Expansion Capital Group
in Business Loans from Expansion Capital GroupUnaffiliated
|Loan Amount||$5,000 - $500,000|
|Loan Term||3 - 12 months|
Expansion Capital Group Review
Where does Expansion Capital Group do business?
Expansion Capital Group is a business financing offering by Expansion Capital Group, a financial services company based in Sioux Falls, SD. Founded in 2013, Expansion Capital Group offers access to business loans in 50 states (and Washington, DC).
What are Expansion Capital Group’s rates?
Expansion Capital Group offers a business financing product of 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?
Expansion Capital Group considers loan applications for business purposes, such as:
- Business Debt Refinance
- Equipment Purchase
- Lease Improvement
- 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 Expansion Capital Group?
Expansion Capital Group requires companies to be in business for at least 6 months. Businesses must have a minimum annual revenue of $100,000 to be considered.
Applicants with a credit score of at least 500 and up to 850 are eligible for Expansion Capital Group.
Expansion Capital Group does not have or does not disclose a minimum annual income eligibility requirement.
The Military Lending Act (32 C.F.R. § 232) prohibits lenders from charging service members more than 36% APR on credit extended to covered borrowers. APRs for the Expansion Capital Group product fall outside of the MLA limits and as a result the product cannot be issued to these applicants. Active duty service members and their covered dependents are considered “covered borrowers" under the Military Lending Act.
Only U.S. citizens and permanent residents can apply for a loan.
To qualify, applicants may need to provide the following documentation:
- Proof of income
- Proof of identity
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
|Credit Score Range||
500 - 850
|Immigration Status Considered||
|Employment Statuses Considered||
|Minimum Months in Business||6|
|Verification Documents Required||
|Loan Amount||$5K - $500K|
|Loan Term||3 - 12 months|