eCapital Freight Factoring
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BEWARE
I am only updating my review from one star to 2 only because of E capitals general counsel. The general counsel was able to do everything I requested. However, this was definitely a process. I signed up with E capital back in 2022 and factored ONE invoice. When I saw how outrageous the fees were I knew this was NOT for me. The $175 documentation fee, $3 ACH fees, and $2 invoice fees, along with the 3% factoring fee. I requested to be released but they refused to do so. Ok no problem I NEVER used them again. Only problem is now 2 years later in 2024 I used the ONE broker I factored an invoice with and it was a HUGE mess. I contacted the payment company immediately and let them know that I am NOT working with them but they wouldn’t be able to release the payments without the letter of release. The payment company reached out to E capital and E capital advised we are still in active contract. Their contracts auto renew automatically without your knowledge and consent. Even better they demand $10,000 to be released. They waive a bunch of the fees but they still want money. $750 is what they were pushing for. I don’t like how this company traps you with hidden fees and makes it extremely difficult to leave them. Just beware!!! Use them at your own risk!