Factor rates are specific to business funding and are calculated only once using the original loan amount. Factor rates are most comparable to the total interest cost of the loan, excluding upfront fees.
In addition, factor rates are expressed in a decimal figure rather than a percentage. To determine the total payback based on a factor rate, you'll need to multiply your factor rate by the total amount that you were funded. The payback amount will be determined by your payment frequency and the term. This is different from an APR, which is annualized.
It is important to work with a lender who can explain the total cost of capital to you in clear terms. Breakout Capital utilizes the SMART Box™ and will answer any questions you may have when comparing and choosing between your options prior to funding.
If you want to determine the APR of your loan, you can visit Breakout Capital's APR Calculator and plug in the numbers you already know. You might be surprised to learn how much your APR can fluctuate when any one of the variables in the calculation is changed.
If you want to determine the APR of your loan, you can visit Breakout Capital's APR Calculator and plug in the numbers you already know. You might be surprised to learn how much your APR can fluctuate when any one of the variables in the calculation is changed.
Try our pioneering BeSmart Double Dipping Calculator™ that is widely utilized by our customers and brokers.
Breakout Capital reports on both positive and negative information. That is, if payments are being made as agreed, the bureau will reflect that positive outcome. This means that paying our loan can help build business credit (some companies only report to the business credit bureau when there is a negative outcome, not positive outcomes).
Breakout Capital reports monthly. Our first report should happen within 60 days of originating the loan.
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Breakout Capital, LLC is a subsidiary of SecurCapital Corp