You can generally expect a factoring advance rate of 80-90% of your invoice’s face value, deposited into your bank account within 24 to 48 hours after submission to altLINE. altLINE partners with lenders nationwide to provide invoice factoring and accounts receivable financing to their small and medium-sized business customers. For most factoring companies, lockboxes play a vital role in this process. When you factor with altLINE, we fund up to 90% of your invoices now, offering you a critical boost in cash flow that helps you stay on top of your expenses, no matter where your outstanding receivables stand. The ever-evolving modern business landscape is filled with apps focused on boosting efficiency for businesses. Moving forward, this is the factoring platform customers should use to manage their accounts and will act as the new client portal. Small establishments are defined as those with fewer than 500 employees. altLINE partners with lenders nationwide to provide invoice factoring and accounts receivable financing to their small and medium-sized business customers. 5%. Our team also has more than 80 years of experience serving customers, and we have an A+ rating by the Better Business Bureau. What makes us different? Rates from 0. Factoring with altLINE gets you the working capital you need to keep growing your business. altLINE is a direct bank lender and a division of The Southern Bank Company, a community bank originally. Instead, many Virginia Beach business owners turn to invoice factoring as an effective and accessible alternative financing solution that boosts working capital. Zero Hidden Fees. Aside from factoring, altLINE also offers some of the best financial solutions for your business such as accounts receivable financing and asset-based lending. Call the altLINE Factoring Hotline +1 (205) 607-0811. The exact timing of your cash advance depends on the customer’s receipts and acknowledgment of goods. Here at altLINE, we make brokers’ lives easier by offering speed, flexibility, and a competitively priced offering that gets deals done, and we do so while offering a competitive commission structure that compensates your for your. Business owners always seek out ways to leverage their assets. altLINE A/R Financing . We also soften the financial blow of late customer payments by improving your cash flow. altLINE Advances Up To 80-90% Of The Invoice Face Value. Invoice factoring is a form of alternative financing in which a company sells its outstanding invoices to a factoring company (a “factor”). 1/10. With this in mind, it is safe to say that a trucking business is one of the businesses with a high possibility of venturing from a startup to a large company within a short time. It is the alternative loan arm of The Southern Bank Company. See how bankers, brokers, and financial advisors can partner with altLINE as a part of our referral program. As an entrepreneur, it’s important to remember that leveraging mobile apps for running a small business is one of the most efficient ways to grow your company. Once you submit your quote request, a representative will be in touch with you immediately. Fast Approval. You can usually expect a factoring advance rate of 80-90% of your invoice’s value and a cash advance deposit between 24 and 48 hours after submission to altLINE. A bank lockbox payment is a payment processing service in the form of a P. Jim is the General Manager of altLINE by The Southern Bank. The payor on an invoice is the person or party paying. The cost of payroll funding for staffing agencies can range from 1% – 7% of the invoice face value, depending on several criteria. If your customer pays within the first month, the factoring company will charge you 2% of the value, or $1,000. For Brokers . The bank has factored over $800 million in invoices over more than 80 years. Why factor with altLINE in South Carolina? Accounts Receivable Financing, or Factoring, is a quick, effective means of infusing your business with cash. 100% Transparency. Unlike most competitors, altLINE offers a factoring fee starting at 0. Invoice Factoring. BlueVine - Quick approval with low rates. 