{"id":2940,"date":"2025-02-13T01:03:18","date_gmt":"2025-02-13T01:03:18","guid":{"rendered":"https:\/\/test5.samplewebsitelink.com\/onboardmoney\/?page_id=2940"},"modified":"2025-02-13T01:31:22","modified_gmt":"2025-02-13T01:31:22","slug":"altline-factoring","status":"publish","type":"page","link":"https:\/\/test5.samplewebsitelink.com\/onboardmoney\/altline-factoring\/","title":{"rendered":"AltLINE Factoring"},"content":{"rendered":"\t\t
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AltLINE Factoring<\/h1>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t
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AltLINE Factoring: 2025 Review<\/h2>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t
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For businesses looking for invoice factoring, AltLINE is a fast option with competitive rates.<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t

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Many, or all, of the products featured on this page are from our advertising partners who compensate us when you take certain actions on our website or click to take an action on their website. However, this does not influence our evaluations. Our opinions are our own.\u00a0<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t

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AltLINE - Invoice factoring<\/h2>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t
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\"BarclaysMax Loan Amount<\/strong><\/div><\/div>

$5,000,000<\/p><\/div>

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Min. credit score<\/strong><\/div>

300<\/p><\/div><\/div><\/div><\/div><\/div><\/div>

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Pros & Cons<\/h2>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t
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Pros<\/strong><\/p>

  • Capital available within 24 to 48 hours.<\/li>
  • No collateral required.<\/li>
  • Manages payment collection from your customers.<\/li>
  • Accepts startups and businesses with bad credit.<\/li><\/ul>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t
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    Cons<\/strong><\/p>

    • Fees can become expensive the longer it takes your customers to pay.<\/li>
    • Difficult to compare factoring costs to other types of business loans.<\/li>
    • Charges an origination fee.<\/li><\/ul>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t
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      Full Review<\/h2>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t
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      AltLINE, a division of the Southern Bank Company, is an online lender that specializes in invoice factoring. The company is known for its fast funding process, flexible qualification requirements and competitive factoring rates.<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t

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      AltLINE is best for borrowers who:<\/h2>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t
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      • Have business-to-business (B2B) companies. <\/span><\/strong>AltLINE offers factoring services, which are only available to businesses that have outstanding invoices to submit. Business-to-consumer (B2C) companies will need to explore other business loan options.<\/span><\/p><\/div><\/li>

      • Need capital quickly.<\/span><\/strong> You only need to complete a brief form to receive a factoring quote from AltLINE. After you complete an application and are approved, AltLINE can provide funds within 24 to 48 hours (though the majority of invoices are funded same day, according to the company).<\/span><\/p><\/div><\/li>

