[abfunders]

Has this been confirmed by anyone?!
I'm a recent post on LinkedIn that they are looking hire:

https://www.linkedin.com/jobs/view/e...lc-1020641594/

They're exhibiting at the Factoring Conference:
https://www.factoringconference.com/exhibitors.asp

[WestCoastFunding]

I’m skeptical they went under. They’ve recently made some big hires and, as of this moment, still running Google ads.

[Christian]

They expanded their board of directors less than one month ago.

[Christian]

Do u work at breakout or something?

I do not. I also do not celebrate bad things happening to others.

[KINGCASH]

I’m skeptical they went under. They’ve recently made some big hires and, as of this moment, still running Google ads.

If you work with them and have a rep there, call them.

[KINGCASH]

Irrelevant but you sound like you work for Bloomberg!

Why in heavens name would you celebrate a funding company going under!

From the feedback I received, they are "restructuring". However, laid off most, if not all employees.
I've been calling every extension to no avail.

[rdgllc]

If you work with them and have a rep there, call them.

Our office was told by a BOC rep that there was a “temporary” issue with their credit facility. Didn’t get much detail other than that.

[Kevin Henry-Seacoast]

They have not gone out of business or laid off all the employees. They are making some changes that required them to let go of some staff.

[fund it]

So why are they not funding renewals or new deals?

[Nunya]

So why are they not funding renewals or new deals?

IF there's an issue with their credit facility, as was speculated above, they would need to sort that out with their lenders first.

[Kevin Henry-Seacoast]

So why are they not funding renewals or new deals?

You would have to ask Carl. He is pretty responsive.

[Christian]

Spoke to management. Breakout is not shutting doors. Not even close to half laid off. Restructuring a few things and will resume funding very soon.

[abfunders]

I just got off the phone with management, also.
Christian stole the words directly out of my keyboard.
This thread was fake news.

However, they aren't touching funding for the next few weeks, not even renewals while they reshuffle on the back-end.

[fundingsmbs]

this has happened before. can capital lost their credit line with Wells and laid off most employees. They eventually came back but in the interim, brokers had to shuffle all their deals to other funder's. If they lost their line, its not a good sign. This industry is volatile and really shows that anyone at anytime can stop funding. Spread your deal flow to multiple companies and don't chase just 1. There have been enough stories to warrant this statement and caution for building folios.

[KINGCASH]

This thread was not fake news. The two reps who I spoke with stated they laid off most of staff and that they were restructuring.

[Jstarr]

https://www.prnewswire.com/news-rele...300782917.html

"Tech-focused small business credit solutions provider continues rapid growth as a disrupter in lending and technology."

[KINGCASH]

Update is Breakout has been letting all their ISOs know that no, they are not going anywhere and that they are actually restructuring and should be running like usual in the next few weeks. For now, they are holding off on submissions etc., but nothing alarming.

I stick by my first post on being told that reps were laid off and are restructuring, but no intention was to give any negative attention to Breakout.

I'll cut down on the question marks next time.

[fundingsmbs]

we never funded with them, but, never good to see any company have a pause in funding

[Kevin Henry-Seacoast]

It’s a shame. Carl Fairbanks was a good investment banker at FBR. It’s a lot tougher to be the entrepreneur than the banker though.

He's not going anywhere... Neither is the Company.

Investment Banker: Every attorney wants to be an investment banker, every investment banker wants to be a private equity professional, every private equity pro wants to buy or start their own business....every business owner wants to blow their brains out. Circle of Capital Markets life.....

[Kevin Henry-Seacoast]

It’s pretty sobering though. If the son of the billionaire CEO of Capital One can’t get financing and stay in business who can?

Ok... Not sure where you are getting your information from, but they are not going anywhere. Considering you just joined the forum, I take it you might have an ax to grind with Carl and perhaps Yellowstone......considering those are the only topics you have commented on since joining this month.

[Jess]

He's not going anywhere... Neither is the Company.

Investment Banker: Every attorney wants to be an investment banker, every investment banker wants to be a private equity professional, every private equity pro wants to buy or start their own business....every business owner wants to blow their brains out. Circle of Capital Markets life.....

So true!!

[aldoracap]

If you need an APR calculator you can use ours here: https://www.aldoracapital.com/resour...funding_to_apr

[Nunya]

If you need an APR calculator you can use ours here: https://www.aldoracapital.com/resour...funding_to_apr

This server could not prove that it is www.aldoracapital.com; its security certificate expired yesterday. This may be caused by a misconfiguration or an attacker intercepting your connection.

[Big Mack]

This server could not prove that it is www.aldoracapital.com; its security certificate expired yesterday. This may be caused by a misconfiguration or an attacker intercepting your connection.

Swing and a miss on their 1st post.

[Kevin Henry-Seacoast]

This server could not prove that it is www.aldoracapital.com; its security certificate expired yesterday. This may be caused by a misconfiguration or an attacker intercepting your connection.

As a general rule it is always a good idea to never click on a link or open a document from someone you do not know or that was sent to you unexpectedly. There are a host of phishing attacks floating around some including ransoms.

The phishing attacks are hard to go after. The ransom attacks if constantly repeated tend to get the attention of the United States Secret Service Cyber Crime Lab....no matter what the $ amount.