eCapital

Steve McDonald founded the company as Global Merchant Fund Corp in 2006.[3][5]

In 2017, Gerber Finance, a company that specializes in assisting importers, distributors, manufacturers, and service providers, was acquired by Global Merchant Fund Corporation.[6][7]

In 2018, Paragon Financial Group was acquired by Global Merchant Fund Corporation. Paragon Financial Group specialized in accounts receivable financing, credit protection, non-recourse invoice factoring, purchase order financing, and vendor guarantees.[6][7]

In 2019, Global Merchant Fund Corporation acquired Accutrac Capital, a company active in freight factoring, a sub-sector of transportation market.[7]

In 2020, the company renamed itself as eCapital.[3] In the same year, eCapital acquired Advantedge Commercial Finance, a UK-based specialty lender and factoring company; Bibby Financial Services; REV Financial Group, a factoring company based in Los Angeles; and Prosperity Funding, a Fort Lauderdale-based factoring company.[7][8]

In November 2021, eCapital acquired Flexible Funding, payroll funding firm specializing in funding assistance for the staffing industry, and its subsidiary, InstaPay, that provides freight factoring services.[7][9]

In 2022, eCapital acquired UMB Bank's accounts receivable financing division and a company called CNH Finance that was active in the healthcare sector.[7]

In 2023 Former CEO Jennifer Palmer filed a Gender Discrimination lawsuit against eCapital in a Southern District of New York court.[10][11]

eCapital charges a $750 minimum termination and UCC release fee for any contact, as well as an hourly rate of $250 and other expenses for the work of the termination. Early Terminations include the previous costs, plus up to 10% of the available client credit, plus other expenses.[12]

$25 Fuel Advance fee, Initial account fees which are a percentage or the credit, Minimum Value invoice fees, 15% mission notation fee on invoices, $200 late email/submission fax fees[13]

The Truckers report website performed a review consolidation of its members about eCapital. The result of the review was that the overall impression of eCapital was "Very Negative"[13] The main concerns and highlights listed were as follow:

1. Difficulties in contract termination and leaving the company: The main complaints are exorbitant termination fees and very poor to almost nonexistent client service responses.[13]
2. Refusing to return escrow/reserve money back to clients.[13]
3. Not releasing UCC in a timely manner.[13]
4. Multiple paged legal contracts that are only web based, and change without any notice.[13]
5. Aggressive and Dishonest Sales.[13]
6. Nonexistent customer service.[13]
7. Poor Communication.[13]
8. Exorbitant termination fees.[13]
9. Problems with releasing funds and getting paid.[13]
10. Unauthorized Factoring[13]

There were no positive highlights in the review[13]

Jennifer Palmer, former CEO of eCapital, filed a lawsuit in a Southern District of New York court

Stated in the Lawsuit by Palmer: Palmer was demoted to co-CEO due to retaliation for filing a gender discrimination complaint with CEO Marius Silvasan, and then later terminated because of the complaints she made, and replaced by someone who was less qualified (and male).[10][11]

• Invoice and factoring, collateral lending and Equipment financing, Lines of credit.