5%. altLINE is an invoice factoring and A/R financing platform that’s backed by The Southern Bank Company. To pay rent. Jim is the General Manager of altLINE by The Southern Bank. Invoice Factoring. altLine can factor up to 90% of $4,000,000 worth of invoices each month. Lower Rates. Outstanding Factoring Services. Grey was previously the Director of Marketing for altLINE by The Southern Bank. altLINE partners with lenders nationwide to provide invoice factoring and accounts receivable financing to their small and medium-sized business customers. Invoice factoring with altLINE gets you the instant cash you need so you can keep growing your business. However, there is quite a bit of variance from source to source regarding small business. As a bank, AltLINE provides direct funding, eliminating the need for intermediaries and reducing borrowing costs. Factoring for consulting firms through altLINE works by turning unpaid invoices into cash to pay operating expenses and payroll, while fueling company growth. It is a bank factoring firm that provides the same services as independent factoring companies, in addition to delivering the benefits of collaborating with a local bank. Through invoice factoring, Hernandez has stabilized D&A’s cash flow and grown her business. Summary of the best factoring companies of 2023. Invoice Factoring. Accounts receivable financing, also called accounts receivable factoring, is the process of financing outstanding invoices in order to access the cash value sooner. In invoice factoring relationships, float refers to the difference between the time the finance company receives a payment and when it gives the factoring customer credit for the payment. a direct financing source; 90% of eligible invoices are delivered; Completely transparent; altLINE is a dependable and trustworthy invoice factoring business known for its minimal prices. Requires client’s customers to be credit worthy. Whether you're a banker, a broker or an advisor, altLINE has a program for you. Invoice factoring with altLINE gets you the instant cash you need so you can keep growing your business. Raleigh has seen incredible growth over the past 15 years. With invoice factoring, businesses sell unpaid invoices to a factoring company, like altLINE, in exchange for a cash advance. altLINE has been in the factoring industry for more than 80 years. Many invoice factoring providers offer extra services for free, such as accounts receivable (A/R) management and collections. The factor. altLINE has made invoicing your clients that much easier. Unlike many factoring companies, altLINE has factoring programs specifically catering to start up businesses and was able to put a facility in place. So, even if you don’t need to continue to factor invoices, the factoring company won’t let you out of the contract until the time commitment has been met. altLINE Invoice Factoring . Call us at +1 (205) 607-0811. 5% for invoices paid within one month and up to 5% for longer repayment periods. Back. It’s the ideal choice for businesses with a large volume of invoices to sell. When utilized correctly, the. It can be hard to know which one is the best out of all those options. altLINE Advances 80-90% Of The Invoice Face Value. 5% to 3% and up to 90% payment initially, invoice factoring through AltLINE could easily be one of the lowest interest rate loans available to your business. When you factor with altLINE, we fund up to 90% of your invoices now, offering you a critical boost in. They offer top-notch services to companies looking for. Jim is the General Manager of altLINE by The Southern Bank. Once Tom’s Trucking submits. What’s more, much of that growth can be attributed to companies under 2 years old, which increased SBA 7 (a) borrowing by 83% from 2020 to 2022. The company has grown from no revenue to $500,000 month in billings in the. A factoring contract is an agreement where a small business sells outstanding invoices to third parties — known as factors — in exchange for upfront cash. The payor is the drawer of a check. We offer invoice factoring, a/r financing and asset based lending. This works in 4 short steps. For example, an invoice factoring company such as altLINE will run a background check on your business, which includes looking into your creditworthiness. This type of financing used by staffing companies is known as payroll funding or payroll financing. Max loan. What makes us different? Rates from 0. Manufacturing businesses, as well as a host of professional service industries, are often a perfect fit for invoice factoring, as they consistently struggle with delayed payment terms that result in cash shortages. altLINE deals in invoice factoring and accounts receivable factoring. General B2B Businesses. altLINE is a direct bank lender and a division of The Southern Bank Company, a community bank originally. With 10 years’ experience in digital marketing, content creation and small business operations, he helped businesses find the information they needed to make informed decisions about invoice factoring and A/R financing. 50%. altLINE partners with lenders nationwide to provide invoice factoring and accounts receivable financing to their small and medium-sized business customers. 