Transportation Leader Secures $20 Million Factoring Facility with eCapital
MIAMI – August 1, 2024 – eCapital Corp. (“eCapital”), a leading tech-enabled finance provider specializing in tailored solutions for businesses across North America and the United Kingdom, announced a new $20 million non-notification factoring facility for a large private transportation company servicing clients across North America. This transaction showcases eCapital's capability to support fleets with substantial working capital facilities, solidifying its role as a trusted finance partner in this critical sector.
“We’re thrilled to collaborate with this prominent industry player and provide the financial backing necessary for their expansion,” said Tom Siska, SVP, Commercial Finance at eCapital. “This agreement highlights our capacity to deliver significant financing solutions to transportation companies. By unlocking capital that was previously inaccessible through their former factor, we’ve empowered them with greater financial agility and flexibility.”
The company transitioned to eCapital after an extensive review of its prior financing setup, seeking a partner able to offer more robust and versatile funding solutions. With eCapital’s assistance, the company unlocked crucial liquidity, enabling investments in essential operations, fleet expansion, and optimization of supply chain services throughout the United States and Canada.
“eCapital’s experience in the freight sector and our skill in crafting customized financing structures were pivotal in the client’s decision to partner with us,” continued Siska. “The new terms have not only provided immediate access to capital but also positioned the client for sustained growth and market competitiveness. Transportation fleets seek out our expertise to fund substantial transactions such as this, and we consistently deliver these large-scale solutions with proficiency and reliability.”
About eCapital Corp
eCapital is committed to accelerating access to capital for companies in the United States, Canada, and the United Kingdom. By leveraging a team of over 700 experts and proprietary, industry-leading technology, eCapital is creating the future of business funding. With a full suite of products, such as freight factoring, invoice factoring, healthcare receivables financing, asset-based lending, payroll funding, and equipment refinancing, eCapital ensures that businesses have the funds they need to do more. Through its Healthcare, Transportation, Staffing, Consumer Goods, Factoring, and ABL divisions, eCapital delivers customized funding solutions for over 80 industries. To learn more about eCapital, visit eCapital.com.
