The placement agent of notes was Guggenheim Securities, and the transaction was rated by both Standard and Poor’s and DBRS.

David Chiurrazi, chief financial officer at Balboa Capital said: “We are extremely pleased with the positive reception that we received from institutional investors, and with the favorable ratings provided by the leading credit rating agencies. This reflects Balboa Capital’s consistently strong financial standing and business performance.”

He added: “This is Balboa Capital’s first securitization since 2008, and it comes at the perfect time. The company is experiencing rapid growth in each of the channels we serve, and our new securitization enables us to continue meeting the financing demands of small business owners, middle market companies, franchise owners and equipment vendors throughout the United States.”

Balboa Capital is accelerating its growth by offering flexible financing solutions and innovative online tools and resources required of business owners and equipment vendors. In the past six months, the lender has launched an online sales management system for equipment vendors, solidified financing partnerships with five national franchise brands, and added over 50 staff members to its sales divisions and customer service department combined.

Balboa Capital is one of the largest privately-held independent finance companies in the US. It markets its products through small ticket, middle market and vendor sales channels. The company’s capabilities include equipment financing, commercial financing, large ticket financing, small business loan options, franchise financing, and equipment vendor financing.