Factoring Line of Credit

Is the bank impacting your business?

As banks are rewriting the rules and becoming more restrictive, the relationships larger trucking companies have with the bank are showing signs of stress. Too often, these trucking companies begin to trip their loan covenants or simply become “unbankable” without even realizing it. Are limitations at the bank impacting your business?

Are you having trouble
with your line?

Banks are risk averse and will demand immediate repayment of a loan or implement a forbearance agreement if you trip your covenants.

Is your business
in transition?

Companies experiencing rapid growth or entering new markets are viewed as risky by banks and they may have their borrowing capacity limited.

Are you experiencing seasonality?

The industry is known to ebb and flow so business cash flow isn’t always consistent which can put bank loans in jeopardy.

An alternative financial solution for transportation companies

A Factoring Line of Credit is not like working with a bank. As your accounts receivable grow, your access to working capital grows. And along the way, you benefit and keep your business on track with:

  • A revolving line of credit
  • Funds available on demand
  • Only paying for what you use
  • Your back office handled for you

Interests piqued? Get the full scoop about the value of the Factoring Line of Credit in our white paper.

Capital on your terms

With eCapital’s Factoring Line of Credit, we’ve given you a way to maintain your business’ cash flow that lies within the creditworthiness of your customers that allows you to bypass banks completely. Get back to running your business the way you want to. Draw cash as you need it and have no disruptions in cash flow.

eCapital’s Factoring Line of Credit allows you to:

Bypass restrictive financial covenants

Immediately access up to 95% of your receivables

Keep your costs in line with rates as low as Prime plus

We make it easier to run your business

Our dedicated accounts receivable management team works with you and your customers across North America to get invoices processed and paid promptly.

For a small fee, eCapital’s accounts receivable management team will:

  • Speed up invoice processing by ensuring all paperwork is properly administered
  • Free up more of your receivables by managing the collections process
  • Help keep you on top of your balance sheet by improving your accounts receivable reporting
  • Strengthen your business by improving relations with your customers
  • Reduce your bad debt by providing timely, informed credit advice
  • Enable your growth by freeing up more of your time to focus on operations

What businesses say about Factoring Line of Credit

“Nobody likes getting a surprise call from the bank saying that your loan is in jeopardy. This product [Factoring Line of Credit] saved my business.”

-John K, Mississippi

“We had to shift our business when the automotive industry went sideways and Factoring Line of Credit was able to help us get over the hump during the transition.”

-Tim P, Texas

“eCapital’s Factoring Line of Credit gives us the flexibility to draw on cash flow when we need it. I like that we only have to pay for what we need, when we need it.”

-Frank W, New Jersey

What does a Factoring Line of Credit cost:
From 0.022% per day

(Prime plus 5% per annum)
The following example is based on a $1000 invoice, outstanding for 45 days.

Advance $970.00 97% of invoice amount is paid to you within 24 hours
Administrative $5.00 0.5% of the Invoice Amount
 *Rates vary from 0.5% to 1.5%     
Net Advance: $ 965.00 Advance less the administration fee
Discount Fee: $ 9.60 0.022% x $970 X 45 days
Calculated & deducted at month’s end
Net Balance: $20.40 Paid to you when your customer pays Accutrac Capital.
Net Funds Received by Customer: $ 985.40

Fill cash flow gaps to keep your business on track

eCapital’s Factoring Line of Credit is the most cost-effective and flexible financial solution out there, allowing your business to quickly capitalize on opportunities for growth.