5. Because you don’t have to wait 30 to 90 days to receive your money, you can put it to work immediately in your. In 2021, the U. altLINE — Best for Flexibility. Full recourse factoring places all of the business’s liability that has engaged a factor for invoice factoring. In response, The Southern Bank developed altLINE, an Accounts Receivable based financing platform for commercial customers. Jim is the General Manager of altLINE by The Southern Bank. 5 Charge a Late Payment Fee. altLINE partners with lenders nationwide to provide invoice factoring and accounts receivable financing to their small and medium-sized business customers. Instead of waiting on customers to pay their invoices, a janitorial factoring company can give you cash whenever needed. Invoice factoring with altLINE gets you the instant cash you need so you can keep growing your business. Don’t see your company’s industry listed? That’s okay! Give us a call at +1 (205) 607-0811, and we can discuss how altLINE can help with. 1. Learn how to convert your unpaid invoices into working capital so you can get back to growing your business. altLINE is a direct bank lender and a division of The Southern Bank Company, a community bank originally. With altLINE, factoring fees are typically 1% – 3% of the invoice face value, if paid within 45 days. In this case, additional capital helps to ‘solve the cash flow crunch’ or ‘bridge the gap. Average AR Financing Fees. The truck’s odometer is read at the start and end of the trip, and the driver is paid based on the total mileage. It has factored more than $800 million in invoices and has been operating since 1936. altLINE partners with lenders nationwide to provide invoice factoring and accounts receivable financing to their small and medium-sized business customers. Here at altLINE, we make brokers’ lives easier by offering speed, flexibility, and a competitively priced offering that gets deals done, and we do so while offering a competitive commission structure that compensates your for your. Another top asset-based lender is altLINE. In today’s environment, buyers continue to stretch their suppliers’ payment terms, causing many small businesses in South Carolina to seek out alternative forms of financing. It is the alternative loan arm of The Southern Bank Company. If you don’t qualify for altLINE’s invoice. To take on new orders / clients. Lending Options. Standard factoring agreements involve a factoring company like altLINE simply purchasing your accounts receivable. AltLine the Southern Bank Company: Factor up to 95% of invoices. altLINE has been in the factoring industry for more than 80 years. According to Tywanna Maye, an Account Manager at altLINE, invoice factoring “creates a positive cash flow because by selling invoices, the company is paid immediately instead of waiting on their customers to pay them. Factoring with altLINE gets you the working capital you need to keep growing your business. Invoice factoring is a great alternative finance solution that works great in these industries. With an A+ rating from the Better Business Bureau, 40+ 5-star ratings on Trustpilot , and top marks from sites like Investopedia and Forbes , we offer a top notch customer experience and provide you with funding fast. Thus, invoice factoring is an ideal financing solution for a business not wanting to wait 30,60 or 90 days for their receivables to roll in. However, we're confident that for a large group of small to medium-sized businesses, factoring invoices. Turn your outstanding invoices into cash Give altLINE A Try . Jim is the General Manager of altLINE by The Southern Bank. Unlike other factoring companies in Beaumont, we don’t charge. Fast Approval. Click the link below to find out more and apply via LinkedIn. However, other agreements involve a factoring company merely advancing funds to another company. You can generally expect a factoring advance rate of 80-90% of your invoice’s face value and receive the cash advance between 24 and 48 hours after submission to altLINE. This lag in time may equate to as long as 30-60 days and causes cash flow problems for many businesses, particularly staffing companies. altLINE's low fees make it the best overall factoring company By Brian Carmody Updated May 04, 2023 Fact checked by Hans Daniel Jasperson We. You can typically expect a factoring advance rate of 80-90% of your invoice’s face value, deposited within 24 to 48 hours of submission to altLINE. Know your notification date and set up a calendar reminder to review the agreement each year. Call the altLINE Factoring Hotline. Get Started. The quote request is a simple, straightforward, easy process that can be completed in a few minutes. AltLINE offers fast invoice. You can generally expect a factoring rate of 80%-90% of each invoice’s face value and receive the cash advance between 24 and 48 hours of submission to altLINE. altLINE Advances Up To 80-90% Of The Invoice Face Value. Unlike many factoring companies, altLINE has