Breakout Capital Secures $45 million Credit Facility to Serve More Small Businesses

Small businesses are the backbone of the American economy, yet many need help accessing the capital they need to grow and thrive. Traditional banks often hesitate to lend to small businesses with less established credit histories, leaving many entrepreneurs struggling to make ends meet. Breakout Capital is a leading fintech company that aims to simplify access to capital for small businesses. Today, the company announced the completion of a $45 million credit facility with Synovus Bank and an Austin, Texas-based credit fund, enabling Breakout to meet the growing demand for affordable and flexible capital.

Under the terms of the agreement, Breakout may now obtain funding through Synovus by accessing $35 million of committed capacity. "We are incredibly excited to have Synovus, a highly respected banking partner, on board to support our mission to fuel the growth of small businesses," said McLean Wilson, CEO and President of Breakout Capital.

Breakout's commitment to product diversity, from working capital term loans to invoice factoring, reflects the company's dedication to catering to a wider range of clients, including those with unique financial needs. This approach not only strengthens Breakout's position as a leader in the industry but also empowers its strategic partner network with a more reliable funding outlet.

"This transaction expands our on-balance sheet funding capacity and provides a valuable runway for future loan growth," said Wilson. "More importantly, it enhances our flexibility to serve our clients in a constantly evolving lending landscape."

In addition to serving small businesses directly, Breakout's commitment to working with strategic partners also sets it apart in the industry. This is especially important given the economic challenges facing small businesses in the wake of the COVID-19 pandemic. Many of these businesses are struggling to survive, let alone grow, and Breakout can help them weather the storm with affordable and flexible capital. By providing a reliable funding outlet, Breakout enables its partners to expand their offerings and grow their businesses. This is a win-win for everyone involved, and it speaks to Breakout's commitment to building long-term relationships with its clients and partners alike.

This transaction not only strengthens Breakout's position as a leader in the industry but also empowers its strategic partner network with a more reliable funding outlet. As the economic landscape continues to evolve, Breakout's commitment to product diversity and strategic partnerships will only become more important in helping small businesses survive and thrive.