eCapital Freight Factoring
View company profile →
Wanted More
As a broker client, the onboarding and sales team was great. Started without a factoring company and this became our first factoring company to work with. They are a financial tool to use for a business like any other factoring company. Their factoring fee is cheap which is what attracted to us, but didn't realize the support would be at that same level. The reporting on their Portal is non-existent. Their is an AR aging summary that cannot be filtered by custom dates to then show all the detail history that the AR balance reflects. Make sure you have great internal accounting and not trust their system. Their is a reserve account where you can store cash. This should be treated like a regular bank account, but when trying to run reports the dates are not in chronological order so the balance history doesn't make sense. You have to ask your account rep for reports, but then the account rep are not attentive to you. They are always out, takes weeks to respond to emails, or their calls go straight to voicemail. You cannot view your carriers on the portal to check if the remittance email or bank accounting information is correct. If they make a mistake in sending to the wrong carrier, they will not pay the correct carrier until the successfully retrieve from who they improperly paid. They send invoices to clients but their system cannot cc you at all and we are told this is not possible. Their system needs a complete overhaul and limits their customers their ability to grow. They need to invest in a better GUI (general user interface) to show their customers greater visibility. eCapital is great for very small business, but is not capable of handling volume once you grow. If their factoring fee is 1% seems like they don't care about the customer since you're not brining them in enough revenue to justify their support. It's been a struggle the last 9 months.