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  Breakout Capital Merchant Cash Advance

Breakout Capital Merchant Cash Advance

in Merchant Cash Advance from Breakout Capital

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Breakout Capital Merchant Cash Advance

Unaffiliated

in Merchant Cash Advance from Breakout Capital

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Highlights
Factor Rate 1.13 - 1.35
Loan Amount Up to $1,000,000
Minimum Revenue $10,000
APR  (Fee or Charge Based Product) 13% - 35%

Breakout Capital Merchant Cash Advance Review

Breakout Capital Merchant Cash Advance is offered by Breakout Capital, a direct lender founded in 2015 and based in McLean, VA. Breakout Capital Merchant Cash Advance is available in 50 states (and Washington, DC).

Breakout Capital Merchant Cash Advance FAQ

What APRs does Breakout Capital Merchant Cash Advance offer?

The cost of merchant cash advances is typically marketed as a factor rate, not an APR. Breakout Capital offers merchant cash advance with a factor rate starting from 1.13 to 1.35. The higher the factor rate, the higher the fees. For example, an advance of $20,000 with a factor rate of 1.5 will have a total repayment of $30,000, which includes $10,000 in fees.

However, we ran the numbers and we estimate it has an equivalent APR that ranges from 13% APR up to 35% APR.

Does Breakout Capital Merchant Cash Advance charge prepayment fees?

No, Breakout Capital Merchant Cash Advance does not charge prepayment fees. This means you will not have to pay additional fees if you decide to pay the Breakout Capital Merchant Cash Advance off early.

What types of repayment method does Breakout Capital Merchant Cash Advance accept?

Breakout Capital Merchant Cash Advance accepts the following repayment method from the Merchant:

  • Split withholding
  • ACH withholding

How often does Breakout Capital Merchant Cash Advance process payments?

Breakout Capital Merchant Cash Advance processes payments daily based on your business's credit card transactions. This means that a percentage of your transactions will automatically be sent to Breakout Capital Merchant Cash Advance as payment for your cash advance until the full amount is paid.

Does Breakout Capital Merchant Cash Advance charge an origination fee?

Yes, Breakout Capital Merchant Cash Advance charges a origination fee of 1% to 5% of the total amount advanced starting at $395 Breakout Capital Merchant Cash Advance deducts the fee directly from your merchant cash advance amount before disbursing merchant cash advance proceeds, so make sure you take this fee into account when deciding how much you need to borrow.

What is the minimum repayment amount required by Breakout Capital Merchant Cash Advance?

There is no minimum repayment ammount.

What is the estimated funding time for a merchant cash advance via Breakout Capital Merchant Cash Advance?

Breakout Capital Merchant Cash Advance can provide a credit approval decision in less than an hour and fund the merchant cash advance within 1 business day.

What are the business financing requirements for Breakout Capital Merchant Cash Advance?

To apply for Breakout Capital Merchant Cash Advance, you need to provide the following business documentation:

  • Business license
  • Business bank account

What do you need to qualify for Breakout Capital Merchant Cash Advance?

Applicants with a credit score of at least 600 and up to 850 may be eligible for Breakout Capital Merchant Cash Advance. The minimum age to be eligible is 18 or the state minimum, whichever is higher.

Breakout Capital Merchant Cash Advance 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 Merchant Cash Advance. 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 Merchant Cash Advance.

To qualify, applicants may need to provide the following documentation:

  • Proof of income
  • Recent bank statements
  • Business formation documents
  • Proof of identity
  • U.S. tax identification number

What limitations does Breakout Capital Merchant Cash Advance set on the purpose of the merchant cash advance?

Breakout Capital Merchant Cash Advance considers merchant cash advance applications for business purposes, such as:

  • Business debt refinance
  • Equipment purchase
  • Lease improvement
  • New location
  • Product or service expansion
  • Working capital
SuperMoney Disclosure: SuperMoney.com is an independent, advertising-supported service. The owner of this website may be compensated in exchange for featured placement of certain sponsored products and services, or your clicking on links posted on this website. Read more...
Editorial Disclaimer: Editorial and user-generated content on this page is not provided or commissioned by the issuer. Opinions expressed here are the author’s alone and have not been approved or otherwise endorsed by any financial institution, including those that are advertising partners.

Contact

  • Headquarters
  •   6862 Elm St
    Floor 3
    McLean, VA 22101
  •   Visit Site

Other Services by Breakout Capital

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 $10,000
Verification Documents Required
  • Proof of Income
  • Proof of Identity
  • Business Formation Documents
  • U.S. Tax Identification Number
  • Recent Bank Statements
  • Social Security Number
  • Business Tax Return
  • Employer Identification Number
Credit Bureau Reporting Experian
Funding Time Range 1 - 2 days
Payment Frequency Daily
Payment Options Automatic Payments
Repayment Methods
  • Split Withholding
  • ACH Withholding
APR (Fee or Charge Based Product) 13% - 35%
Factor Rate 1.13 - 1.35
Loan Amount Up to $1,000,000
Loan Term Up to 24 months

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