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eCapital Corp.: Innovative Financial Solutions Powered By Technology
According to the U.S. international trade commission, there are over 28 million SMBs in the U.S. alone. Industry reports indicate that over half of those organizations struggle to secure the working capital they need to meet their business goals, and a third of them have been rejected at least once for funding over the past five years.Small and medium-sized businesses have historically struggled with the traditional financial system, making it difficult to sustain the working capital needed to run their businesses. Approval requirements from traditional banks can be challenging, and the reporting time-consuming. These businesses are also generally more costly to support per transaction, meaning many are abandoned by traditional providers.
eCapital Corp. is driven by the mission to change the way small and medium-sized businesses access the working capital they need to operate.
“Our business model leverages technology to simplify the assessment, approval and reporting process, thus reducing the barriers to working capital funding. And through our proprietary platform, we’re able to interact with and fund our customers at any given time, any given day,” says Charles Sheppard, the chief product officer and chief operating officer at eCapital Corp.
The Leading Funding Solutions Provider for SMBs
eCapital began its journey in the transportation sector, learning very quickly that for trucking companies, it is critical to have access to working capital to build and run their businesses.
“Business owners are focused on keeping their drivers paid, their trucks maintained and on the road, and very likely, are doing their accounting after hours from the cab of a truck or at a kitchen table,” says Sheppard.
These challenges were not limited to the transportation sector. Small to medium-sized businesses (SMBs) in many sectors were facing similar cash flow challenges. This drove eCapital to find the right-sized, accessible solutions and then leverage technology to deliver them at scale.
“We knew that by freeing up the working capital already sitting in their businesses, we would be giving them the financial resources they needed to achieve their goals. When we updated our mission in 2019 ‘to empower small and mediumsized companies everywhere by accelerating their access to capital,’ we meant it,” says Sheppard.
With the new mission, eCapital grew rapidly in the commercial finance space to become a leading funding solutions provider for SMBs in over 80 sectors across North America and the United Kingdom. It all grew from the same premise: to get business owners the funds they need and let them do what they do best—run their operations.
Creating a Funding Model that Works
eCapital believes that one of the keys to creating a successful funding model is ensuring the presence of subject matter experts. It means including industry-centric financial experts who understand what the clients are going through, what’s needed, and how to make good deals happen for both sides. For example, eCapital’s CEO of North American factoring operations has over 40 years of hands-on experience, both on the fleet management side and funding side.
Beyond funding, eCapital’s expertise extends into the innovation and technology space. The substantial resources they have amassed in this area help them take smart funding concepts and convert them into online solutions that enable business owners and managers to secure the funding they need, manage those funds, and then track outcomes in real-time.
From Getting Businesses up And Running to Offering Support when Needed, We’re Honored that we can Help Business Owners Meet their Goals and be a Part of the Industry that we Love
For example, eCapital’s ground-breaking Visa partnership offers the option for business owners to receive funds through a commercial credit card anywhere, anytime. It provides instant access to a revolving line of credit to bridge the gap in day-to-day business cash flow. Business owners can easily manage multiple employee cards, enable or restrict spending categories, and even freeze existing cards in seconds. The company also offers eCapital InstaPay, a first-of-its-kind funding option that allows SMBs to transfer money instantly and access funds within minutes of an invoice being purchased, even outside traditional banking hours. InstaPay is the fastest, most efficient way for clients to self-direct funds via an online portal or mobile app.
Through these innovative, tech-forward solutions, eCapital provides working capital access 24/7, which is unique in the industry.
To ensure that its offerings help organizations understand real-world requirements and fulfill them, it created its proprietary solution, eCapital CONNECT.
Creating a Funding Model that Works
eCapital believes that one of the keys to creating a successful funding model is ensuring the presence of subject matter experts. It means including industry-centric financial experts who understand what the clients are going through, what’s needed, and how to make good deals happen for both sides. For example, eCapital’s CEO of North American factoring operations has over 40 years of hands-on experience, both on the fleet management side and funding side.
Beyond funding, eCapital’s expertise extends into the innovation and technology space. The substantial resources they have amassed in this area help them take smart funding concepts and convert them into online solutions that enable business owners and managers to secure the funding they need, manage those funds, and then track outcomes in real-time.
From Getting Businesses up And Running to Offering Support when Needed, We’re Honored that we can Help Business Owners Meet their Goals and be a Part of the Industry that we Love
For example, eCapital’s ground-breaking Visa partnership offers the option for business owners to receive funds through a commercial credit card anywhere, anytime. It provides instant access to a revolving line of credit to bridge the gap in day-to-day business cash flow. Business owners can easily manage multiple employee cards, enable or restrict spending categories, and even freeze existing cards in seconds. The company also offers eCapital InstaPay, a first-of-its-kind funding option that allows SMBs to transfer money instantly and access funds within minutes of an invoice being purchased, even outside traditional banking hours. InstaPay is the fastest, most efficient way for clients to self-direct funds via an online portal or mobile app.
Through these innovative, tech-forward solutions, eCapital provides working capital access 24/7, which is unique in the industry.
To ensure that its offerings help organizations understand real-world requirements and fulfill them, it created its proprietary solution, eCapital CONNECT.
This revolutionary business portal is built from the ground up to deliver a superior customer experience. Through customizable experiences, dedicated reporting functions, and global portability, it gives customers the ability to access, move, spend, save, and make money.
Frictionless Customer Experience
For eCapital, technology means enabling growth at scale across many industries. The company is always looking for ways it can innovate its platform, whether it is increasing efficiencies through automation or applying deep industry knowledge and expertise.
“Our focus now, and for the future, is all about making the customer experience frictionless so that they can perform a service and get access to immediate working capital. Whether it’s more control over spending, disbursing funds in real-time, or access to new funding opportunities, our products are designed to address key pain points impacting small and medium-sized businesses daily,” says Sheppard.
eCapital is constantly evolving its business, embracing growth through innovation. The power of innovation is what allows them to create and deliver scalable financial solutions across the entire customer lifecycle. The company is already executing on this path, leveraging data, insights, and industry expertise.
eCapital constantly reminds itself why it’s here and who it is trying to help. “At the end of the day, it’s our clients who make our work worthwhile. We are proud that our products and technology are a part of success stories across the nation,” says Sheppard. “From getting businesses up and running to offering support when needed, we’re honored that we can help business owners meet their goals and be a part of the industry that we love.”
Frictionless Customer Experience
For eCapital, technology means enabling growth at scale across many industries. The company is always looking for ways it can innovate its platform, whether it is increasing efficiencies through automation or applying deep industry knowledge and expertise.
“Our focus now, and for the future, is all about making the customer experience frictionless so that they can perform a service and get access to immediate working capital. Whether it’s more control over spending, disbursing funds in real-time, or access to new funding opportunities, our products are designed to address key pain points impacting small and medium-sized businesses daily,” says Sheppard.
Whether It’s More Control Over Spending, Disbursing Funds in Realtime, Or Access to New Funding Opportunities, Our Products are Designed to Address Key Pain Points Impacting Small and Medium-Sized Businesses Daily
eCapital is constantly evolving its business, embracing growth through innovation. The power of innovation is what allows them to create and deliver scalable financial solutions across the entire customer lifecycle. The company is already executing on this path, leveraging data, insights, and industry expertise.
eCapital constantly reminds itself why it’s here and who it is trying to help. “At the end of the day, it’s our clients who make our work worthwhile. We are proud that our products and technology are a part of success stories across the nation,” says Sheppard. “From getting businesses up and running to offering support when needed, we’re honored that we can help business owners meet their goals and be a part of the industry that we love.”