      • Don\u2019t meet the eligibility criteria for other lenders. <\/span><\/strong>When AltLINE underwrites your application, it focuses heavily on the creditworthiness of your customers, as opposed to more traditional business loan requirements. As a result, both startups and borrowers with bad credit may qualify.<\/span><\/div><\/li><\/ul>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t
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        AltLINE factoring features<\/h2>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t
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        With AltLINE, you sell your outstanding invoices in exchange for capital \u2014 up to 90% of the value of the invoices for most industries. AltLINE collects payment directly from your customers, and once those transactions are complete, it releases the remainder of the invoice value to you, minus fees.<\/span><\/div>
        Here\u2019s what you need to know about its factoring services:<\/span><\/div>
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        Funding amount<\/span><\/span><\/div><\/td>
        $10,000 to $5 million in invoices per month.<\/span><\/div><\/td><\/tr>
        Advance rate<\/span><\/span><\/div><\/td>
        80% to 90% of each invoice\u2019s value for most industries; up to 98.5% for freight factoring companies.<\/span><\/div><\/td><\/tr>
        Factoring fees<\/span><\/span><\/div><\/td>
        Generally range from 0.80% to 3.00% per 30 days an invoice is factored. Varies based on your creditworthiness, the invoice value and typical amount of time your invoices remain outstanding.<\/span><\/div><\/td><\/tr>
        Additional fees<\/span><\/span><\/div><\/td>
        • Initial filing\/origination fee:<\/span> $150 to $500; in certain cases up to 1% of the advance amount.<\/span><\/div><\/li>
        • Wire fee:<\/span> $15 to 30, depending on the industry; this fee is optional if you want faster access to your funds.<\/span><\/div><\/li>
        • ACH fee: <\/span>$0 to $3, depending on the industry.<\/span><\/div><\/li><\/ul><\/div><\/td><\/tr>
        Maximum overdue account<\/span><\/span><\/div><\/td>
        AltLINE can factor invoices that are up to 90 days outstanding.<\/span><\/div><\/td><\/tr>
        Contract length<\/span><\/span><\/div><\/td>
        6 to 12 months; shorter or longer contracts may be available on a case-by-case basis.<\/span><\/div><\/td><\/tr>
        Funding speed<\/span><\/span><\/div><\/td>
        You can receive funds within 24 to 48 hours of submission, possibly same day.<\/span><\/div><\/td><\/tr><\/tbody><\/table><\/div><\/div><\/div>
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        When you get a factoring contract with AltLINE, you have the option to factor all of your accounts receivable, sometimes referred to as whole ledger factoring. On the other hand, you can factor certain accounts or invoices, as long as you maintain an agreed-upon volume throughout your contract. AltLINE does not provide one-off factoring transactions.<\/span><\/div>
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        It\u2019s also important to note that AltLINE offers recourse factoring (the most common type of factoring). This means that if your customers fail to pay their invoices, you are ultimately held responsible for the debt.<\/span><\/div><\/div>
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        AltLINE factoring requirements\n<\/h2>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t
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        AltLINE does not set minimum personal credit score, time in business or annual revenue requirements. Although AltLINE may look at these factors, it mainly underwrites your application based on the creditworthiness of your customers, the age of your receivables and the value of your invoices.<\/span><\/div>
        You\u2019ll need the following to qualify for invoice factoring from AltLINE:<\/span><\/div>
        • List of existing and potential customers.<\/span><\/div><\/li>
        • An accounts receivable aging report.<\/span><\/div><\/li>
        • A business bank account.<\/span><\/div><\/li>
        • A business tax ID number.<\/span><\/div><\/li>
        • A form of personal identification.<\/span><\/div><\/li><\/ul><\/div>
          AltLINE will use your customer list and accounts receivable aging report to review the credit quality and payment behaviors of your customers.<\/span><\/div>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t
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          AltLINE factoring requirements\n<\/h2>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t
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          AltLINE does not set minimum personal credit score, time in business or annual revenue requirements. Although AltLINE may look at these factors, it mainly underwrites your application based on the creditworthiness of your customers, the age of your receivables and the value of your invoices.<\/span><\/div>
          You\u2019ll need the following to qualify for invoice factoring from AltLINE:<\/span><\/div>
          • List of existing and potential customers.<\/span><\/div><\/li>
          • An accounts receivable aging report.<\/span><\/div><\/li>
          • A business bank account.<\/span><\/div><\/li>
          • A business tax ID number.<\/span><\/div><\/li>
          • A form of personal identification.<\/span><\/div><\/li><\/ul><\/div>
            AltLINE will use your customer list and accounts receivable aging report to review the credit quality and payment behaviors of your customers.<\/span><\/div>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t
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            Where AltLINE stands out<\/h2>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t
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            Fast access to funds<\/h3><\/div>
            AltLINE offers a simple and streamlined application process. You\u2019ll fill out a brief form to get a quote and an AltLINE representative will get in touch to discuss your options. To complete an application, you\u2019ll need only minimal documentation, including your customer list and contracts, an accounts receivable aging report, business ownership documents and personal identification.<\/span><\/div>
            Once you\u2019re approved, AltLINE will help you set up a factoring account. Then, you\u2019ll be able to submit your invoices and receive funds within 24 to 48 hours. According to AltLINE, the majority of invoices are funded same day.<\/span><\/div><\/div>
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            Easy to qualify<\/h3><\/div>
            Because AltLINE doesn\u2019t set a minimum credit score or time in business requirement, its factoring services can be a good option for new B2B companies or borrowers with bad credit. Additionally, unlike more traditional lending options, AltLINE does not require you to put up physical collateral, such as equipment or real estate. The lender does, however, take out a Uniform Commercial Code (UCC) lien on your business and requires a personal guarantee.<\/span><\/div><\/div>
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            Few additional fees<\/h3><\/div>
            Not only does AltLINE offer competitive factoring rates, but it also charges very few fees. Some factoring companies charge monthly monitoring and access fees, renewal fees, as well as other extraneous costs.<\/span><\/div>
            AltLINE does not charge these types of fees. The lender does charge an origination or initial filing fee, which can range from $150 to $500, or in some cases, up to 1% of the advance amount. AltLINE also does charge fees for ACH transfers and wire payment.<\/span><\/div><\/div>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t
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            Where AltLINE falls short<\/h2>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t
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            Specific type of financing<\/h3><\/div>
            Unlike some lenders, which may offer many different types of business loans, AltLINE focuses on factoring services. As such, there are some drawbacks of invoice factoring itself that you may want to consider:<\/span><\/div>

            • Cost.<\/span><\/strong> With factoring, you sacrifice the full value of your invoice for faster access to funds. Although AltLINE offers competitive rates, factoring can become expensive the longer it takes your customers to pay.<\/span><\/p><\/div><\/li>

            • Loss of control.<\/span><\/strong> In a factoring agreement, your customers will repay your lender directly. As a result, you lose some control over your collections process and customer relationships. Although AltLINE works transparently with your customers through the process, you may prefer to retain this type of control. If that\u2019s the case, you might consider invoice financing.

