This core facility will provide valuable runway for Breakout to accelerate loan originations for both its highly regarded term-loan product and its FactorAdvantage lending solution for small businesses that utilize factoring to finance their business needs.
“We are excited to engage with Medalist, a trusted and proven senior credit facility provider who will enable us to provide superior value to our small business borrowers. This anchor facility will enhance our “white-hat” brand, allowing us to offer transparent and innovative lending solutions to a broader spectrum of small businesses across the country,” said Tim Buzby, Breakout’s CEO.
After a pause in its loan originations during the first quarter to restructure its operations and identify a strategic partner, Breakout Capital’s lending business was acquired by SecurCapital, a supply chain and financial services company headquartered in California. With its return to loan originations last week, Breakout has re-emerged as the same customer-centric and transparent small business lender it was before, maintaining the same core principles upon which it was founded.
In addition, in order to leverage the synergies of its affiliation with SecurCapital, Breakout is seeking to expand its footprint into the promising California small business market.