Breakout Capital

Date: Tue, Jan 29, 2019 at 9:12 AMSubject: RE: *** Complaint (***)To: *** <***@myRevdex.com.org>Thank you ***.We received an email from the merchant stating they did not know who we are on November 25th when they received our NOAA letter (which we send as required by federal regulation). We responded showing the details of how their application came to us (and included attached a copy of that application with their signature). This merchant did not understand that when they went to a broker to get a loan, that broker was going to send their application to various direct lenders such as ourselves. However, we did try to explain this to the merchant, and further assure them that the application and information sent to us what HE gave to a broker for purposes of getting a loan. We do NOT run hard credit checks and did nothing without his permission in such regard. As you can see from my email below, I let him know this and offered to answer any further questions or concerns. This complaint was put in obviously before hearing from us in return to his email (which we sent back a few days later after researching the application and making sure we had the correct information to provide to him) and he never responded to me or called for more info. If you need any further info, please let me know – I have copied and pasted the email chain from start to finish below, I hope this is helpfulHappy to answer or help with any other concerns or questions you may have. This complaint should be dismissed fully as it is purely the merchants misunderstanding of how the loan application process works with brokers.The letter we sent to let the applicant know we did not approve his loan application:November 25, 2018*** MD PA***Re: Your Application With ***Dear ***:Your application for business credit was recently submitted to us by ***. After carefully reviewing your application, we must advise you that we cannot grant a loan to you at this time. Pursuant to federal regulation, we are required to officially notify you of this determination.If you would like a statement of specific reasons regarding why your application was declined, please contact us within 60 days of the days of the date of this email. We will provide you with the statement of reasons within 30 days after receiving your request.To contact Breakout Capital: Via phone: Via mail: ***, Suite ***, McLean VA *** Via e-mail: [email protected] Please include your name and the name of your company in any correspondence. Regards,Kris HChief Credit OfficerBreakout Capital Finance***, Suite ***, McLean VA ***

***Notice: The Federal Equal Credit Opportunity Act prohibits creditors from discriminating against credit applicants on the basis of race, color, religion, national origin, sex, marital status, age (provided the applicant has the capacity to enter into a binding contract); because all or part of the applicant's income derives from any public assistance program; or because the applicant has in good faith exercised any right under the Consumer Credit Protection Act. The Federal agency that administers compliance with this law concerning this creditor is Federal Trade Commission, Equal Credit Opportunity, Washington, DC 20580. The Response he sent to us:Re: Decline Notification: Your Application For Business Credit With Breakout Is DeclinedWho are you? I have never communicated with you. I have never applied for a loan from you and find this email preposterous. Your email arrived in junk and junk it is!! I am reporting to Revdex.com. Sent from my ***My email back to the applicant/merchant explaining who we are, how he applied and that we did not run his credit.Re: Decline Notification: Your Application For Business Credit With Breakout Is DeclinedGood morning, ***I have attached your signed application that we received from *** DBA Business Now Advance Funding, as was noted on the decline notification letter we sent you. We are a direct lender, and Business Now Advance Funding is a broker. When you provided them your signed application and bank statements, they then had your permission (from the application verbiage) - to send to direct lenders like ourselves on your behalf to help obtain your requested business capital.As we did not move forward with your application, we did not run any type of hard credit inquiry and you will not see anything from Breakout Capital Finance on your credit report. I certainly encourage you double check your report.We apologize if this letter has caused any confusion or concern. I understand that you may not have known that this broker was going to send your application to lenders on your behalf. I would encourage you to contact Business Now Advance Funding directly (the number and Broker name is listed on the top of the signed application) to ask that they cease sending your application to any other lenders, if this is what you prefer.I hope this information is helpful. Feel free to contact me back if you have any further questions. My contact information is listed below in my signature.Kind regards,Erin