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  Breakout Capital Business Lines of Credit

Breakout Capital Business Lines of Credit

in Business Lines of Credit from Breakout Capital, LLC

Unaffiliated

Breakout Capital Business Lines of Credit

Unaffiliated

in Business Lines of Credit from Breakout Capital, LLC

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Highlights
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 is 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 ranges from 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, of course, eligible 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.

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Contact

  • Headquarters
  •   1451 Dolley Madison Blvd Suite 200
    McLean, VA 22101
  •   Visit Site

Other Services by Breakout Capital, LLC

Availability

  Available in 50 states and Washington, D.C.
  • Alabama
  • Alaska
  • Arizona
  • Arkansas
  • California
  • Colorado
  • Connecticut
  • Delaware
  • Washington, DC
  • Florida
  • Georgia
  • Hawaii
  • Idaho
  • Illinois
  • Indiana
  • Iowa
  • Kansas
  • Kentucky
  • Louisiana
  • Maine
  • Maryland
  • Massachusetts
  • Michigan
  • Minnesota
  • Mississippi
  • Missouri
  • Montana
  • Nebraska
  • Nevada
  • New Hampshire
  • New Jersey
  • New Mexico
  • New York
  • North Carolina
  • North Dakota
  • Ohio
  • Oklahoma
  • Oregon
  • Pennsylvania
  • Rhode Island
  • South Carolina
  • South Dakota
  • Tennessee
  • Texas
  • Utah
  • Vermont
  • Virginia
  • Washington
  • West Virginia
  • Wisconsin
  • Wyoming

Feature Breakdown

No Prepayment Fee
Origination Fee ($) Starting at $395
Origination Fee (%) 1% - 5%
Business Financing Requirements
  • Business License
  • Business Bank Account
Credit Score Range 600 - 850
Immigration Status Considered
  • U.S. Citizen
Military Status
  • Active Duty Military
  • Non-Military
  • Veterans
  • Military Dependent
Minimum Age 18
Minimum Months in Business 12
Minimum Revenue $120,000
Verification Documents Required
  • Proof of Income
  • Proof of Identity
  • Business Formation Documents
  • Recent Bank Statements
  • Social Security Number
  • Business Tax Return
  • Employer Identification Number
Collateral Requirement
  • Secured
  • Unsecured
Intended Use of Funds
  • Equipment Purchase
  • Lease Improvements
  • New Location
  • Product or Service Expansion
  • Working Capital
  • Business Debt Refinance
  • Inventory
  • Payroll
  • Hiring
Credit Bureau Reporting
  • Experian
  • Equifax
  • TransUnion
Funding Time Range 1 - 2 days
Payment Frequency Monthly
Payment Options
  • Automatic Payments
  • Bank Transfer
APR (Fixed APR) Starting at 1.25%
Loan Amount Up to $1,000,000
Loan Term Up to 24 months

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