
Breakout Capital Business Lines of Credit
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APR (Fixed APR) | Starting at 1.25% |
Credit Score Range | 600 - 850 |
Loan Amount | Up to $1,000,000 |
Breakout Capital Business Lines of Credit Review
Breakout Capital Business Lines of Credit is offered by Breakout Capital, LLC, a direct lender founded in 2015 and based in McLean, VA. Breakout Capital Business Lines of Credit are available in 50 states (and Washington, DC).
Breakout Capital Business Lines of Credit FAQ
What APRs does Breakout Capital Business Lines of Credit offer?
Breakout Capital Business Lines of Credit offers a fixed APR product that starts at 1.25% APR.
Does Breakout Capital Business Lines of Credit charge an origination fee?
Yes, Breakout Capital Business Lines of Credit charges an origination fee of 1% to 5% of the line of credit amount starting at $395 Breakout Capital Business Lines of Credit deducts the fee directly from your line of credit amount before disbursing the fund, so make sure you take this fee into account when deciding how much you need to borrow.
What limitations does Breakout Capital Business Lines of Credit set on the purpose of the line of credit?
Breakout Capital Business Lines of Credit considers line of credit applications for business purposes, such as:
- Business Debt Refinance
- Equipment Purchase
- Hiring
- Inventory
- Lease Improvement
- New Location
- Payroll
- Product or Service Expansion
- Working capital
Does Breakout Capital Business Lines of Credit charge prepayment fees?
No, Breakout Capital Business Lines of Credit does not charge prepayment fees. This means you will not have to pay additional fees if you decide to pay the line of credit balance off early.
What is the maximum term you can get with Breakout Capital Business Lines of Credit?
Breakout Capital Business Lines of Credit offers business lines of credit with a maximum term of 24 months. Having the option of longer terms allows borrowers to take on larger line of credit amounts while keeping monthly payments more affordable. However, the longer the term of the amounts you borrow, the more interest you will pay.
What do you need to qualify for Breakout Capital Business Lines of Credit?
Applicants with a credit score of at least 600 and up to 850 may be eligible for Breakout Capital Business Lines of Credit. The minimum age to be eligible is 18 or the state minimum, whichever is higher.Breakout Capital Business Lines of Credit does not have or does not disclose a minimum annual income eligibility requirement.
The Military Lending Act (32 C.F.R. § 232) prohibits lenders from charging service members more than 36% APR on credit extended to covered borrowers. Active duty service members and their covered dependents are eligible to apply for a loan via Breakout Capital Business Lines of Credit. Their rates fall within the limits of The Military Lending Act.
U.S. citizens are eligible to apply for the services offered by Breakout Capital Business Lines of Credit.
To qualify, applicants may need to provide the following documentation:
- Proof of income
- Recent bank statements
- Business formation documents
- Proof of identity
What is the estimated funding time for the Breakout Capital Business Lines of Credit?
Breakout Capital Business Lines of Credit can provide a credit approval decision in less than an hour and start funding the line of credit within 1 business day.
What are the business financing requirements for Breakout Capital Business Lines of Credit?
To apply for Breakout Capital Business Lines of Credit, the applicant needs to provide the following documentation:
- Business license
- Business bank account
Does Breakout Capital Business Lines of Credit report your account activity to credit bureaus?
Yes, Breakout Capital Business Lines of Credit reports your account activity to the following credit reporting agencies:
- Equifax
- Experian
- Transunion
Making regular on-time payments to a creditor that reports to one or more credit bureaus will demonstrate your financial responsibility and may help improve your credit.
What types of business lines of credit does Breakout Capital, LLC offer?
Breakout Capital, LLC offers both secured and unsecured lines of credit. Secured lines of credit are typically secured by a blanket lien on your assets or a certificate of deposit.
Message From Breakout Capital Business Lines of Credit
Contact
- Headquarters
-
1451 Dolley Madison Blvd Suite 200
McLean, VA 22101 USA - Visit Site
- Email Support
Other Services by Breakout Capital, LLC
Availability
- Alaska
- Alabama
- Arkansas
- Arizona
- California
- Colorado
- Connecticut
- Washington, DC
- Delaware
- Florida
- Georgia
- Hawaii
- Iowa
- Idaho
- Illinois
- Indiana
- Kansas
- Kentucky
- Louisiana
- Massachusetts
- Maryland
- Maine
- Michigan
- Minnesota
- Missouri
- Mississippi
- Montana
- North Carolina
- North Dakota
- Nebraska
- New Hampshire
- New Jersey
- New Mexico
- Nevada
- New York
- Ohio
- Oklahoma
- Oregon
- Pennsylvania
- Rhode Island
- South Carolina
- South Dakota
- Tennessee
- Texas
- Utah
- Virginia
- Vermont
- Washington
- Wisconsin
- West Virginia
- Wyoming
Feature Breakdown
No Prepayment Fee | |
Origination Fee ($) | Starting at $395 |
Origination Fee (%) | 1% - 5% |
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