Expansion Capital, a provider of small business loans, announced a new credit facility financing relationship with Northlight Financial and Bastion Management. Under the agreement, vehicles controlled by Northlight and Bastion will provide a $25 million credit facility to support Expansion Capital’s rapid lending growth.

Founded in 2013, Expansion Capital extends credit to businesses with limited financing options that are underserved by traditional financial institutions. “Our new credit facility with Northlight and Bastion, coupled with our technology driven platform, enables us to more than double our customer base and lending capacity. Expansion Capital is positioned perfectly to assist small businesses and business owners across the U.S. accomplish their goals,” said Expansion Capital chief operating officer Jay Larson.

Since start up, Expansion Capital has provided over 5,137 small businesses with capital extending more than $63 million, focusing on loan sizes ranging from $10,000 to $500,000. Expansion Capital has developed a platform based on predictive modeling, data aggregation, and electronic payment technology, which enables it to service this target market cost-effectively. Traditional lenders generally focus on small business owners’ personal credit history, whereas Expansion Capital focuses on the performance of each individual small business using a broad array of traditional and nontraditional data sources.