Expansion Capital Group, LLC (ECG) says it has topped $1 billion in financing for smaller firms. The US-based business was founded in 2013 and reports that to date, it has served 20,000 small businesses. Headquartered in Sioux Falls, SD the company is a “technology-driven specialty lender.”
ECG is working capital funding using a 3-12 month term finance product. Details on interest rates and terms are few on the website so you must go through the application process first to get a quote for a loan. The company will fund from $5000 to $300,000.
Tim Mages, Chief Strategy Officer of ECG said that capital challenges have been magnified since COVID:
“… the recent muted lending environment by regional and community banks. During the last three years, inflationary pressures have negatively impacted many hardworking small business owners. ECG has continued to be a reliable partner and a key resource as business owners navigate these headwinds. In the last two years, we’ve seen accelerated growth of our platform. This growth is being driven by two key factors. First, our industry-leading Partner Portal is designed to create a transparent and seamless process for our referral partners. Second, investments in new technology and data sources have positioned ECG to provide underwritten approvals in less than an hour. These