factoring programs specifically catering to start up businesses and was able to put a facility in place. Business owners always seek out ways to leverage their assets. It’s a particularly popular financing method for small business owners looking to get paid faster and improve cash flow in the. Back. In today’s environment, buyers continue to stretch their suppliers’ payment terms, causing many small businesses in Florida to seek out alternative forms of financing. Jim is the General Manager of altLINE by The Southern Bank. Non-Recourse Factoring Explained. Angela joined altLINE in 2022 after several years of working in digital marketing across various industries including financial services and B2B. Flexibility: If you want to choose which invoices to use for financing purposes, factoring may be the option for you. altLINE partners with lenders nationwide to provide invoice factoring and accounts receivable financing to their small and medium-sized business customers. com and more. It tends to be more expensive than traditional. Unlike many factoring companies, altLINE has factoring programs specifically catering to start up businesses and was able to put a facility in place. altLINE Advances Up To 80-90% Of The Invoice Face Value. The exact timing of our cash advance deposit may vary depending on when your customer receives your goods or services. 1 billion. Turn your outstanding invoices into cash Give altLINE A Try . Invoice Factoring. The business sends an invoice for $75,000 to one of its clients after completing a route. 7 Choose to Lease Instead of Buy. 70% – 85%. If it takes your customer three months to pay. Updated on September 21st, 2023. Factoring with altLINE gets you the working capital you need to keep growing your business. Therefore, if a customer you have invoiced does not pay the invoice that the factor has bought from you, for any reason, then your company is responsible for paying the factor. Number of employees: 31. 100% Transparency. This rate is typically 0. Triumph — Best for Same-day Funding. With 10 years’ experience in digital marketing, content creation and small business operations, he helped businesses find the information they needed to make informed decisions about invoice factoring and A/R financing. altLINE partners with lenders nationwide to provide invoice factoring and accounts receivable financing to their small and medium-sized business customers. Educational services is the first industry in this ranking where average annual capital expenditures exceed the national average for all businesses of $206,383. Triumph — Best for Same-day Funding. In general, the faster a staffing company’s customers pay, the better rate it will receive. Lending Options. altLINE Factoring. Can be more expensive than other financing products. Factoring turns those invoices into cash, allowing businesses to grow. The final bullet leads us to step No. altLINE is a direct bank lender and a division of The Southern Bank Company, a community bank originally founded in 1936. altLINE by Sobanco. #5. altLINE is a direct bank lender and a division of The Southern Bank Company, a community bank originally. altLINE is a direct bank lender and a division of The Southern Bank Company, a community bank originally. In addition to working with more clients, D&A was able to open a second location after working with altLINE. Lending Options. . 50%. Companies use the cash they receive from factoring for a variety of reasons, including: To make payroll. Jim is the General Manager of altLINE by The Southern Bank. B2B factoring, also known as business-to-business factoring, is a financial transaction in which a business sells its accounts receivables, or unpaid invoices, to a third-party company, known as a factoring company. Nebraska and North Dakota are other states where small businesses fail at high rates. altLINE. altLINE partners with lenders nationwide to provide invoice factoring and accounts receivable financing to their small and medium-sized business customers. altLINE is a direct bank lender and a division of The Southern Bank Company, a community bank originally. Learn how to convert your unpaid invoices into working capital so you can get back to growing your business. Fast Approval. altline allows you to factor what to really want to factor, you can factor high-value invoices. altLINE Advances Up To 80-90% Of The Invoice Face Value. And, unlike other providers that hide a range of fees, our transparent pricing structure keeps you in control of your financing costs. The factoring company charges a 3% factor fee for every 30 days it takes your customer to pay the invoice. According to PayScale, the average small business owner takes home a salary of $69,301 per year. Our team moves quickly so that you can get the cash you