Breakout Capital is a direct lender based in McLean, VA. It was founded in 2015 and offers access to business loans in 50 states (and Washington, DC)..
Yes, Breakout Capital charges a loan origination fee of 2.5% of the loan amount starting at $395 Breakout Capital deducts the fee directly from your loan amount before depositing your money, so make sure you take this fee into account when deciding how much you need to borrow.
Some lenders only provide business loans for certain purposes. Breakout Capital offers considers loan applications for the following reasons:
Not all business loans are made equal. The type of loan you choose will determine the range of rates and terms you receive. Breakout Capital provides access to the following business loan types:
No, Breakout Capital will not charge you a late fee. Yes, Breakout Capital charges borrowers with a late payment fee.
No, Breakout Capital does not charge prepayment fees. This means you will not have to pay additional fees if you decide to pay the loan off early.
Loan amounts start at $5,250 and go up to $500,000.
Breakout Capital offers business loans with terms ranging from 1 to 24 months. Having the option of longer terms allows borrowers to take on larger loan amounts while keeping monthly payments more affordable. However, the longer the term of your loan, the more interest you will pay.
Applicants with a credit score of at least 600 can apply for a loan via Breakout Capital.
Breakout Capital does not require borrowers to have been in business for a minimum number of years. Active duty servicemembers and their covered dependents are eligible to apply for a loan via Breakout Capital. Its rates and terms fall within the limits of The Military Lending Act.
Only U.S. citizens can apply for a loan.
Breakout Capital can provide a credit approval decision in less than an hour and fund the loan within 1 business day.
Breakout Capital reports credit data to the following credit reporting agencies:
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