Breakout Capital, a technology-enabled small business lender, launched 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 FactorAdvantageSM program, across the country.
“Medalist is an ideal partner to support our growth,” said Carl Fairbank, founder and 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.”
Throughout 2018, Breakout Capital has continued to grow its origination volume, breaking records each month for new funding volume. The company has continued to innovate in its technology program, with notable advances in machine learning, artificial intelligence and the use of the blockchain to support lending operations.
NY-based Medalist Partners is an SEC-registered investment manager with approximately $900 million in assets under management as of May 1, 2018.
