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Previously operated as Freight Capital, changed name to eCapital in 2014. Our research includes reviews of the company under both names, as their (allegedly bad) performance as Freight Capital is still relevant to their services as eCapital.
WHAT IS OFFERED:
- Free Credit Check
- EFS Fuel Card – 8c per gallon discount at the pump
- No minimums
Overall impression of eCapital – Very Negative
MAIN CONCERNS / HIGHLIGHTS
1) Difficulties leaving the company (3, 4, 8, 10)
2) Difficulties getting escrow/reserve money back (1, 5, 8 )
3) Difficulties with releasing UCC (2)
4) Complex contract – no one-page agreement (3)
5) Dishonest sales techniques (9)
6) Poor Customer service (3, 4, 9, 10)
7) Poor communication (3, 4, 10)
8) High termination fee (5)
9) Difficulties getting paid (6, 7)
10) Factoring unauthorized loads (14, 15)
1 – Negative Report
Negative comment was filed on TheTruckersReport.com on 10-29-2009
Past client complained about alleged difficulties getting his reserve money back. Freight Capital allegedly holding $312 of his money hostage.
2 – Negative Report
Negative comment was filed on TheTruckersReport.com on 5-28-11
Past client claims difficulties with releasing UCC
3 – Negative Report
Negative comment was filed on TheTruckersReport.com on 12-8-11
“I do not recommend Freight Capital. They do not have a one page agreement. They will present you with a one page to sign but there is a web site listed on there to go to to read more. It is 8 pages that need to be combed over by a lawyer. The minute you sign up you are locked in. It will COST you to get out. Customer service is great as you are signing up but things will go down quickly once they have some of your invoices. They have a California office and a Memphis office. You will get bounced around. They know you are stuck once you sign that agreement with the ” 90 day Relationship Period” that has a cancellation notice requirement of 60 days, certified letter only. So, you only have 30 days to test their services. After that 90 day period you are locked in for a year. Oh, you can cancel any time they will tell you.. but what they won’t spell out is how much they will charge you. Their $295. start up fee and the 2.95% teaser rate isn’t enough for them. You will be screwed.”
4 – Negative Report
Negative comment was filed on TheTruckersReport.com on 12-11-11
Current client allegedly having problems canceling relationship with FC:
“The only time I have EVER received a returned call from them is when they need something from me. Trying to cancel now and just Friday spoke with someone that was trying to keep me from leaving (after a week and half of calls) and after the all nice “What can we do to keep you” it turned ugly. When I repeatedly explained the difference between “legal” and “ethics” I was told she would need to have someone else approve releasing me without fees and early. And they would call back within an hour. That was Friday, this is Sunday and no call. Gee, what a shock.
AVOID THIS COMPANY AT ALL COSTS. While don’t like all these terms to keep you when you are not happy that factoring companies use, at least the others are upfront about it.”
5 – Negative Report
Negative comment was filed on TheTruckersReport.com on 12-11-11
“About being “stuck” with Freight Capital.. They won’t release my reserves yet even tho they have been paid by the broker and they have got their percentage. They are holding my left over 7 % for , gee, i don’t know..BECAUSE THEY CAN!! They will not release the UCC hold so I can hire another Factoring company without a$ 500. fee. A UCC filing cost a few dollars to put on and release. So, greed, again. While I will not use Freight Capital ever of course, I can not use another factoring company without paying Freight Capital their ridiculous fee to release me. Probably won’t use a factoring company anyway. It’s a hassle but most brokers that are decent can QP… just thought a factoring would make things flow better, not worse.”
6 – Negative Report
Negative comment was filed on TheTruckersReport.com on 12-11-11
Current client allegedly having problems getting paid:
“I have done 3 invoices with them my first run picked up on Wednesday and droped late Friday I put it in the mail at the truck stop but did not leave untill Monday so Tuesday when they got it I was already six days in it and y’all all know the broker don’t start there 30 days untill they get there invoice and they send reg mail that can take up to five days so be4 the broker gets the paper work your 13 days into your load so that’s how every invoice I have done with them has gone over 45 days
I paid the start up fee my first invoice my first run cost me over $600 I have not seen my other 5% yet I called them on that they said I get it back after the first of the next month…….I’m waiting!!!”
7 – Negative Report
Negative comment was filed on TheTruckersReport.com on 12-10-12
Current client stated:
“I thought that freight captial was a non-recourse factor?
