing business is expanding rapidly, and we took the steps necessary to meet the needs of middle-market companies in all industries,” said Don Hansen, Vice President of Balboa Capital’s Commercial Finance Division. “We now have over 20 talented commercial finance managers who work with both existing and prospective customers throughout the country. Our team has extensive knowledge of credit-based and asset-based lending and is dedicated to developing dependable, value-driven equipment financing plans for our customers,” added Mr. Hansen.
 
Balboa Capital’s commercial division works with companies with annual revenues from $10 million to $200 million that need equipment financing ranging from $250,000 to $10 million. The company recently enhanced its commercial financing capabilities by securing a new revolving credit facility from Wells Fargo Capital Finance. “Our new credit facility is the perfect complement to our commercial equipment financing program because it gives us bigger lending power,” said Mr. Hansen. “Sound financing solutions backed by fast, dependable funding are what today’s CFOs and Controllers want, and Balboa Capital delivers.”