Cision PR Newswire
Breakout Capital and 12Five Capital Join Forces to Create a Powerhouse in Small Business Lending
News provided byBreakout Capital
Sep 18, 2023, 10:13 AM ET
Merger Sets the Stage for Streamlined Access to Customized Lending Solutions for Small Business Clients Nationwide.
CHARLESTON, S.C., Sept. 18, 2023 /PRNewswire/ -- Breakout Capital, a leading fintech company simplifying access to term loans for small businesses, is delighted to announce the successful merger of 12Five Capital, a Chicago-based commercial finance company with a focus on factoring, purchase order financing and asset-based lending. The merger, facilitated by Altriarch Commercial Finance, Inc., the new parent company of both Breakout and 12Five, establishes a strategic alliance with a day-one portfolio exceeding $80 million. The synergistic move unites two enterprises dedicated to addressing the ever-changing needs of small businesses across the United States and sets the stage for further expansion within commercial finance.
This strategic alliance aims to establish a comprehensive suite of specialized financial products designed to address the unique challenges that small business owners face. By offering a wider range of products, the combined organization will enhance the client experience with convenient access to term loans, factoring, purchase order financing and asset-based lending, all under one roof.
Both companies were founded on the principle of being a trusted lender for businesses struggling to obtain conventional financing. Breakout Capital, founded in 2015, has maintained an unwavering commitment to transparency by encouraging a culture that embraces open lines of communication between borrowers and lenders. Since 2010, 12Five Capital has been serving the needs of emerging businesses that may ﬁnd traditional bank ﬁnancing unsuitable or inaccessible by offering innovative financing programs with a focus on product education and long-term partnership as the business grows.
"At the core of our mission lies a pledge to always put our clients first," said McLean Wilson, CEO and President of Breakout Capital. "With the needs of our clients front and center, we aim to provide personalized support and customized financial solutions that empower business owners to succeed. This strategic merger will not only provide our clients with access to a wider variety of in-house financing options, but it will also reinforce our shared commitment to growth and innovation. Together, we're excited to take the next step toward a brighter financial future for our clients and our business."
Ryan Jaskiewicz, CEO of 12Five Capital, added, "I am thrilled about this merger, which is a testament to our unwavering commitment to our core values. At 12Five, we've always believed in running our business not just for profit, but for a purpose. Our culture, built on strong values and driven by technology, has been the backbone of our success. When I founded 12Five, my vision was to provide essential capital to underserved businesses and be their first choice, not the last. Our focus has always been on accelerating our clients' progress in both their businesses and lives, all while upholding the highest standards of ethics and integrity. By joining forces with Breakout Capital, we amplify our commitment to this mission. We share a common culture, values, and a dedication to harnessing technology for innovative solutions that will drive our clients forward."
Wilson will serve the combined firm as Co-Chief Executive Officer alongside Danielle Brown who joins the firm also as Co-CEO. Jaskiewicz, who will serve as the firm's Chief Strategy Officer, has been entrusted with the responsibility of corporate strategic planning, technology innovation and leading the highly critical asset-based lending and factoring divisions for the company. His vast experience and expertise in these areas will enable him to execute his crucial role in steering the company towards further growth and product expansion.
About Breakout Capital
Breakout Capital, headquartered in Charleston, SC, with offices in McLean, VA, is one of the fastest growing fintech companies in the nation, offering transparent and innovative small business lending solutions. As a strong advocate for small business growth, Breakout is dedicated to increased transparency and the adoption of best practices within the alternative capital industry.
Since 2015, Breakout has provided nearly $500 million in funding to small businesses in every corner of the U.S. To learn more, visit breakoutfinance.com, or its social media pages on LinkedIn, Facebook, Instagram and Twitter.
About 12Five Capital
12Five Capital provides a variety of business financing services, including factoring, purchase order finance, asset-based lines of credit, inventory, and equipment lending. The company was founded in 2010 to fill a gap in the market and serve an underserved portion of the community by making the business financing process simple for all companies, regardless of size.
Since its inception, 12Five has operated based on a strong set of core values and a culture that places a premium on innovation and technology. The company has consistently sought to be the first choice of business financing for its clients by hiring top-quality employees who share its philosophy and mindset. 12Five Capital has become a trusted name in the industry, known for its commitment to providing quality services and unparalleled customer support.
The company's emphasis on culture, values, and the integration of cutting-edge technology has been instrumental in its success. This focus is expected to be further enhanced through its merger with Breakout Capital, as the company continues to innovate and create new and transformative solutions for its clients. To learn more, visit 12five.com or its social media pages on LinkedIn, Facebook and Twitter.
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SOURCE Breakout Capital
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