A signed graph is a pair $(G,σ)$, where $G$ is a graph and $σ: E(G)\rightarrow \{-, +\}$, called signature, is an assignment of signs to the edges. Given a signed graph $(G,σ)$ with no negative loops, a balanced $(p,q)$-coloring of $(G,σ)$ is an assignment $f$ of $q$ colors to each vertex from a pool of $p$ colors such that each color class induces a balanced subgraph, i.e., no negative cycles. Let $(K_4,-)$ be the signed graph on $K_4$ with all edges being negative. In this work, we show that every signed (simple) subcubic graph admits a balanced $(5,3)$-coloring except for $(K_4,-)$ and signed graphs switching equivalent to it. For this particular signed graph the best balanced colorings are $(2p,p)$-colorings.