Breakout Capital secures $45 million credit facility led by Synovus Bank
July 27, 2023
CHARLESTON, SC – Breakout Capital, a leading fintech company simplifying access to capital for small businesses, announced the completion of a $45 million credit facility in which Synovus Bank will provide the senior credit facility and an Austin, Texas-based credit fund, will provide the subordinate credit facility. Under the terms of the agreement, Breakout may now obtain funding through Synovus by accessing $35 million of committed capacity with an additional $10 million uncommitted.
“We are incredibly excited to have Synovus, a highly respected banking partner, on board to support our mission to fuel the growth of small business,” said McLean Wilson, CEO & President of Breakout Capital. This substantial facility will enable Breakout to meet the growing demand from small businesses seeking affordable and flexible capital. As the small business lending landscape continues to evolve, 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 transaction expands our on-balance sheet funding capacity and provides valuable runway for future loan growth,” said Wilson. “More importantly, it enhances our flexibility in providing best-in-class terms, prioritizing the needs of our clients.”
About Breakout Capital, LLC
Breakout Capital, headquartered in Charleston, SC, with offices in McLean, VA, is one of the fastest growing fintech companies in the nation, offering transparent and innovative small business lending solutions. As a strong advocate for small business growth, Breakout is dedicated to increased transparency and the adoption of best practices within the alternative capital industry.
Since 2015, Breakout has provided nearly $500 million in funding to small businesses in every corner of the U.S. They are a proud member of the International Factoring Association (IFA), the world’s largest association for Factors, Asset Based Lenders, PO Finance and commercial finance companies which provides education and training to the small business lending community. To learn more, visit breakoutfinance.com, or its social media pages on LinkedIn, Facebook, Instagram and Twitter.
