Corporate Vision Issue 12 2018

66 CORPORATE VISION / Issue 12 2018 , We speak to Carl Fairbank of innovative funding firm, Breakout Capital, as he is crowned Most Influential CEO of the Year 2018 in the Finance and Technology sector. Transforming the Financial Landscape Built on the pillars of transparency, honesty, and doing what’s right for small businesses, Break- out Capital Finance is a direct funding company that provides business loans. Offering a fully transparent funding process, with no hidden charges, fees or surprises of any kind, it really is changing the face of corporate lender. “We’re working for small busi- nesses every day, providing responsible working capital solutions tailored specifically for your business,” explains Carl Fairbank, the firm’s founder and CEO. “We know each custom- er carries a unique story, and with dozens of different forms of working capital available in the market, the ‘one-size-fits-all’ approach utilised by many of our competitors leaves many small businesses fighting an uphill battle with a product that doesn’t match their business. “We also understand that capital alone isn’t enough, which is why we regularly produce important educational resources for you. But we don’t stop there; we are constantly working as your advocate, to ensure that small businesses across the country continue to have access to alter- native forms of working capital that are transparent, affordable, and free of predatory practices. Our tagline says it all: Empow- ering Small Business. We want to put the financial control back into the hands of small business owners and allow you to focus on what you do best: running and growing your business.” Through a decade of work as an investment banker to the alterna- tive finance industry, Carl iden- tified market inefficiencies and widespread industry practices that made it extremely expensive for many small business owners to secure funding. Such capital also carried additional costs frequently not fully understood by business owners at the time of funding. Carl founded Break- out Capital in an effort to bring affordable and fully transpar- ent funding solutions to small businesses with a wide range of credit profiles. Breakout Capital eliminates the hidden costs that have signifi- cantly raised the cost of capital to small business owners, enabling the company to offer an affordable solution tailored to each business. Prior to founding Breakout Capital, Carl worked as an Investment Banker at FBR & Co. and in the Corporate Strategies Group at Capital One Financial Corporation. Carl graduated from American University with a B.S. in Business Administration and Economics. Carl is a recipient of the 2018 Commercial Finance Association’s 40 under 40 award for business development and is a member of the Forbes Finance Council. Leveraging product innovation and with a steadfast conviction to ‘doing the right thing’, Breakout Finance set out to create suitable working capital solutions for small businesses based on three characteristics: flexibility, trans- parency, and affordability. “This isn’t just ‘step A to step B’,” Carl embellishes, “but an on-going responsibility that will continue to drive us to improve as a business. “We also recognize that our core products will not always be the right solution for every company. So we’ve developed a revolution- ary Suitability Test that we apply to all of our potential customers. What exactly does that mean? Well, when you apply for working capital with us, we will learn your business and your objectives, and only recommend the best product (or products) for your business, not the best product for our business. In cases when the right product is not with us, we will help you access the right solution through pre-approved partners that share our core principles.” The firm supplements its on-go- ing product innovation with a dedication to providing industry leading educational resources. Its resource centre contains the highly regarded educational blog series, Breakout Bites, and addi- tional resources like an APR and Double Dipping Calculator, all in- tended to help small businesses better understand the alternative lending market and how to avoid the hidden fees and debt traps that are too prevalent with many of Breakout’s competitors. 1809CV11 “There is a significant amount of misinformation throughout the industry, and we help you sift through the ‘noise.’ Additionally, we’ve formed partnerships with recognised thought leaders and small business advocates for you to leverage their expertise.” In addition to becoming one of the fastest growing companies in the market, Breakout Capital is a leading advocate for small busi- ness. Carl is an active thought leader on Capitol Hill, promoting improved transparency and the adoption of ‘best practices’ by alternative capital providers throughout the market. “We are a Board Member of the Innovative Lending Platform Association (ILPA), a group of lenders, small business organ- izations, and small business advocacy groups dedicated to advancing best practices and standards that support respon- sible innovation and access to capital for small businesses. Through the ILPA, we are a SMART BoxTM adopter – a model pricing disclosure and comparison tool that will enable small businesses to better as- sess and compare their finance options. View our Best Practices & Code of Ethics. We are also on the task force for The Partner- ship for Lending in Underserved Markets (PLUM) led by the SBA and Milken Institute, in an effort to increase access to afforda- ble capital for minority-owned businesses.”