Local business helps small businesses

Your Money Matters

SIOUX FALLS, S.D. (KELO) — Six years ago a local company started in Sioux Falls, with a handful of employees. Now, that business has grown to more than 70 employees. 

The key to success for any business is profit. For start-ups, it can take a while to get to that point. That’s why Expansion Capital Group offers financial help.

“A lot of them are one or two employees. Up to ten employees of businesses. Many of them just aren’t eligible for bank financing yet and are kind of getting their start, and that’s where we come in and assist them,” said Christie.

This small business lender has been in Sioux Falls since 2013. One of the founders is from here, but that’s not why they chose this location to call the city home-base.​​​​

“We do a nation-wide lending platform. But we’re based here. really the talent of Sioux Falls staff we can get. It’s a friendly environment for us both from a regulatory environment. It’s got regulatory oversight of our business, which is one of the reasons we sought out this state. And it’s a great financial sector,” said Christie.

Expansion Capital Group is still growing. They’ve added on 30-40 people in the last few years, and are looking to hire. They’re also looking at a new space to call home.

“Definitely reached the capacity of the building we’re in. We’ve grown into some temporary space, and we’re kind of working on some new future space,” said Christie.

ECG was named the 2nd Fastest Private Growing Business in South Dakota by Inc. 5000, as well as the Best FinTech to Work by SourceMedia.  
 

Copyright 2019 Nexstar Broadcasting, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.

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