I’m hearing that they’re not paying invoices to brokers who have a less than stellar credit rating, or who have gone bankrupt. I thought that a big selling point of their service (that you pay for) was to collect for you. They sat on invoices for several weeks before kicking them back.
The owner of the truck that I’m driving has had to collect from a couple of brokers on his own because FC has balked at their credit rating. As far as I know, they all have paid after being presented with an invoice.
So why is FC tossing these back? Seems like they’re just interested in cherry picking instead of providing the service that they’re paid to provide?”
8 – Negative Report
Negative comment was filed on TheTruckersReport.com on 12-19-12
Former client stated:
“Freight Capital called me for months I told them i would try them for 90 days. Thay said ok risk free. thay took 5 % and held 5% in savings.
When I left thay kept the 5% in savings I went to a new factoring co. Freight Capital sold them a bill that was fake for $3200
Now I have to pay back the new factoring co.”
9 – Negative Report
Negative comment was filed on TheTruckersReport.com on 12-20-12
Former client stated:
“Can’t say they are worse than others but between the lies told during the sales process, the complete lack of support when I used them and the making money on all the little things I can’t imagine how these people sleep at night.
Understand the need for factoring but there has got to be an honest, ethical company.”
10 – Negative Report
Negative comment was filed on TheTruckersReport.com on 4-25-13
Current client stated:
“I have been using Freight Capitol for a bout 6 months and I just told them off for the 3rd time and am quitting using them. They seem to be very disorganized and fail greatly in the communications department. About half of the times I turned in paperwork there was some kind of mess up on their part. Every time they seemed to make the mistakes, I was in a tight for money and they really screwed me. They apologize and act like they give a #### but they don’t. Im done with them.”
11 – Neutral Report
Neutral comment on TheTruckersReport.com on 5-23-13
Current client pointed out some minor administrative flaws, but nothing major.
Freight Capital president replied to this comment on 5-23-13 : ” Hi Danny- This is John, president of Freight Capital. We are very sorry that you had a bad experience with our company. Our customer’s satisfaction is our number 1 priority, and my team strives every day to make sure you’re happy with our services. Please call me directly at ###-###-#### so I can make things right!”
12 – Neutral to Positive Report
Neutral to positive comment was posted on TheTruckersReport.com on 5-23-13
“Oh, I’m not disappointed. This is pretty much what I expected it would be like. A little frustrating that “all was setup, ready to go”. When apparently, nothing was setup ready to go. But, like I said, it is clear to me they anticipate someone on my end being in the office to fill out forms for them every day.
there are some other pro’s to FC. no minimum’s is great. So far they have been quite upfront with all the various fees. They work late and Saturdays and their people are friendly and capable.”
13 – Positive Report
Positive comment was filed on TheTruckersReport.com on 5-24-13
Current client stated that because he has good track record with Freight Capital, he was able to negotiate “more favorable arrangement.”
14 – Negative Report
Negative comment was filed on TheTruckersReport.com on 2-27-14
“Yes. We are going thru it right now with Freight Capital ( they recently changed their name to E. Capital). They are illegally factoring loads for us which we didn’t contract then for. We hired them to factor us for JD loads only. But now we recently found out that they are holding our money for a load that we took for CH Robinson. This has to be illegal! We didn’t contract them for this load! How can they put their hands in our pockets like that? They are the most dishonest company I have ever seen! We are probably going to have to hire an attorney just to get paid for a load which they had no business in anyway. I strongly urge ALL truckers to stay away from this company and seriously urge the feds to investigate this company. They are doing illegal things and need to be exposed and shut down!!!”
15 – Negative Report
Negative comment was filed on TheTruckersReport.com on 4-19-14
Former client complained that Freight Capital allegedly attempted to collect money from non-factored broker.
Ecapital Freight Factoring Corp. The worst of the worst. After factoring with them for a year my percentage went up tp a 3.4% and at no point did they get in contact with me to inform I had informed that did not want to stay due to the increases I had to stay until my contract was over due date was Jan 20,2024 since Oct,2023 we started working on the release they approved it on Jan 9,2024 but they did not release my UCC to the new factoring, They kept offering me a lower percentage but I still confirmed that I wanted to leave on Jan 10,2024 so they ignored,emails,calls not only form me but also to the new factoring they made it impossible to communicate and I feel it was done in the intention so that I would have to stay with them by force.Now they are telling me that since I have past the cut off by 5 days I have top pay a penalty of $3,250.00. Please do not work with Ecapital their non ethical.