eCapital Review

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eCapital Finance: Debt Relief Loans

First Things First!

Remember – if I post a copy of any direct mail piece you email to e[email protected], I will send you $50. I am looking for direct mail offers with suspiciously low-interest rates. Just remember – I have to post the exact image you send me and I can only pay out the $50 to the first person who sends me a copy. I want to thank all of those who have been emailing me to keep the $50 and just continue with my good work.

The Better Business Bureau is out with a warning about E-Capital Loans and the website ecapitalfinance.co which has been taken down. A company that, instead of giving you money, steals your money and your personal information when you apply.

It’s has gained steam across 11 states, including Maryland, with hundreds of complaints.

eCapital Loans asks for personal information and upfront money when you fill out their loan application in order for them to put the full loan amount you requested into your account.

Angie Barnett with the Better Business Bureau says – beware.

“They call people and say, ‘we guarantee you’re going to get a $1,500 personal loan and all we need is your bank information so we can deposit the money, your social security, and we need a processing fee.’ So they’re asking for money upfront – absolutely illegal – and they’re asking for that information along with your personal identifying information so now you’re vulnerable to identity theft.”

Is it Legit or a Scam?

eCapital Loans is another bait and switch.

They lure you in by sending you direct mail with a “personalized reservation code” and a low 4%-5% interest rate to consolidate your high-interest credit card debt. eCapital doesn’t tell you that you need excellent credit to qualify for a loan with that low-interest rate (which you have been supposedly pre-approved for).

Crixeo.com awarded eCapital a 1-star rating (data collected and updated as of October 7, 2020). We hope the information below will help you make an educated decision on whether to do business with eCapital.

  • eCapital is not a lender.
  • The fine print at the bottom of the eCapital website states, “You received this offer because you met certain criteria for creditworthiness. Although eCapital is not a lender and does not engage in the business of lending, we have working relationships and contacts with a network of independent lenders (“Lenders”) who may be able to provide you with credit.
  • It appears that eCapital is operating a typical bait and switch scheme. They lure you in by sending you direct mail with a “personalized reservation code” and a low 2.5%-4.5% interest rate to consolidate your business debt.
  • It isn’t too evident that you need excellent credit to qualify for a loan with that low 2.92% interest rate (which you have been supposedly pre-approved for).

Reviews and Ratings

In October 2019, E Capital Finance came to the attention of the Better Business Bureau due to numerous complaints and scam tracker reports received within a few week period. Complaints and reports received allege that after consumers applied for a loan, the approval process involved providing bank account information to E Capital Finance in order for them to make an initial deposit into consumer’s account. At that time, the consumer is asked to purchase gift cards in the amount of the initial deposit and send to E Capital Finance. Based on the information detailed above, the Better Business Bureau can not confirm the legitimacy of E Capital Finance. The BBB has also learned that four other businesses (Supreme Loan, Sunriseloans.co, Consumer Needs and Saga Finance Company) may be related to E Capital Finance as they all send consumers similar letters with Daniel Martin listed as the Accounting Department Head.

eCapital Reviews

Find below some of the very recent eCapital Bad Reviews:

BBB Complaint – Nov 11, 2019

They e mailed me a loan contract with thier company contract with phone number,contact information,terms.I filled it out including bank information,social security number.They deposited funds remotely into my account then asked me to send it back via money cards.I did this when the funds where released then a day later thier funds where declined.My bank account is now overdrawn $1,400.00.They will not answer my phone calls,or my e-mails.They claimed to be in with the BBB.This does not seem to be a legitimate business if they won’t even respond.Im calling the federal trade commission,and every complaint site I can find is going to hear about this,If they don’t respond soon

BBB Complaint – Oct 28, 2019

They approved me for a loan on Oct 7th 2019.8nitially they wanted me to purchase a gift card. I suspected something wasn’t right and declined the loan. When I told them that I had declined the loan. The loan officer said that he had already deposited the money in my account and that if I didnt want it, return it by Zelle. I did so but noticed that a $647 claim had been used against one of my merchants. I notified my bank who investigated and said that I have been a victim of a scam. I had to repay the bank $ 647 because they used the banks money.

Trustpilot Complaint – Christopher – Nov 2, 2020

Don’t know where to start so I’ll just do brief statements.

Sign you up for one rate and non recourse but they switched it in the middle. Tried to end my contract after the trial period but they wouldn’t respond and when they did they cursed me out. Went the full term, they sold out to another company, took 3 months to get my release letter. After my release, 2 of my debtors sent them the checks, 2 months ago, still trying to get that money on top of the balloon payment I had to pay at the end. $3700. STAY AWAY

Trustpilot Complaint – John – Oct 28, 2020

E capital is horrible! You can never get a response, phone numbers no longer work, emails won’t be returned. Awful customer service! They have done nothing but been a pain! Absolutely DO NOT go through a company that’s holding your money and won’t communicate with you. Bad news!

Trustpilot Complaint – Bajaj Kumar- Oct 21, 2020

Bad Company I will say all carrier and trucking company please don’t sign up with e capital
last years my contract has finish and I request for release contract which they didn’t give to me I request many time I don’t want to work with you I was going to RTS e capital ask me what they are offering you however I told e capital about Rts they said ok we will give you same option just give us 1 chance I agree and I sign new contract in the middle after 6 month they start same thing extra fees invoice charge after 60 days extra percentage anyway I was under contract they can do whatever they want and NOW my contract has been over my window is open and I send them Termination letter about releases contract .RTS is working for me theyr trying to help me to get out from e capital we are trying to reach them and they are not answering this is such a bad factory and I am going to sue in the court against e capital

Trustpilot Complaint – Jumali Abbasov- Oct 20, 2020

Worst company ever do not work with them , they throw you all kinds of fees , they don’t pick up the phone when you want something and they lie to you. I been trying to get out from this company for over a month and they don’t pick up phones. Do not go into this company you will never be able to get out of it , it’s a money pit and they throw all kinds of fees at you that you don’t even know about , also they lie to you about your reserve money.

Why Do We Focus On eCapital’s Negative Reviews?

We urge you to do your own research and due diligence on any company, especially when dealing with your personal finances. The positive reviews seemed a little bit too generic. We do not imply that eCapital Reviews are fake. We have no information to suggest that. However, we do urge you to pay attention to the BBB Warnings and what consumers are saying in their very detailed complaints and reviews and put them side by side with the positive ones to evaluate the quality of authenticity for yourself.

We wish you luck and invite you to take a look at Crixeo’s
Best Debt Consolidation Reviews of 2020.

eCapital
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eCapital Review

We urge you to do your own research and due diligence on any company, especially when dealing with your personal finances. The positive reviews seemed a little bit too generic. We do not imply that eCapital Reviews are fake. We have no information to suggest that. However, we do urge you to pay attention to the BBB Warnings and what consumers are saying in their very detailed complaints and reviews and put them side by side with the positive ones to evaluate the quality of authenticity for yourself.

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