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03-29-2024, 05:01 PM #1
- Join Date
- Feb 2024
- Location
- NY
- Posts
- 77
Balboa Off-Loading All MCA Brokers!
Received this from a friend Balboa shutting things down on MCA end of things.
Dear ISO Partner,
We regret to inform you that Balboa Capital, a division of Ameris Bank, has made the strategic decision to cease the underwriting and funding of ISO Broker Partner-driven Working Capital transactions. This includes new submissions, any applications in process that have not been decisioned and any renewal opportunities. Approved applications are eligible for funding provided they are within 30 days from approval and subject to the terms of the approval.
Since 1988, we have developed a strong following with our equipment finance business. We felt our efforts would be better served with this part of our business where our value proposition and product offerings have been relevant and well received.
We thank you for support over the years and we wish you continued success.
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