need to keep growing your business. In this transaction, the factor provides the business with immediate cash by paying them a percentage of the value of the invoices. Below are a few sectors that we can help, but our factoring services are not limited to just the industries below. The Average Small Business Owner Salary Is $69,301. altLINE Advances Up To 80-90% Of The Invoice Face Value. Six Ways to Get Loads for Trucks. Back. The ultimate goal of non-notification factoring is the same as that of traditional invoice factoring – to increase working capital. O. 75%). Trusted Bank Since 1936. Jim is the General Manager of altLINE by The Southern Bank. With 10 years’ experience in digital marketing, content creation and small business operations, he helped businesses find the information they needed to make informed decisions about invoice factoring and A/R financing. altLINE is a direct bank lender and a division of The Southern Bank Company, a community bank originally founded in 1936. These higher fees can lead to a lower profit margin for businesses. Resources. Businesses with larger transaction volumes and larger borrowing needs require custom. If slow-paying customers are making it difficult to reach your financial goals, a factoring company like altLINE can help. 5% Maximum Account Receivable: $4 million. What makes us different? Rates from 0. 5. Aladdin Capital — Best for Small Business. At altLINE, we're aware that invoice factoring may not be the best fit for every business. There are three types of invoice financing products: invoice factoring, a/r backed lines of credit, and non-traditional invoice. altLINE partners with lenders nationwide to provide invoice factoring and accounts receivable financing to their small and medium-sized business customers. Canva. For Staffing Companies. It tops our list of invoice factoring companies because you can factor high volumes of invoices and receive an advance rate of up to 90%. Grey was previously the Director of Marketing for altLINE by The Southern Bank. The highest pay recorded for small business owners is $135,000, and the lowest pay is $30,000. Breakout Capital – Most flexible invoice factoring company. Follow the steps below to quickly and easily estimate your factoring fees: Input the value of all the invoices you plan on factoring. This means you will not have to wait for 30 or 90 days to receive the money owned by online stores. Jim is the General Manager of altLINE by The Southern Bank. altLINE is a direct source of funds so we are not exposed to borrowing costs that other independent financing and factoring companies pass on to their clients. Call us at +1 (205) 607-0811. Jim is the General Manager of altLINE by The Southern Bank. We help answer questions about companies, rates, structure & more. The NOA arrives in the mail in the format of a letter, as the initial communication notifying your customers of the change in structure and process. Factors then make money from outstanding. Download a free staffing agency invoice template for Excel or Google Sheets. Invoice factoring is a solution that turns those invoices into cash immediately. The invoice is for $50,000 of work. Call the altLINE Factoring Hotline. Your customer pays in 30 days, so your fee will be 3% of $10,000, or $300. Jim is the General Manager of altLINE by The Southern Bank. Debt factoring is based on selling accounts receivables to a third-party debt factoring. Maximum Account Receivable: $4 million. A/R Financing. However, there is quite a bit of variance from source to source regarding small business owner salary. Jim is the General Manager of altLINE by The Southern Bank. Jim is the General Manager of altLINE by The Southern Bank. Dealing With Slow-Paying Customers? altLINE Can Help. altLINE works with all business types, including startups and companies with poor or limited credit. Canva. However, invoice discounting is distinct because it’s. It also reaches a maximum of 3%, which is lower than the standard maximum of 5% for the first 30 days. The remaining 10-20% is held in reserve. altLINE has been in the factoring industry for more than 80 years. Advances up to 90%. Grey was previously the Director of Marketing for altLINE by The Southern Bank. Compare the top options. Includes info on AltLine, free trials, pricing and FAQs. My experience with altLINE's invoice factoring service has been exemplary. 5% – 4. Operating within an FDIC insured and state regulated bank, altLINE provides customers the flexibility of an independent financing company with the cost advantages and service. Once you determine which and how much of your receivable you’re going to factor, the factoring company provides an immediate cash advance, usually worth between 80% and 90% of the invoice value. TBS — Best for Low Fees. Fast Approval. Each client and each operator may be unique, but the common causes and resulting pains caused by cash flow difficulties are universal. 