Breakout Capital Hires New Chief Marketing Officer
Small business lender Breakout Capital announced that it has hired James Mendelsohn to be its Chief Marketing Officer. Mendelsohn spent three years working as Chief Marketing Officer at CAN Capital.
“It’s an exciting time to be in the alternative lending space,” Mendelsohn said. “One of the biggest messages that the industry as a whole has to [communicate] is that this is still an underserved market. And that’s part of where Breakout is trying to make a difference – by introducing new products and services so that more small businesses can get access to credit and capital.”
The McLean, VA-based company was founded in 2015 by Carl Fairbank, a former investment banker. The company now has 40 employees.
“James was the perfect fit for where we are in the lifecycle of our business,” Fairbank said. “It’s an enormous addition to the team and sets us up even more favorably for success at faster and safer terms than our peers.”
Breakout Capital offers loans of up to $250,000 to be paid within two years or less. It also provides a product called FactorAdvantage, which helps factoring companies take on new clients. For instance, according to Mendelsohn, if a factor wants to take on a factoring client, but the client has existing MCAs or other loans, Breakout Capital can replace these with a new loan that makes it easier for the factor to advance against the invoices.
“As we continue to emphasize de-risking via a variety of methods, we’ve positioned our most attractive products to scale quickly, such as FactorAdvantage,” Fairbank said, “and James’ arrival couldn’t have come at a more ideal time.”
The majority of Breakout Capital’s leads come from partners including brokers, ISOs and factoring companies, according to Mendelsohn.
Mendelsohn told deBanked that he’s enthusiastic about Breakout Capital’s commitment to innovation.
“The team is very oriented to this mission of how to bring great innovation to the marketplace,” Mendelsohn said. “And I’m excited to get our core products, and new products, into more people’s hands.”
Last modified: February 14, 2018
Todd Stone is a reporter for deBanked. Send me a tip or ideas for a story at Todd@deBanked.com.