Launched in 1988 and acquired by Ameris Bank in December 2021, Balboa Capital has been a fintech-forward equipment-finance shop for more than three decades. The HVAC program specifically funds rooftop units, split systems, recovery machines, service vans, and specialty tools contractors need to grow a residential or commercial service business. Application-only financing extends up to $500,000 for hard collateral and $350,000 for soft collateral, with larger SBA facilities from $400,000 to $5 million for operators looking to acquire shops or open additional locations.
HVAC owners turn to Balboa for predictable fixed monthly payments that align with seasonal cash-flow swings common in heating and cooling. Because Balboa is now a bank-owned lender, contractors benefit from Ameris Bank's balance sheet and regulated capital access while retaining the speed and digital application flow of a fintech. Financing can be structured as equipment loans or leases, and Section 179 tax treatment is available on qualifying equipment to reduce taxable income in the year of acquisition.
The program is marketed explicitly to HVAC, plumbing, refrigeration, and clean-energy contractors, with vendor-finance partnerships that let equipment distributors embed point-of-sale financing into their sales process. That makes Balboa a particularly strong fit for HVAC shops buying directly from an OEM or distributor partner, as well as multi-location operators who need repeatable working-capital and growth-loan workflows.