3%. With 10 years’ experience in digital marketing, content creation and small business operations, he helped businesses find the information they needed to make informed decisions about invoice factoring and A/R financing. According to PayScale, the average small business owner takes home a salary of $69,301 per year. Log In to FactorSoft. By factoring your invoices, you’re effectively selling your accounts receivable to a third party (a factoring company) in exchange for cash up front. What makes us different? Rates from 0. altLINE is a direct bank lender and a division of The Southern Bank Company, a community bank originally. NerdWallet rating Key Facts. Get Your Free Factoring Quote. AltLINE offers both accounts receivable financing and invoice factoring, working with small businesses in a variety of industries, including startups and those that can’t qualify for traditional. altLINE would be the greatest answer for a small company with a high-quality and quick-paying. altLINE is a direct bank lender and a division of The Southern Bank Company, a community bank originally. Map-out how you’ll generate revenue. 100% Transparency. Revenue: $5 M. Putting it in simpler terms, when payment is made by check or ACH, the transfer of money from bank. Invoice factoring is another source of working capital financing in which a company sells its accounts receivables to a third party, or factoring company, at a discounted rate. Backed by The Southern Bank Company, altLINE has provided more than $1 billion in funded invoices since 1936. Debt factoring is based on selling accounts receivables to a third-party debt factoring company. Unlike most factoring companies, it is backed by an established, reputable bank. To buy inventory or raw materials. 3 Factor Your Invoices. Min. However, before you take the plunge there are some pros and cons you should be aware of. You can apply for invoice. Asset-based lending (ABL) is the process of borrowing money that is secured by an asset, or collateral. Unlike other factoring companies in Fort Wayne, we don. altLINE partners with lenders nationwide to provide invoice factoring and accounts receivable financing to their small and medium-sized business customers. Trucking and transportation is one of the industries AltLine services. altLINE is a top-rated factoring company that doubles as a bank, so you can receive lower rates and greater transparency during the factoring process. The company has grown from no revenue to $500,000 month in billings in the. […]Invoice Factoring. Therefore, if a customer you have invoiced does not pay the invoice that the factor has bought from you, for any reason, then your company is responsible for paying the factor. altLINE, which The Southern Bank Company offers a customer financing platform that is founded on accounts receivable. 5% per 10 days (1. The factor provides a cash advance to the business that sold the invoice (typically 80 to 90% of the invoice face value) and works with their customers. altLINE deals in invoice factoring and accounts receivable factoring. altLINE offers competitive rates and can take advantage of not. Input the factoring rate (sometimes referred to as the interest rate). altLINE — The Lowest Fees. altLINE is a direct bank lender and a division of The Southern Bank Company, a community bank originally founded in 1936. Get Started. altLINE Advances 80-90% Of The Invoice Face Value. AltLINE prides itself on serving businesses in a number of industries, in nearly any stage of growth and with a variety of financial needs. Factor Fee Speed; Up to 100% of invoice value: Until the customer pays the invoice: Approx. altLINE offers competitive rates and can take advantage of not. When you factor with altLINE, we fund up to 90% of your invoices now, offering you a critical boost in cash flow that helps you stay on top of your expenses, no matter where your outstanding. altLINE partners with lenders nationwide to provide invoice factoring and accounts receivable financing to their small and medium-sized business customers. Market Cap: 4. While you can continue to send in new referrals and receive a reward for each initial referral funding, you can only. Have a Plan to Generate Revenue. Grey was previously the Director of Marketing for altLINE by The Southern Bank. To report lost or stolen ATM/debit cards, please call 1-866-546-8273 24 hours a day. altLINE has been wonderful to work with and I’ve always felt confident that they have my back. altLINE offers competitive rates and can take advantage of not. Zero Hidden Fees. Fast Approval. As a company grows and experiences an increased need for cash, they will likely seek out various forms of financing. It is the alternative loan arm of The Southern Bank Company. They offer easy approval, low rates, transparency, and are FDIC-insured. Some online lists of the worst factoring companies might consider altLINE solely because of the time it takes to process applications. The exact timing of your cash deposit generally depends on your customer’s receipt and acknowledgment of. 50%. 