Balboa Capital Corporation
An American equipment-financing and leasing company serving small businesses and selected franchise operators.
Last updated August 25, 2026
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Overview
Balboa Capital Corporation is an American commercial finance company specializing in equipment leasing, equipment loans, and related financing for small businesses. The company was established in 1988 by Patrick Byrne and Shawn Giffin, who were 22 years old and had graduated from the University of Arizona the previous year. Its name refers to Balboa Island, where the business maintained its first office. The company reportedly began with a $4,000 investment and developed from a small leasing operation into a sizable privately held lender focused on business equipment and working-capital needs. Balboa's core proposition has been to provide relatively accessible financing for companies that need to acquire equipment without paying the full purchase price upfront. Its products have included lease arrangements and loans, with a particular emphasis on small-business equipment financing. The company has generally offered loans of up to approximately $250,000, with terms reported to range from three months to two years. Its lending has included unsecured products, although specific underwriting terms and eligibility criteria can vary by product and applicant. Balboa has also financed expansion activity for franchise businesses, including operators associated with Domino's Pizza and McAlister's Deli. The company expanded geographically as its volume grew. In 2014, it opened an office in Jacksonville, Florida, to strengthen its East Coast presence. Other locations reported in connection with the business included Costa Mesa, Scottsdale, San Ramon, and Spokane. A 2015 report described substantial employee and business growth during the preceding year and quarter, reflecting the company's expansion during a period when alternative and non-bank financing providers were gaining attention among small businesses. Balboa received recognition for its growth and entrepreneurship. It ranked on Inc. magazine's lists of the fastest-growing private companies in 1993 and 1997, and co-founder Patrick Byrne received an entrepreneurship award from Ernst & Young in 1997. In 2018, Business.com identified Balboa as its preferred alternative lender for small businesses. These distinctions positioned the company as a growth-oriented specialist in the U.S. small-business finance market rather than as a consumer bank or a broadly diversified financial institution. In December 2021, Ameris Bank, a subsidiary of Ameris Bancorp, acquired Balboa Capital Corporation. The transaction brought Balboa into a bank-affiliated ownership structure while preserving its identity as a commercial finance brand. Balboa's historical business scope, product details, and post-acquisition operating structure should be checked against current Ameris disclosures because publicly available reference material describes the company most extensively before the acquisition.
History
Balboa Capital Corporation began operations in 1988 as an equipment-leasing business founded by Patrick Byrne and Shawn Giffin. Both founders were 22 years old and had recently graduated from the University of Arizona. The company took its name from Balboa Island, the location of its first office, and reportedly started with an investment of $4,000. Its early business model centered on leasing equipment to commercial customers. Over time, Balboa broadened its offering to include loans and other financing arrangements, concentrating on small businesses that needed to purchase equipment or fund expansion. The company became particularly associated with relatively short-term equipment loans, generally reported as having limits of up to approximately $250,000 and terms between three months and two years. Some of these products were unsecured. Balboa also developed relationships with franchise operators and participated in financing for nationwide expansion by businesses such as Domino's Pizza and McAlister's Deli. The company's growth was recognized in the 1990s. After reporting very rapid sales growth between 1988 and 1992, it appeared at number 67 on Inc. magazine's 1993 ranking of the fastest-growing private companies in the United States. It appeared again on the publication's 1997 list, at number 108. In the same year, co-founder Patrick Byrne was among Orange County executives recognized with entrepreneurship awards by Ernst & Young. Balboa continued expanding its physical and commercial footprint in the 2010s. Its reported offices included Costa Mesa, Scottsdale, San Ramon, and Spokane. In 2014, the company added a Jacksonville, Florida, office to support East Coast activity. A July 2015 account reported that Balboa had added 155 employees during the previous year and had experienced a 77 percent increase in business during the prior quarter. These figures indicate a period of accelerated growth, although they do not establish the company's current scale or financial performance. The company continued to be presented as an alternative lender for small businesses. In 2018, Business.com selected Balboa as its best alternative lender for small business, reinforcing its market positioning around speed, accessibility, and specialized commercial financing rather than traditional deposit banking. In December 2021, Ameris Bank acquired Balboa Capital Corporation. Ameris Bank operates as a subsidiary of Ameris Bancorp, placing Balboa within a larger banking group. The acquisition is the most significant ownership transition identified in the available reference material. Current leadership, product branding, office footprint, and the extent to which Balboa operates independently after the acquisition are not established by the supplied sources.
