Expansion Capital Group Small Business Loans Review

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Expansion Capital Group

Funding amount

Up to $300,000

Term

3-12 months

Min. credit score

500

Time to funding

Within 24 hours

Expansion Capital Group (ECG) specializes in providing small businesses across the United States with a few loan products like revenue-based financing and SBA loans to fuel growth and manage operational needs. Recognizing the unique challenges faced by small businesses, ECG has tailored its loan offerings to meet these specific requirements, emphasizing simplicity in application processes and quick turnaround times. With a focus on serving a broad spectrum of industries, ECG positions itself as a versatile financial partner committed to supporting American small businesses in their endeavors to thrive and expand.

Expansion Capital Group

Apply through Lendio

Funding amount

Up to $300,000

Term

3-12 months

Min. credit score

500

Time to funding

Within 24 hours

Expansion Capital Group (ECG) specializes in providing small businesses across the United States with a few loan products like revenue-based financing and SBA loans to fuel growth and manage operational needs. Recognizing the unique challenges faced by small businesses, ECG has tailored its loan offerings to meet these specific requirements, emphasizing simplicity in application processes and quick turnaround times. With a focus on serving a broad spectrum of industries, ECG positions itself as a versatile financial partner committed to supporting American small businesses in their endeavors to thrive and expand.

Pros and cons.

Pros

Cons

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Loan offerings through Expansion Capital Group.

Expansion Capital Group provides financing options that grant quick access to capital for businesses. This funding can be used for various purposes, such as bridging a cash flow gap, investing in growth opportunities, or purchasing inventory. Their primary financing option is revenue-based financing, which enables businesses to repay their loan as a percentage of their future sales. This flexible repayment structure can be particularly beneficial for businesses with fluctuating revenues.

Expansion Capital Group’s revenue-based financing quick facts
Loan amount rangeUp to $300,000
Time in business6 months
Minimum credit score500
Minimum annual revenue$100,000
Repayment scheduleDaily or weekly
FeesOrigination fee plus flat finance fee
Funding speedAs quickly as within 24 hours

See if your business is eligible
for financing through Lendio.

How much money are you looking for?

Things to consider.

Fast funding times.

One of the standout features of Expansion Capital Group’s loan offerings is the notably quick funding times. For small businesses that require immediate financial support, ECG’s ability to provide funding within 24 hours of approval is a significant advantage. This rapid turnaround can be crucial for businesses facing unexpected expenses, needing to replenish inventory quickly, or wanting to seize immediate business opportunities. 

Moderate loan amounts are available.

Expansion Capital Group offers loan amounts up to $300,000, which can accommodate a wide range of small business needs, from emergency repairs to significant expansion efforts. While these loan amounts are moderate compared to traditional bank loans, they are designed to be quickly accessible. Businesses that require larger funding amounts may want to consider other lenders.

Average fees & rates for revenue-based financing.

Expansion Capital Group has flexible eligibility requirements. Because of the potential risk involved with relatively easy financing, the lender fees are quite high compared to a traditional bank loan. There are two types of charges you can expect when taking out this type of financing.

The first is an origination fee, which varies depending on the amount of financing you choose. Here is a breakdown of flat fees for each range of financing.

Financed amountOrigination fee
$5,300 to $9,999$299
$10,000 to $19,999$399
$20,000 to $49,999$599
$50,000-$99,999$999
$100,000$1,999

The origination fee is deducted from your funds before you receive them.

Additionally, you’ll pay a financing fee, which is charged as a factor rate of 1.2 to 1.6. So, if you finance $75,000 with a 1.5 factor rate, your outstanding balance would be $112,500.

Flexible requirements to get a loan.

Expansion Capital Group (ECG) offers flexibility in its lending criteria, making it easier for a broader range of small businesses to access funding. Unlike traditional banks that often have strict credit score and collateral requirements, ECG requires a minimum credit score of just 500 and a minimum time in business of six months. This level of flexibility is especially beneficial for newer businesses or those recovering from financial setbacks, providing them with the opportunity to secure funding that might otherwise be out of reach.