6 Reduce Inventory. Some factoring companies require a time commitment of three to 12 months. 5. At altLINE, we charge $30 per wire transfer. Invoice factoring is an alternative financing option in which a business sells its outstanding invoices to a third-party factoring company (often referred to as a factor) for a discounted rate. Rated Top Factoring Company of 2023 Investopedia, TheBalanceSMB, Fundera, Business. Once the factoring company collects payment on the invoices (from the end customer) it advances the remaining 10-20% minus a “factoring fee” of anywhere from 1-5%. To pinpoint the areas nationwide where small businesses abound, altLINE used Census Bureau data to find the county in each state with the highest concentration of small businesses in 2021, calculated as small establishments per 1,000 residents. For some businesses, late customer invoice payments leave a lower net profit margin than desired. Lockbox payments are an important aspect of invoice factoring and other financial transactions as they are a quick, secure way to clear checks from customers (account debtors). Your business submits that same invoice to a third-party invoice factoring company, such as altLINE (Day 1). altLINE is the invoice factoring side of The Southern Bank Company, a community bank based in Alabama. Factors then make money from outstanding invoice. These fees can range greatly from 0% to 3% of the credit line amount. Because altLINE is both a factoring company and an FDIC insured bank, we provide more transparency and lower rates than independent invoice factoring companies. Minimum Rate Percentage: 0. Fast Approval. 5%. Birmingham was founded during the post-Civil War reconstruction era. Both operate on similar principles: Your invoices will go through altLINE for the duration of. With 10 years’ experience in digital marketing, content creation and small business operations, he helped businesses find the information they needed to make informed decisions about invoice factoring and A/R financing. Call us at +1 (205) 607-0811. TBS — Best for Low Fees. Invoice factoring turns receivables into cash faster and easier than bank loans, all without affecting your credit profile. If you and a factor are working together by advancing funds on outstanding loans, you retain the ownership of. Grey was previously the Director of Marketing for altLINE by The Southern Bank. On net 30 terms, the customer must pay within 30 days of when the invoice for a product or service was provided. With more than 85 years of experience serving customers, we provide you with the best client services, assigning you a dedicated account manager to handle all of your factoring needs. Jim is the General Manager of altLINE by The Southern Bank. Grey was previously the Director of Marketing for altLINE by The Southern Bank. View all of altLINE's available lending options, and details for each. In under six months, D&A received a factoring credit line increase, enabling the business to access up to $500,000 in working capital. But, when business owners better understand what goes into calculating their credit score and how factoring works, they discover that, not only does invoice. altLINE is a direct bank lender and a division of The Southern Bank Company, a community bank originally. altLINE is a direct bank lender and a division of The Southern Bank Company, a community bank originally founded in 1936. AltLine Factoring. ZERO Hidden Fees. 4. I found that altLINE had better reviews, was more responsive and more up front than the other providers I spoke with. Invoice factoring fees are typically 1-5% of the total invoice value, which is usually a bit more expensive than other forms of financing. Angela loves creating content that helps readers better understand their financing options and helps them make informed decisions about factoring. altLINE partners with lenders nationwide to provide invoice factoring and accounts receivable financing to their small and medium-sized business customers. You would create a sales order for $4,000 and record it as an open sales order. You can generally expect a factoring advance rate of 80-90% of your invoice’s face value and receive the cash advance between 24 and 48 hours after submission to altLINE. Importantly, lending in 2022 was still about 14% above 2020, showing that at least some of the growth continued.