- 2021
Acquired by Ameris Bank
[1]Ameris Bank acquires Balboa Capital Corporation in December.
- 2018
Alternative-lender recognition
[1]Business.com names Balboa its best alternative lender for small business.
- 2014
Jacksonville office opens
[1]Balboa opens a Jacksonville, Florida, office to expand its East Coast business.
- 1997
Second Inc. 500 appearance
[1]The company appears at number 108 on Inc. magazine's growth ranking, while co-founder Patrick Byrne receives an Ernst & Young entrepreneurship award.
- 1993
Inc. 500 recognition
[1]Balboa ranks 67th on Inc. magazine's list of the fastest-growing private companies in the United States.
- 1988
Balboa Capital is founded
[1]Patrick Byrne and Shawn Giffin launch the company as an equipment-leasing business in California.
Products and positioning
A specialized alternative lender focused on accessible equipment finance and leasing for small businesses and franchise operators.
Commercial lending
Equipment financing
Financing intended to help small businesses acquire machinery, vehicles, technology, and other business equipment. Balboa's historical offering emphasized relatively accessible commercial credit, with reported loan amounts commonly capped at approximately $250,000 and terms ranging from three months to two years. The available reference material describes some products as unsecured, but does not provide a complete current underwriting or pricing schedule.
Commercial leasing · 1988
Equipment leasing
The company's original and defining business line. Equipment leasing allows a commercial customer to use required assets through a lease arrangement rather than funding the entire purchase at inception. Balboa developed from this model and later combined leasing with loan products for small-business customers. Specific current lease structures, residual-value policies, and end-of-term options are not established in the supplied sources.
Franchise finance
Franchise expansion financing
Commercial financing used by franchise operators expanding locations or acquiring the equipment needed to open and operate outlets. Balboa has been identified as a lender supporting nationwide franchise expansion involving Domino's Pizza and McAlister's Deli. The reference material does not specify whether these arrangements remain active after Ameris Bank's acquisition.
Brand decisions
2021
Ameris Bank acquisitionM&ABackground
Ameris Bank, a subsidiary of Ameris Bancorp, pursued the acquisition of Balboa Capital as part of a broader banking-group ownership structure.
Action taken
Ameris Bank acquired Balboa Capital Corporation in December 2021.
Aftermath
Balboa became part of the Ameris organization. The available sources do not establish the post-acquisition leadership structure, integration timetable, or changes to the product portfolio.
2014
Expand East Coast coverage through JacksonvilleStrategyBackground
Balboa sought to broaden its geographic reach beyond its established western offices and increase service capacity for East Coast commercial customers.
Action taken
The company opened a fourth office in Jacksonville, Florida.
Aftermath
The available source confirms the office opening but does not provide a later assessment of its financial or operational impact.
Recent events
- 2021
Ameris Bank acquires Balboa Capital[1]
M&A
Ameris Bank, a subsidiary of Ameris Bancorp, acquired Balboa Capital Corporation in December 2021.
- 2015
Balboa Capital reports rapid expansion[1]
Other
A July 2015 report described the addition of 155 employees over the preceding year and significant recent business growth.
- 2014
Balboa Capital opens a Jacksonville office[1]
Other
Balboa Capital opened a fourth office in Jacksonville, Florida, as part of an effort to expand its East Coast business.
Sources1 sources
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