Abstract: To address the rapid growth of candidate connection combinations and the high proportion of infeasible solutions generated by random search in the coordinated connection of multiple business-expansion loads, a capacity-margin-guided multi-objective crested porcupine optimization method is proposed. A multi-objective optimization model is established to minimize bus voltage deviation, active power loss, and connection engineering cost. To improve the feasibility of initial solutions, a capacity-margin-guided initialization strategy is introduced to incorporate distribution-network operating information into population generation. Considering the discrete characteristics of connection-node decisions, an electrical-neighborhood-based search strategy is further developed to enhance local search capability in the discrete solution space. The final recommended scheme is selected from the Pareto-optimal solution set according to its distance to the ideal point. Case studies on the IEEE 33-bus distribution system show that CM-MOCPO achieves an initial feasible-solution ratio of 74.5%, an HV of 0.8126, and an IGD of 0.0249, outperforming MOCPO, NSGA-II, and MOPSO. The results demonstrate that the proposed method can improve feasible-region search efficiency and Pareto-front quality for coordinated connection of multiple business-expansion loads while achieving a tradeoff between distribution-network operating performance and connection economy.