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Breakout Capital Announces New $15MM Credit Facility with Medalist Partners

June 01, 2018, 08:00 AM
Filed Under: Lender Finance

Breakout Capital, a technology-enabled small business lender, announced the launch of a new, $15 million credit facility with a fund managed by Medalist Partners. The new facility will enable Breakout Capital to continue the rapid expansion of its small business lending programs, including the award-winning FactorAdvantageSM program, across the country.

"Medalist is an ideal partner to support our growth," said Carl Fairbank, Founder & CEO of Breakout Capital.  "They appreciate the tremendous value that FinTech lenders offer to small businesses through timely access to capital, and its vital role as a growth engine for our entire economy.  And just as importantly, they are aligned with our values of innovation, transparency, and advocacy for small business."

The facility will support Breakout Capital's growth across traditional business loans, Breakout Bridge loans, and FactorAdvantageSM program loans.  In the patent-pending FactorAdvantageSM program, Breakout Capital complements traditional A/R factoring with a hybrid business loan, enabling consolidations or overadvances.

"We believe the combination of strong underwriting, product innovation, and a top-notch management team is a great recipe for success," said John Slonieski, Director of Private Credit for Medalist Partners.  "We are excited to add this credit facility to our portfolio of high quality asset-based lending programs."

Throughout 2018, Breakout Capital has continued to grow its origination volume, breaking records each month for new funding volume.  In parallel, the company has continued to innovate in its technology program, with notable advances in machine learning, artificial intelligence, and use of the blockchain to support lending operations.

"We are privileged to have Medalist as a partner on our growth journey," said Fairbank.  "This new credit facility is key to our bringing more of our great products, together with our partners, to more small businesses."

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