The founder of this company Pat Bryne and his executive officers Phil Silva and Rob Rasmussen are nothing but out and out criminals. All of their managment team are a "Den of Thieves" and have bought into the fact that it is OK to ripoff business's.
Believe what your read where there is smoke there is Fire!
Their contracts are misleading and confusing at best and are not industry standard. They hide the "Lease Start Date" in the language and make it so confusing most attorneys do not see it. Balboa then proceeds to bill you at least 3 plus months of additional rent on every contract(If you catch it they say they have "the option".
In addition in their $1.00 out capital lease agreements (A loan for GAAP purposes) they leave the language in the contract that states that the customer must give within XXX of days of the end of the lease his/her notice of his/her intention. If you do not give them notice they then proceed to hold you responsible for continued payments for 12 more months! This is unheard of because a $1.00 out lease says you own the equipment for $1.00. This Is Not Industry Standard!
When this was brought to the executive team's attention I was told that this was "The Balboa Way"!
Balboa Capital Corporation Reviews
The founder of this company Pat Bryne and his executive officers Phil Silva and Rob Rasmussen are nothing but out and out criminals. All of their managment team are a "Den of Thieves" and have bought into the fact that it is OK to ripoff business's.
Believe what your read where there is smoke there is Fire!
Their contracts are misleading and confusing at best and are not industry standard. They hide the "Lease Start Date" in the language and make it so confusing most attorneys do not see it. Balboa then proceeds to bill you at least 3 plus months of additional rent on every contract(If you catch it they say they have "the option".
In addition in their $1.00 out capital lease agreements (A loan for GAAP purposes) they leave the language in the contract that states that the customer must give within XXX of days of the end of the lease his/her notice of his/her intention. If you do not give them notice they then proceed to hold you responsible for continued payments for 12 more months! This is unheard of because a $1.00 out lease says you own the equipment for $1.00. This Is Not Industry Standard!
When this was brought to the executive team's attention I was told that this was "The Balboa Way"!
I thankfully no longer work for the company.