TSL Express Daily News
The Secured Lender
SFNet's The 81st Annual Convention Issue
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January 9, 2025
Source: Businesswire
SIOUX FALLS, S.D.--(BUSINESS WIRE)--Expansion Capital Group (ECG), a leading provider of working capital solutions for small businesses, proudly announces the successful closing of a $100 million credit facility. This achievement reinforces ECG’s dedication to empowering small businesses nationwide by delivering fast and dependable access to capital.
ECG’s proprietary technology, data, and analytics platform delivers speed and efficiency to its customers during the financing process. Through substantial investments over the last several years to leverage technology and data at the front-end of its underwriting process, ECG ensures that 90% of its submitted leads are decisioned in under 45 minutes. This streamlined approach has led to an impressive 80% plus contracts signed-to-close ratio, driving success for referral partners and empowering small business owners to access the capital they need quickly and efficiently.
“We’ve made substantial investments over the past several years to enhance the speed, transparency, and quality of our market engagement,” said Vincent Ney, CEO of Expansion Capital Group. “These efforts, combined with the successful closing of this new credit facility, mark a transformative moment for ECG as we continue to scale our operations and adapt to the evolving needs of small business owners. Our commitment to ongoing innovation will further streamline our processes and strengthen our position as a trusted partner for small businesses nationwide.”
Expansion Capital Group, headquartered in Sioux Falls, SD, is a technology-enabled provider of small business working capital solutions. Since its inception, ECG has supported over 30,000 small businesses across the United States providing over $1.2 billion. Over the past seven years, ECG has been recognized four times on the INC. 5000 list as one of the fastest-growing private companies in the U.S. and three times as one of the "Best Places to Work in Financial Technology" by SourceMedia.
For more information about Expansion Capital Group and its financing solutions, please visit www.ecg.com.
Contacts
Jason Gross
Director of Marketing
Expansion Capital Group
Jgross@ecg.com
605-250-0669
