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  Expansion Capital Group Merchant Cash Advance

Expansion Capital Group Merchant Cash Advance

in Merchant Cash Advance from Expansion Capital Group, LLC

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Expansion Capital Group Merchant Cash Advance

Unaffiliated

in Merchant Cash Advance from Expansion Capital Group, LLC

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Highlights
Factor Rate 1.2 - 1.6
Loan Amount $5,000 - $300,000
Minimum Revenue $100,000
APR  (Fee or Charge Based Product) 20% - 60%

Expansion Capital Group Merchant Cash Advance Review

Expansion Capital Group Merchant Cash Advance is offered by Expansion Capital Group, LLC, a financial services company founded in 2013 and based in Sioux Falls, SD. Expansion Capital Group Merchant Cash Advance is available in 50 states (and Washington, DC).

Expansion Capital Group Merchant Cash Advance FAQ

What APRs does Expansion Capital Group Merchant Cash Advance offer?

The cost of merchant cash advances is typically marketed as a factor rate, not an APR. Expansion Capital Group, LLC offers merchant cash advance with a factor rate starting from 1.2 to 1.6. The higher the factor rate, the higher the fees. For example, an advance of $20,000 with a factor rate of 1.5 will have a total repayment of $30,000, which includes $10,000 in fees.

However, we ran the numbers and we estimate it has an equivalent APR that ranges from 20% APR up to 60% APR.

Does Expansion Capital Group Merchant Cash Advance charge prepayment fees?

Yes, Expansion Capital Group Merchant Cash Advance charges additional fees to borrowers who pay off their Expansion Capital Group Merchant Cash Advance 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 Expansion Capital Group Merchant Cash Advance early.

How much cash can you advance from Expansion Capital Group Merchant Cash Advance?

Cash advance amounts start at $5,000 and go up to $300,000.

What types of repayment method does Expansion Capital Group Merchant Cash Advance accept?

Expansion Capital Group Merchant Cash Advance accepts the following repayment method from the Merchant:

  • Split withholding
  • ACH withholding

How often does Expansion Capital Group Merchant Cash Advance process payments?

Expansion Capital Group Merchant Cash Advance processes payments daily based on your business's credit card transactions. This means that a percentage of your transactions will automatically be sent to Expansion Capital Group Merchant Cash Advance as payment for your cash advance until the full amount is paid.

Does Expansion Capital Group Merchant Cash Advance charge an origination fee?

Yes, Expansion Capital Group Merchant Cash Advance charges a origination fee.

What is the minimum repayment amount required by Expansion Capital Group Merchant Cash Advance?

There is no minimum repayment ammount.

What is the estimated funding time for a merchant cash advance via Expansion Capital Group Merchant Cash Advance?

Expansion Capital Group Merchant Cash Advance can approve (or deny) a merchant cash advance application within 24 hours and fund your merchant cash advance within 2 business days of approval.

What are the business financing requirements for Expansion Capital Group Merchant Cash Advance?

To apply for Expansion Capital Group Merchant Cash Advance, you need to provide the following business documentation:

  • Business license
  • Business bank account

What do you need to qualify for Expansion Capital Group Merchant Cash Advance?

Applicants with a credit score of at least 500 and up to 850 may be eligible for Expansion Capital Group Merchant Cash Advance. The minimum age to be eligible is 18 or the state minimum, whichever is higher.

Expansion Capital Group Merchant Cash Advance 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 Merchant Cash Advance 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.

U.S. citizens are, of course, eligible for the services offered by Expansion Capital Group Merchant Cash Advance. Permanent resident / green card holders are also eligible to apply.

To qualify, applicants may need to provide the following documentation:

  • Proof of income
  • Recent bank statements
  • Business formation documents
  • Proof of identity

What limitations does Expansion Capital Group Merchant Cash Advance set on the purpose of the merchant cash advance?

Expansion Capital Group Merchant Cash Advance considers merchant cash advance applications for business purposes, such as:

  • Business debt refinance
  • Equipment purchase
  • Lease improvement
  • New location
  • Product or service expansion
  • Working capital
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Other Services by Expansion Capital Group, LLC

Availability

  Available in 50 states and Washington, D.C.
  • Alabama
  • Alaska
  • Arizona
  • Arkansas
  • California
  • Colorado
  • Connecticut
  • Delaware
  • Washington, DC
  • Florida
  • Georgia
  • Hawaii
  • Idaho
  • Illinois
  • Indiana
  • Iowa
  • Kansas
  • Kentucky
  • Louisiana
  • Maine
  • Maryland
  • Massachusetts
  • Michigan
  • Minnesota
  • Mississippi
  • Missouri
  • Montana
  • Nebraska
  • Nevada
  • New Hampshire
  • New Jersey
  • New Mexico
  • New York
  • North Carolina
  • North Dakota
  • Ohio
  • Oklahoma
  • Oregon
  • Pennsylvania
  • Rhode Island
  • South Carolina
  • South Dakota
  • Tennessee
  • Texas
  • Utah
  • Vermont
  • Virginia
  • Washington
  • West Virginia
  • Wisconsin
  • Wyoming

Feature Breakdown

Business Financing Requirements
  • Business License
  • Business Bank Account
Credit Score Range 500 - 850
Immigration Status Considered
  • U.S. Citizen
  • U.S. Permanent Resident
Military Status
  • Non-Military
  • Veterans
Minimum Age 18
Minimum Months in Business 6
Minimum Revenue $100,000
Verification Documents Required
  • Proof of Income
  • Proof of Identity
  • Business Formation Documents
  • Recent Bank Statements
  • Social Security Number
  • Business Tax Return
  • Employer Identification Number
Collateral Requirement Unsecured
Intended Use of Funds
  • Equipment Purchase
  • Lease Improvements
  • New Location
  • Product or Service Expansion
  • Working Capital
  • Business Debt Refinance
Approval Speed 24 hours
Credit Bureau Reporting
  • Experian
  • Equifax
  • TransUnion
Funding Time Range 2 days
Payment Frequency Daily
Payment Options Automatic Payments
Repayment Methods
  • Split Withholding
  • ACH Withholding
APR (Fee or Charge Based Product) 20% - 60%
Factor Rate 1.2 - 1.6
Loan Amount $5,000 - $300,000
Loan Term 3 - 12 months

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