Where does Expansion Capital Group do business?
Expansion Capital Group is a lending platform based in Sioux Falls, SD. It was founded in 2013 and offers access to business loans in 50 states (and Washington, DC).
What are Expansion Capital Group’s rates?
Expansion Capital Group offers business loans with fixed APRs starting from 0% and up to 0%.
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 considers loan applications for the following reasons:
- Business Debt Refinance
- Equipment Purchase
- New Location
- Product or Service Expansion
- Working capital
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:
- Merchant Cash Advances
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 terms ranging from 3 to 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 500 can apply for a loan via Expansion Capital Group.
Expansion Capital Group requires businesses to be in business for at least 6 months.
Only U.S. citizens and permanent residents can apply for a loan..
To qualify, applicants may need to provide the following documentation:
What is the estimated funding time for a business loan via Expansion Capital Group?
Expansion Capital Group can approve (or deny) a loan application within 24 hours and fund business loans within 2 business days of approval.
- Washington, DC
- New Hampshire
- New Jersey
- New Mexico
- New York
- North Carolina
- North Dakota
- Rhode Island
- South Carolina
- South Dakota
- West Virginia
- U.S. Citizen
- U.S. Permanent Resident
- Proof of Identity
- Proof of Income