Daily News: January 26, 2018

Breakout Capital Launches FactorAdvantage Hybrid Platform

Fintech lender Breakout Capital launched FactorAdvantage, a platform which allows factoring and invoice financing companies to expand their markets 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 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, combining Breakout Capital’s technology-enabled lending platform with factoring products.

To support the FactorAdvantage launch, Breakout Capital expanded its revolving credit facility with Charleston Capital Management and closed a $50 million supporting credit facility. The company also expanded its term loan size to up to $500,000, with terms remaining up to 24 months.

“[FactorAdvantage] builds on our technology investments 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.

Breakout Capital, headquartered in McLean, VA, is a technology-enabled direct lender which provides a range of working capital solutions to small businesses.