Breakout Capital Expands Product Line with FactorAdvantage
Leading small business FinTech lender introduces FactorAdvantage to support the factoring and invoice financing community and their small business customers
MCLEAN, Va., Jan. 25, 2018 /PRNewswire/ -- Breakout Capital (www.breakoutfinance.com), a leading financial technology company and small business lender, announced today the launch of FactorAdvantage. FactorAdvantage allows factoring and invoice financing companies to expand their addressable market and improve their competitiveness, while insulating factors and their customers from stacking, aggressive redirection noticing and other predatory practices employed by many merchant cash advance companies.
FactorAdvantage benefits small businesses by providing them with an integrated financing solution that combines Breakout Capital's technology-enabled lending platform with factoring products. Given the demand and expected upside for this highly sought solution, Breakout Capital has expanded its term loan size to up to $500,000, with terms remaining up to 24 months.
"We remain committed to continually innovating to stay ahead of our peers and to optimizing financing options that responsibly address the needs of our small business customers. We view factoring and invoice financing as grossly underutilized but incredibly powerful cash management solutions for small businesses, especially when coupled with our patent-pending FactorAdvantage solution," said Founder and CEO, Carl Fairbank from the 2018 Presidents & Senior Executives Retreat in Hawaii hosted by the International Factoring Association.
Many small businesses take high-cost cash advances that threaten their businesses. FactorAdvantage enables small businesses that own AR, including those already drowning in a pool of cash advances, to access a much more suitable and substantially cheaper hybrid financing solution.
Fairbank continued, "Our factoring partners have experienced substantial customer growth by offering our mutually beneficial product. They recognize how valuable FactorAdvantage can be to grow their portfolios and mitigate their risk."
"This product builds on our technology investments, with multiple patents pending, that allow us to augment our talented team with truly cutting-edge machine learning innovation. I'm excited to see our constant investment in our technology foundation driving products like this," said Firoze Lafeer, Chief Technology Officer of Breakout Capital.
In late December, Breakout Capital augmented its strong capital base through a successful expansion of its revolving credit facility with Charleston Capital Management, LLC, which in tandem closed a $50,000,000 supporting credit facility. This expansion provides Breakout Capital with significant runway for its nationwide launch of FactorAdvantage.
About Breakout Capital
Breakout Capital, headquartered in McLean, VA, is a leading financial technology company founded by Carl Fairbank, a nationally recognized industry leader and prominent speaker in small business finance. The Company leverages its best-in-class technology, a fundamental focus on continued innovation, and an unwavering conviction to best practices to provide a wide range of credit solutions to small businesses across the country.
Breakout Capital has assembled an unrivalled team of world-renowned engineers to develop proprietary applications utilizing the most advanced technologies, including deep machine learning, advanced artificial intelligence, and blockchain to ensure a streamlined underwriting process, dynamic and optimized risk-adjusted pricing, and a top-notch customer experience. Breakout Capital is a principal board member of the Innovative Lending Platform Association and an early advocate and adopter of SMART Box™.
To learn more about Breakout Capital, please visit www.breakoutfinance.com
SOURCE Breakout Capital
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