Finder is committed to editorial independence. While we receive compensation when you click links to partners, they do not influence our opinions or reviews. Learn how we make money.

Breakout Capital business loans review

Last updated:  

Straightforward short-term loans up to $250,000

When your business struggles to find a loan or needs emergency financing, Breakout Capital might offer what you’re looking for. It’s one of the most transparent short-term business lenders out there with excellent customer service — rare for this particular type of financing.

$6,000

Min. Amount

$250,000

Max. Amount

Details

Product NameBreakout Capital business loans
Min. Amount$6,000
Max. Amount$250,000
Loan Term6 to 24 months
Min. Credit Score600
APRStarting at 15.01%
RequirementsAt least one year in business, 600+ credit score, at least $10,000 in monthly revenue

First, do I qualify?

To be eligible for business financing from Breakout Capital, you must:

  • Have a credit score of 600 or higher
  • Be at least one year in business
  • Make at least $10,000 a month

What makes Breakout Capital business loans unique?

Breakout Capital is one of the most straightforward short-term online business lenders out there. While many are unwilling to share rates, fees and even eligibility criteria, Breakout Capital generally spells out what you’re getting into in plain English.

It also allows you to renew your loan if you need more time to pay it off. If you still owe interest on the loan you renew, Breakout Capital doesn’t add that interest to your loan balance — unlike some other short-term business lenders. This means you won’t end up paying interest on interest.

Have any more questions? We were pleased to find that its customer service team didn’t beat around the bush when it came to questions we had about how it works.

What is Breakout Capital?

Breakout Capital is an online direct lender that offers unsecured short-term business loans ranging from to . Businesses have between and to pay them back at rates starting at 1.25% per month — equivalent to APR.

Before your business gets its funds, Breakout Capital deducts a 2.5% origination fee from the loan amount. So if your business qualifies for a $10,000 loan, it actually receives $9,750, but you’ll still be on the hook for paying back $10,000.

Depending on your loan amount and business cash flow, you might end up with daily, weekly or monthly repayments. Monthly repayments are more flexible, but are also typically more difficult to qualify for.

Breakout Capital FactorAdvantage loan

Breakout Capital also offers another type of short-term loan for businesses that rely on invoice factoring called the FactorAdvantage loan. Small businesses can borrow up to $500,000 for cashflow assistance that factoring doesn’t cover — like when your unpaid invoices aren’t ready for factoring but you still need funds.

FactorAdvantage comes with fewer requirements than the business term loan: There’s no minimum credit score, time-in-business or monthly revenue criteria to meet. Rates and fees are also the same as the term loan.

What are the benefits of a Breakout Capital business loan?

  • Fast turnaround. As long as your business can submit documents the same day it applies for a loan, it can get funds in as little as 24 hours.
  • Not required to be profitable. Businesses that haven’t started to make more money than they spend each month can still qualify for financing from Breakout Capital.
  • Strong customer service. You can call or email Breakout Capital to get quick, straightforward answers to your questions.
  • Option to renew. As long as your business is eligible, it can apply to reborrow the amount it’s paid back before fully paying off the loan — similar to a credit card.

What to watch out for

  • Daily, weekly or monthly repayments. Daily and weekly repayments might not be the right option for businesses that don’t have a strong, consistent cash flow.
  • Not available in all states. Your business can’t qualify for a Breakout Capital loan if it’s located in California, Nevada, Montana, North Dakota or Vermont.
  • Rates aren’t always clear. Breakout Capital advertises monthly interest rates instead of APRs, which can be deceptively low.