Business owners must understand that while these more lenient requirements can make accessing funds more straightforward, the cost of borrowing may be higher. Therefore, businesses should carefully assess their financial health and growth prospects to ensure that taking on a loan supports their long-term strategy.

Flexible repayment options.

Any borrowed funds from ECG are repaid over three- to 12-month terms. Borrowers can choose between daily or weekly payments automatically debited from your business bank account. For some businesses, this might feel like a squeeze on their cash flow, but for others, it may seem better than making one large payment each month. Businesses needing longer repayment terms or a monthly repayment schedule may want to consider other lender options.

Excellent customer reviews.

Expansion Capital Group has an A+ rating with the Better Business Bureau and averages 4.5 out of 5 stars on Trustpilot. Of more than 600 reviews, 84% give an “excellent” rating. Customers most frequently talk about fast funding times and an efficient application process.

Evaluation

Expansion Capital Group is best for:

Where Expansion Capital Group might fall short:

While Expansion Capital Group (ECG) brings several benefits to the table for small businesses in need of fast funding, there are areas where it might not meet every business’s needs fully. Consider the following points where ECG may fall short:

How to apply for financing from Expansion Capital Group through Lendio.

Applying for financing through Expansion Capital Group via Lendio is a streamlined process designed to connect your business with the funding it needs with minimal hassle. Lendio is a small business loan marketplace with multiple lenders that will help match small businesses with loans that suit their unique needs. Here’s how you can get started:

  1. Complete Lendio’s online application form: You will fill out a brief online application on Lendio’s website. The form asks for basic information about your business, such as its name, how long it’s been in operation, your monthly revenue, and the amount you want to borrow.
  2. Documentation submission: Alongside your application, you will be asked to submit documents that verify your business’s financial standing. These could include recent bank statements, income statements, balance sheets, and tax returns. Having these documents ready in advance can speed up the process.
  3. Review and acceptance: Once your application is submitted, Lendio will match you with potential lenders that fit your needs. If Expansion Capital Group is a good fit for your financing requirements, you will receive an offer outlining the terms of the loan. Review these terms carefully to ensure they align with your business goals and repayment capabilities.
  4. Finalize the deal: If you decide to proceed with Expansion Capital Group, you will work directly with their team to finalize the loan details. This may involve additional verification steps or documents.

The bottom line.

Expansion Capital Group (ECG) presents a compelling option for small businesses in pursuit of quick, accessible financing solutions. Importantly, while ECG offers significant benefits such as flexibility in loan requirements and rapid funding times, potential borrowers should carefully consider the cost implications, repayment schedules, and loan term limitations.

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FAQs

Expansion Capital Group was founded in 2013 to provide capital to small businesses across the United States. The lender is accredited with the Better Business Bureau and has an A+ rating with the institution. Expansion Capital Group also has a 4.5 star rating on Trustpilot from over 1,000 customers.

You should have a credit score of at least 500 to qualify for a small business loan from Expansion Capital Group.

No, Expansion Capital Group is not a bank. Instead, it is a direct lender that provides loans to small businesses.

12+ years of serving
small business.


$15+ billion in SMB funding


75+ lenders in our network


400,000+ total loans funded


*The information contained in this page is Lendio’s opinion based on Lendio’s research, methodology, evaluation, and other factors. The information provided is accurate at the time of the initial publishing of the page (July 30, 2024). While Lendio strives to maintain this information to ensure that it is up to date, this information may be different than what you see in other contexts, including when visiting the financial information, a different service provider, or a specific product’s site. All information provided in this page is presented to you without warranty. When evaluating offers, please review the financial institution’s terms and conditions, relevant policies, contractual agreements and other applicable information. Please note that the ranges provided here are not pre-qualified offers and may be greater or less than the ranges provided based on information contained in your business financing application. Lendio may receive compensation from the financial institutions evaluated on this page in the event that you receive business financing through that financial institution.