Expansion Capital Group Crosses $50 Million MilestoneAugust 27, 2015 | By: Sean Murray
Move over New York and Silicon Valley, Expansion Capital Group (ECG), a young Sioux Falls, South Dakota-based business lender is quickly rising up the ranks. Founded just two years ago, a company representative has confirmed to deBanked that they’ve already funded more than $50 million to small businesses nationwide.
While South Dakota might be better known as the home state of Mount Rushmore, they have made a name for themselves in an industry largely centered around New York, California, and South Florida.
Jay Larson, ECG’s COO, shared with deBanked, “We are definitely excited to cross the $50 million deployment milestone. First and foremost, we’d like to thank all of our industry partners for all their help and support in getting us here. Second, this is only the beginning of ECG’s journey [and] as such we’re looking forward to reaching the $100M milestone in a much shorter period of time.”
On the industry leaderboard, ECG is not that far behind competitors that have been in the industry for much longer. Credibly, for example, has reportedly funded more than $140 million since inception but that’s spread out over a period of more than four years.Last modified: August 27, 2015
Sean Murray is the founder of deBanked, an 11-year veteran of the merchant cash advance industry, a casual Lending Club and Prosper note investor, the co-founder of Daily Funder, an alternative lending speaker, consultant, writer, and enthusiast. Connect with me on LinkedIn or follow me on twitter.