Where does Expansion Capital Group do business?
Expansion Capital Group is based in Sioux Falls, SD. It was founded in 2013 and offers access to business loans in 48 states (and Washington, DC)..
Does Expansion Capital Group charge an origination fee?
Yes, Expansion Capital Group charges a loan origination fee.
What limitations does Expansion Capital Group set on the purpose of the loan?
Some lenders only provide business loans for certain purposes. Expansion Capital Group offers considers loan applications for the following reasons:
- Equipment purchase
- New location
- Product or service expansion
- Working capital
- Business debt refinance
What types of business loans does Expansion Capital Group offer?
Not all business loans are made equal. The type of loan you choose will determine the range of rates and terms you receive. Expansion Capital Group provides access to the following business loan types:
- SBA loans
Does Expansion Capital Group charge a late fee?
No, Expansion Capital Group will not charge you a late fee. Yes, Expansion Capital Group charges borrowers with a late payment fee.
Does Expansion Capital Group charge prepayment fees?
Yes, Expansion Capital Group charges additional fees to borrowers who pay off their loans sooner than anticipated. Take this into consideration when choosing a lender because prepayment penalties can reduce or even cancel the interest savings of repaying a loan early.
How much can you borrow from Expansion Capital Group?
Loan amounts start at $5,000 and go up to $500,000.
What is the maximum loan term you can get with Expansion Capital Group?
Expansion Capital Group offers business loans with a maximum term of 12 months. Having the option of longer terms allows borrowers to take on larger loan amounts while keeping monthly payments more affordable. However, the longer the term of your loan, the more interest you will pay.
What do you need to qualify for a loan with Expansion Capital Group?
Applicants with a credit score of at least 560 can apply for a loan via Expansion Capital Group.
Expansion Capital Group requires businesses to be in business for at least 12 months in business. Active duty servicemembers and their covered dependents cannot apply for a loan via Expansion Capital Group. The Military Lending Act prohibits lenders from charging servicemembers more than a 36% APR.
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- Washington, DC
- New Hampshire
- New Jersey
- New Mexico
- New York
- North Carolina
- North Dakota
- Rhode Island
- South Carolina
- South Dakota
- West Virginia
- SBA Loan
- Business Debt Refinance
- Equipment Purchase
- Lease Improvements
- New Location
- Product or Service Expansion
- Working Capital