Compare more Business loan providers

Data indicated here is updated regularly
Name Product Filter Values Loan amount APR Requirements
First Down Funding business loans
$5,000 – $300,000
Fee Based
At least 1 year in business, an annual revenue of $100,000+, and a minimum credit score of 400
Alternative financing up to $300K with highly competitive rates.
Lendio business loans
$500 – $5,000,000
Starting at 6%
Operate business in US or Canada, have a business bank account, 560+ personal credit score
Submit one simple application to potentially get offers from a network of over 300 legit business lenders.
ROK Financial business loans
$10,000 – $5,000,000
Varies
Eligibility criteria 3+ months in business, $15,000+ in monthly gross sales or $180,000+ in annual sales
A connection service for all types of businesses — even startups.
OnDeck small business loans
$5,000 – $250,000
As low as 9.99%
600+ personal credit score, 1 year in business, $100,000+ annual revenue
A leading online business lender offering flexible financing at competitive fixed rates.
Rapid Finance small business loans
$5,000 – $1,000,000
Fee based
Steady flow of credit card sales, bad credit OK
Fundbox business loans
$1,000 – $100,000
4.99
You must have an established business.
Get flat rate, short-term financing based on the financial health of your business, not your credit score.
Kickpay e-commerce business loans
$20,000 – $1,000,000
Not applicable
At least $250,000 in the past 12 months of revenue, e-commerce business, use a 3rd party fulfillment center for storing and shipping inventory, at least one US location.
Get a loan for your e-commerce business based on your sales history.
Fundera business loans
$2,500 – $5,000,000
7% to 30%
$300,000+ of annual revenue, 680+ personal credit score, in business for 3+ years
Get connected with short-term funding, SBA loans, lines of credit and more.
LendingClub business loans
$5,000 – $500,000
12.15% to 29.97%
12+ months in business, $50,000+ in annual sales, no bankruptcies or tax liens, at least 20% ownership of the business, fair personal credit score or better
With loan terms that vary from 12 to 60 months, enjoy fixed monthly payments and no prepayment penalties through this award-winning lender.
Monevo business loans
$500 – $100,000
3.99% to 35.99%
Credit score of 500+, legal US resident and ages 18+.
Use this connection service to get paired with a loan you can use for business.
loading

Compare up to 4 providers

What do other customers have to say about Breakout Capital?

There’s not much online about Breakout Capital, but what’s there is good. As of July 2018, Breakout Capital has an A+ rating from the Better Business Bureau (BBB), which it’s been accredited with since 2016. The BBB bases its ratings on factors like transparency and how it handles customer complaints — Breakout Capital has none. Only two customers have left reviews of Breakout Capital and both are positive.

It does similarly well on Trustpilot, scoring a 9.5 out of 10 based on 115 reviews, and 90% of customers called it “Excellent.” Customers were particularly happy with the quality of customer service, calling them friendly and professional. Several mentioned that the customer service team was what made the process of getting a loan simple and easy. At least one customer was surprised with how high the rates were, however.

How do I apply?

Breakout Capital has a simple online application that only takes a few minutes to fill out. Before you get started, double check that your business is eligible — otherwise you’re just wasting your time. You might also want to make sure you have all of your documents ready to upload beforehand.

Eligibility requirements

  • At least one year in business
  • 600+ personal credit score
  • At least $10,000 in monthly revenue

Steps to apply

  1. Go to Breakout Capital’s site, select how much financing you need and click Inquire Now.
  2. Fill out the required fields with basic information about you and your business.
  3. Read the privacy policy and terms and conditions.
  4. Hit Submit.
  5. Wait for a member of Breakout Capital’s team to contact you with an offer.
  6. Follow Breakout Capital’s directions to complete your application and upload documents.
  7. Review and sign your loan contract.
  8. Wait to receive your funds.

If your business can upload documents the same day it applies, it could get funds within 24 hours.

What documents do I need to apply?

Typically, Breakout Capital only asks to see three to six months of business bank statements. You can upload documents by going to the Breakout Capital page, clicking Apply Now in the main navigation bar and then Upload Documents.

I got the Breakout Capital business loan. Now what?

Your business starts making daily, weekly or monthly repayments, depending on which option it qualifies for. Ask if you can sign up for autopay so you don’t have to make a manual repayment each time it’s due.

Need more funding? After your business has paid back part of its funds, it can apply for more money — up to the amount of the principal that’s paid down. For example, if your business borrowed $10,000 and paid back $2,500, it can apply for $2,500.

Have any questions specifically about your loan? Reach out to customer service by calling 888-318-3534.

How to apply step-by-step with screenshots

Bottom line

Breakout Capital business loans could be a good option for businesses that need short-term emergency funding. While short-term financing isn’t typically cheap, Breakout Capital’s transparent site and stellar customer service team set it apart when speed is your top need. Curious about how it compares to other lenders? Check out our business loans guide to read about more options and learn how business financing works.

Frequently asked questions

Imgage source: Shutterstock and breakoutfinance.com

Ask an expert

You are about to post a question on finder.com:

  • Do not enter personal information (eg. surname, phone number, bank details) as your question will be made public
  • finder.com is a financial comparison and information service, not a bank or product provider
  • We cannot provide you with personal advice or recommendations
  • Your answer might already be waiting – check previous questions below to see if yours has already been asked

Finder only provides general advice and factual information, so consider your own circumstances, or seek advice before you decide to act on our content. By submitting a question, you're accepting our finder.com Terms of Use and Privacy and Cookies Policy.
Go to site