Balboa Capital closed a $50 million corporate note financing provided by a consortium of U.S.-based institutional investors. A statistical ratings organization assigned the transaction a BBB+ rating. 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,” Heather Parker, CFO at Balboa Capital, 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.”

Balboa Capital’s $50 million corporate note financing comes eight months after the company completed its seventh equipment asset-backed securitization, 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,” Parker said.

Brean Capital served as the Balboa Capital’s exclusive advisor and placement agent in connection with this transaction.