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            • Can\u2019t be used to build business credit.<\/span><\/strong> Many business loan options can help you build business credit; if you make timely payments, the lender reports this information to the commercial credit bureaus. Factoring, however, isn\u2019t a traditional lending transaction \u2014 it is not reported to the credit bureaus and therefore cannot be used to build credit.<\/span><\/div><\/li><\/ul><\/div>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t
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              Specific type of financing<\/h3><\/div>
              If you\u2019re not sure if factoring is the right option for your business, it may be helpful to browse different small-business lenders. On the other hand, if you want to explore alternative factoring companies, you might consider the following:<\/span><\/div><\/div>
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              FundThrough<\/h3><\/div>
              FundThrough can be a good option if you want to factor invoices directly through your accounting or invoicing software. With FundThrough, you can connect your QuickBooks or Enverus OpenInvoice account to its online platform and select which invoices you want to fund.<\/span><\/div>
              Once your invoices are submitted, FundThrough works with your customer to verify them and redirect payment to its platform. After you\u2019re approved, you\u2019ll receive payment by the next day. To qualify for invoice factoring from FundThrough, you\u2019ll need an outstanding invoice of at least $100,000 in accounts receivables or invoices to one customer.<\/span><\/div>
              For this flexibility, however, FundThrough charges more expensive fees than AltLINE. The company charges 2.75% per 30 days, and rates increase with longer net terms.<\/span><\/div><\/div>
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              TAB Bank<\/h3><\/div>
              TAB Bank offers invoice factoring that can be a good option if you\u2019re looking for personalized customer service. Through TAB, you can access dedicated relationship managers who will discuss your financing needs and create a customized factoring solution. When you apply for factoring, you\u2019ll also work with a financial advisor, who will help explain terms and factoring rates.<\/span><\/div>
              TAB provides factoring to businesses in a variety of industries and does not have a minimum personal credit score requirement. The bank, however, does not provide details regarding rates, other fees or advance amounts on its website. You\u2019ll have to reach out to a representative directly for more information.<\/span><\/div><\/div>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<\/div>\n\t\t","protected":false},"excerpt":{"rendered":"

              AltLINE Factoring AltLINE Factoring: 2025 Review For businesses looking for invoice factoring, AltLINE is a fast option with competitive rates. […]<\/p>\n","protected":false},"author":1,"featured_media":0,"parent":0,"menu_order":0,"comment_status":"closed","ping_status":"closed","template":"","meta":{"site-sidebar-layout":"no-sidebar","site-content-layout":"","ast-site-content-layout":"full-width-container","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"disabled","ast-breadcrumbs-content":"","ast-featured-img":"disabled","footer-sml-layout":"","theme-transparent-header-meta":"","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"default","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"var(--ast-global-color-4)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"ast-content-background-meta":{"desktop":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"footnotes":""},"class_list":["post-2940","page","type-page","status-publish","hentry"],"_links":{"self":[{"href":"https:\/\/test5.samplewebsitelink.com\/onboardmoney\/wp-json\/wp\/v2\/pages\/2940","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/test5.samplewebsitelink.com\/onboardmoney\/wp-json\/wp\/v2\/pages"}],"about":[{"href":"https:\/\/test5.samplewebsitelink.com\/onboardmoney\/wp-json\/wp\/v2\/types\/page"}],"author":[{"embeddable":true,"href":"https:\/\/test5.samplewebsitelink.com\/onboardmoney\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/test5.samplewebsitelink.com\/onboardmoney\/wp-json\/wp\/v2\/comments?post=2940"}],"version-history":[{"count":4,"href":"https:\/\/test5.samplewebsitelink.com\/onboardmoney\/wp-json\/wp\/v2\/pages\/2940\/revisions"}],"predecessor-version":[{"id":2946,"href":"https:\/\/test5.samplewebsitelink.com\/onboardmoney\/wp-json\/wp\/v2\/pages\/2940\/revisions\/2946"}],"wp:attachment":[{"href":"https:\/\/test5.samplewebsitelink.com\/onboardmoney\/wp-json\/wp\/v2\/media?parent=2940"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}