Leading small business lender secures new credit facility to support growth across loan portfolio
MCLEAN, VA / PR NEWSWIRE / IMMEDIATE RELEASE / August 1, 2019 / Breakout Capital, a leading fintech and nationwide small business lender, a SecurCapital company, announced today the completion of a senior secured credit facility with Medalist Partners. This core facility will provide valuable runway for Breakout to accelerate loan originations for both its highly regarded term-loan product and its powerful FactorAdvantage® lending solution for small businesses that utilize factoring to finance their business needs.
Tim Buzby, Breakout’s CEO commented, “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.”
John Slonieski, Director of Private Credit for Medalist Partners, added, “We are pleased to have Breakout Capital in our asset-based lending portfolio. Their high-quality underwriting and small-business friendly lending solutions, coupled with their talented credit and management team, provide us confidence in working closely with them in expanding their lending program.”
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 Corp, 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.
McLean Wilson, recently appointed Chief Credit Officer and founder of successful companies in the asset-based lending and factoring spaces, echoed Buzby’s vision, stating, “We’re excited to have Medalist as a core lending partner as we grow our term loan and FactorAdvantage platforms across the country.” Breakout Capital will continue to leverage Wilson’s deep industry experience in lending and factoring as it expands its small business customer base and strategic partners across the nation.
About Breakout Capital
Breakout Capital, headquartered in McLean, Virginia, has been and will continue to be a leading fintech company, offering innovative small business lending solutions across the country. As part of SecurCapital, Breakout Capital remains committed to transparent and responsible lending solutions through product innovation, small business borrowing education, and advocacy against predatory lending practices and will continue to empower small business through right-sized lending, suitability testing, improving terms and supporting the long-term financing objectives of small businesses. Breakout Capital has been widely regarded as the “white-hat” lender in the alternative finance space and intends to retain that reputation as part of SecurCapital.
FOR ADDITIONAL INFORMATION:
Breakout Capital: http://www.breakoutfinance.com/
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About Medalist Partners Medalist Partners is an SEC registered investment manager with approximately $2.5 billion in assets under management as of July 1, 2019. The New York based firm has 31 employees and manages strategies in specialty finance, structured credit, and collateralized loan obligations. The business is led by Gregory Richter (CEO), Brian Herr (CIO) and Michael Ardisson (COO) who were formerly part of Candlewood Investment Group, and prior to that Credit Suisse.
To learn more about Medalist Partners, please visit www.medalistpartners.com.