About lender
ECN Capital Corp. was founded in 2016 and is headquartered in Toronto, Canada. It was created from the split of Element Financial. As a result, two legal entities were created: Element Fleet Management, which deals with vehicle pools, and ECN Capital, which deals with commercial financing.
ECN Capital has experience not only in Canada but also in the USA. The company works with significant project financing and lending, managing and advising on prime consumer loan portfolios in North America. The company operates in the secured consumer credit segments - Triad Financial Services and Source One - and consumer credit cards and related unsecured consumer loans - Kessler Group.
ECN Capital Corp offers secured consumer loan portfolios, including a manufactured home, marine, and mobile home loans, and consumer credit card portfolios focused on co-branded credit cards and related financial products. The company serves banks, credit unions, life insurance companies, and pension and mutual funds.
ECN Capital's managed and advised assets total $31 billion for over 100+ major U.S. financial partners.
Features
The company's customers include more than 75 banks and credit unions. With more than 10,000 banks and credit unions in the U.S., the growth opportunities are promising.
ECN Capital works specifically with retail banks, looking for solutions to their loan portfolios to offset their deposit liabilities. This means driving earnings growth, achieving lending plans, creating a high-quality portfolio, and meeting shareholder objectives.
Pros and cons
Like every other company, ECN Capital has its advantages and disadvantages.
Pros
the company has a large turnover and a significant asset portfolio;
it has experience with essential credit projects;
it has qualified consultants for competent services used by the leading players in the financial market;
the company has successfully sold and bought some companies, and this has increased its value and confirmed that the management strategy is good;
the company enjoys its reputation in the market, and this brand is well known.
Cons
Smaller projects might not be beneficial for the company;
The terms of cooperation and suitability are not disclosed until negotiations for cooperation are initiated;
There is no FAQ section on the company's website;
It is unclear how to contact the company's subsidiaries: directly or through the parent company, to arrange cooperation;
Open sources do not provide information about consulting fees and terms.
Large projects need to be discussed individually, and the company could not provide clear information about the terms of cooperation. To weigh the pros and cons of working with the company, you should submit a query, ask around, and find out the details for your particular case. The company is reputable and reliable, and such cooperation means you put yourself on a severe shoulder to ensure a good credit portfolio and card products.