Expansion Capital Group
Expansion Capital Group is a merchant cash advance provider based in South Dakota, which offers assistance to companies that have poor credit, and small businesses that need quick capital. A merchant cash advance is not quite a loan but is technically similar. It is not governed by the same restrictions as a loan, meaning an applying company has fewer requirements that they have to fulfill. You need to have a presence in business for at least 6 months. Further, you should have a credit score minimum of 500. Revenue of $100,000 per year is also required.
Expansion Capital Group provides assistance of between $5K and $500K, for a period of 3 to 12 months. The flat fee they charge over the borrowed amount is x1.2 – x1.6. Note that they charge an origination fee from each borrower. In the place of collateral, they request a personal guarantee. The application process is done online, and there is an online form to fill out for this. Once you show that you meet the revenue criteria, you would be contacted by a representative of the company. Expansion Capital Group has relaxed credit score requirements, and also offers information regarding requirements to meet in order to be deemed eligible.