Breakout Hits Milestone with $100 Million in Funding for Small Businesses in 2023
July Highlights
After surviving a pandemic, small businesses now face more uncertainty with high inflation, talks of a recession and rising interest rates. Yet amidst the roller coaster ride, Breakout Capital has stepped up to provide businesses with more than $100 million in funding over the course of 2023, reaching this milestone during the month of July.
Throughout the year, Breakout and its strategic partners have recognized the need for financial assistance and swiftly collaborated to provide funding to companies across various industries in every corner of the U.S.
Greg Hitt, Vice President of Partnerships at Breakout Capital went on to say,
“We constantly strive to think outside of the box and quickly deliver the solutions our clients need to support their business objectives. Our goal is to provide maximum value with minimal hassle.”
Success stories from this past July include not only working capital to support business growth, but also debt consolidation needs to help clients increase their overall cashflow. Each customer has a unique story, and Breakout is honored to play a role in its clients’ entrepreneurial successes.
Here are a few specific highlights from July that showcase how alternative lenders like Breakout can provide relief during these difficult times for businesses everywhere.
Healthcare Consulting
Total Amount: $350,000
Location: Atlanta, Georgia
Term Length: 12 Months
This Atlanta-based anesthesiologist company was in need of immediate funding to cover payroll expenses. After meeting with a Breakout specialist and discussing their unique needs, the business received $350,000 in working capital in just a few days while awaiting payments for their rendered services. Serviced with its Waive Product, the client now has the opportunity to take advantage of customized repayment schedules tailored to their needs.
Engineering & IT Consulting
Total Amount: $205,000
Location: Triangle, Virginia
Term Length: 12 Months
A client in Virginia received $205,000 to refinance outstanding debt and lower their monthly payments, giving them more financial flexibility while waiting for government contract payments. In less than 48 hours, Breakout processed their application and provided funding through its Prime Product which helped consolidate debt, address payroll needs and free up cashflow.
Medical Practice
Total Amount: $100,000
Location: Plano, Texas
Term Length: 12 Months
This next loan was a $100,000 working capital injection for a physician’s office out of Texas. Breakout’s strategic partner provided medical equipment financing for the client while Breakout funded the working capital needed to enhance cashflow as part of the equipment investment that will help them expand. Funded through Breakout’s Waive Product, this business is officially empowered to tackle new heights during the second half of 2023.
Wood Manufacturer
Total Amount: $360,000
Location: Phoenix, Arizona
Term Length: 9 Months
An architectural millwork manufacturing business in Phoenix received a $360,000 loan within two business days which helped increase its cashflow. Through a refinancing opportunity and additional working capital, the company was able to purchase new equipment and support payroll. Financing was secured through Breakout’s Prime Product.
Through its industry-leading underwriting platform, intuitive technology, risk controls and responsive customer service, Breakout Capital continues to be a reliable funding source that is uniquely qualified to help businesses navigate financial challenges during these uncertain times.
