We want to be your trusted partner in freight factoring, providing you with cash flow solutions to keep your trucks on the road and your business moving and growing. Our cost efficient and hassle free services focus on you getting cash fast to maximize your time and efficiency.
Invoice Factoring
Invoice factoring is a financial service which allows a business to sell its accounts receivable (AR) to a third party (Sandor) in exchange for fast access to cash.
Faster access to cash allows a business to quickly improve its cash flow and access cash otherwise tied up in unpaid customer invoices for longer periods of time. The business can then meet its financial obligations (business expenses such as maintence, wages, gas, etc) and pursue new opportunities.
Importantly - invoice factoring is a sale of an invoice - not a loan - so its does not impact your credit compared to typical bank financing. You are unlocking the cash in your invoice typical 30 to 90 days before you customer actually pays the invoice owing.
Invoices are sold to us in exchange for immediate payment (minus our fee) then your customer pays us according to their payment terms.
Our Approach
We offer a simple non-recourse flat fee daily rate model of 0.09% per day (i.e. 2.70% per 30 day period). Yes its that simple!
We do not charge any hidden fees; no cancellation fees, no termination fees, no due dilligence fees, no maintaince fees, no fund transfer fees, no monthly minimums, no requirement to fund all invoices, no admin fees, etc. Absolutly "NO" hidden fees!
We advance 85% of the Face Amount of an invoice upon approval. Fees are charged daily so for example:
Net Terms |
Fee |
30 days |
2.70% |
45 days |
4.05% |
60 days |
5.40% |
75 days |
6.75% |
90 days |
8.10% |
Please keep in mind with our non-recourse factoring if your customer fails to pay their invoice to us, we assume the responsibility for the loss, not you or your business. This is set out in further detail in our Factoring Agreement.
Our daily fee begins the day we acccept the invoice to be factored and send you your money and stops the day your customer pays us - very simple!
Account Set Up
Please send the following information to info@sandorgroup.com
- Business formation documents (i.e. articles of incorporation)
- Government Issued Photo ID
- Past AR History (Minimum 1 Year)
- Void Business Bank Account Cheque
- Recent Business Tax Documents
Qualification Requirements
- Must have been in business for 1 year
- Generate $10,000/month minimum revenue.
- You must invoice customers (B2B).
- Invoices are yours (your company's) for work you have completed and you/your company are due to be paid for.
Account Review
We will review your account and contact you for any questions or additional information.
Account Approval
Once an account is approved and set up simply submit invoices by email to invoice@sandorgroup.com or by fax (905) 331-9930 being sure to always include all necessary details and documents and ensure they are legible.
Funding
When invoices are submitted to us; our goal is to fund within 24hrs. Invoices are processed on business days from 9:00am EST to 5:00pm EST; so depending on when an invoice is submitted it may take up to 24 hours or longer for funding. We always do our best to be as quick as possible!
Please note: we do not offer fuel cards or similar programs.
Our Process: |
