Remember a shorter term is best, don’t sign multi-year agreements. Spot factoring, also known as single invoice factoring, is a way for companies to improve cash flow without taking out a loan or selling equity. For Brokers . 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. altLINE partners with lenders nationwide to provide invoice factoring and accounts receivable financing to their small and medium-sized business customers. Call the altLINE Factoring Hotline. Financing cash flow is the flow of cash for financing-related matters of a business, including the purchase or sale of stock, paying out dividends to shareholders, and borrowing and paying down debt. This rate is typically 0. Note that factoring is an alternative lending option, which you can actually qualify for even with poor credit. AltLINE’s Justice estimated his minority invoice factoring customer base at “around 50 to 60 percent,” but, as of this posting, was unable to provide numbers on the total dollar amount. Advances up to 90%. This type of financing is a sale, not a loan. 5% – 4. What makes us different? Rates from 0. Read on to learn more about the five most common sources of business startup capital. Invoice factoring is a solution that turns those invoices into cash immediately. Call us at +1 (205) 607-0811. While working locally with small and medium-sized businesses, The Southern Bank recognized the consistent need for non-traditional commercial lines of credit. Aladdin Capital — Best for Small Business. Give altLINE a Call. Spot factoring differs from traditional invoice factoring because it is primarily used to factor a single large invoice, rather than a set of invoices. altLINE has been in the factoring industry for more than 80 years. 4. If you send in another referral, you will receive a second e-gift card upon that referral’s initial funding. AltLINE offers fast invoice factoring through an online-based process. Download a free staffing agency invoice template for Excel or Google Sheets. Canva. Jim is the General Manager of altLINE by The Southern Bank. 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. Although, you may pay an origination fee that typically runs from. With traditional factoring, A/R financing and asset based lending, altLINE accelerates your cash flow and allows you to. 2. Zero Hidden Fees. altLINE advances up to 90% of an invoice — a normal range for invoice factoring providers serving companies with higher monthly revenue. Sample fees include: 1% per 10 days (3% per month) 0. Cons : Potential for reduced upfront funding: altLINE offers advance rates ranging from 80 to 90% of the invoice amount, so the full value of your invoices may. However, before you take the plunge there are some pros and cons you should be aware of. Jim is the General Manager of altLINE by The Southern Bank. Using Factoring to Reduce Cash Flow Problems. When you buy through links on our site, we may earn an affiliate commission. Why factor with altLINE in South Carolina? Accounts Receivable Financing, or Factoring, is a quick, effective means of infusing your business with cash. By eliminating intermediaries, the company reduces costs and improves reliability and trust for its clients. Jim is the General Manager of altLINE by The Southern Bank. You can generally expect a factoring advance rate of 80-90% of every invoice’s face value and receive the cash advance between 24 and 48 hours of submission to altLINE. Call the altLINE Factoring Hotline +1 (205) 607-0811. 70% – 85%. Invoice Factoring. Educational services is the first industry in this ranking where average annual capital expenditures exceed the national average for all businesses of $206,383. You can apply for invoice factoring from altLINE online—qualified businesses can receive funding in as little as 48 hours. It is the alternative loan arm of The Southern Bank Company. Full recourse factoring places all of the business’s liability that has engaged a factor for invoice factoring. The Southern Bank has been around for over 80 years so you know you’re in good hands. Because altLINE is both a factoring company and an FDIC insured bank, we provide more transparency and lower rates than independent invoice factoring companies. 4 likes. Jim is the General Manager of altLINE by The Southern Bank. Resources. With a factoring fee of just 1. When you are approved, the factoring company sets up a factoring account to handle the transactions. For example, for each invoice a business sells to the factor, typically 80-90% of the value of the invoice is immediately advanced to the business. altLINE is a direct bank lender and a division of The Southern Bank Company, a community bank originally. Get Started. 5%. A study by the Nebraska Business. Advance rate. Staffing companies often fall victim to long invoice terms and slow-paying customers. Zero Hidden Fees. altLINE has been in the factoring industry for more than 80 years. A factoring company like altLINE will accept almost all outstanding customer invoices, so long as the customers have a fair credit score or have been reliable payors in the past. Debt factoring, perhaps more commonly known as invoice factoring,. However, there is quite a bit of variance from source to source regarding small business owner salary. Unlike many factoring companies, altLINE has factoring programs specifically catering to start up businesses and was able to put a facility in place. Businesses in Arkansas within these industries should consider working. We also soften the financial blow of late customer payments by improving your cash flow. TBS — Best for Low Fees. One way to do so is by utilizing debt factoring — a specific form of financing designed to help partners and managers reach short-term business goals and obtain funding without a loan. Zero Hidden Fees. altLINE by Sobanco. Importantly, lending in 2022 was still about 14% above 2020, showing that at least some of the growth continued. 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. Online load boards make finding loads for trucks accessible for every trucking company. Grey was previously the Director of Marketing for altLINE by The Southern Bank. Kansas City is the largest city in the state of Missouri. As it grows, businesses turn to invoice factoring to help maintain working capital. Advances up to 90%. Need more cash in your business? Seasonality, delinquent customers, long payment cycles, and even rapid growth can put stress on your company’s cash reserves. This works in 4 short steps. Businesses with larger transaction volumes and larger borrowing needs require custom. Based on their professionalism and customer service, I would recommend altLINE to other businesses looking for invoice factoring solutionsPayroll loans and payroll funding (also known as payroll factoring) provide important ways to balance occasionally unpredictable flows of money. 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. Factoring with altLINE gets you the working capital you need to keep growing your business. Resources. We help provide solutions to customers from a wide variety of sources. Learn how to convert your unpaid invoices into working capital so you can get back to growing your business. It offers businesses the flexibility of an independent financing company with the cost savings of a bank. Trusted Bank Since 1936. altLINE partners with lenders nationwide to provide invoice factoring and accounts receivable financing to their small and medium-sized business customers. If you and a factor are working together by advancing funds on outstanding loans, you retain the ownership of. The cost of payroll funding for staffing agencies can range from 1% – 7% of the invoice face value, depending on several criteria. Angela loves creating content that helps readers better understand their financing options and helps them make informed decisions about factoring. We’re Hiring! Lending Assistant in Gadsden, AL. Log In to FactorSoft. box. altLINE partners with lenders nationwide to provide invoice factoring and accounts receivable financing to their small and medium-sized business customers. altLINE Advances Up To 80-90% Of The Invoice Face Value. It is the alternative loan arm of The Southern Bank Company. The business sends an invoice for $75,000 to one of its clients after completing a route. 4. Back. 2 Offer Early Payment Discounts. Factor Rate: Similar to an interest rate, this determines how much the merchant cash advance will cost. At altLINE, we're aware that invoice factoring may not be the best fit for every business. Zero Hidden Fees. You can generally expect a factoring advance rate of 80-90% of the total invoice value, and you will receive the cash advance between 24 and 48 hours after submission to altLINE. Spot factoring differs from traditional invoice factoring because it is primarily used to factor a single large invoice, rather than a set of invoices. 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. This information can help you make the right decision for your business. In addition to working with more clients, D&A was able to open a second location after working with altLINE. With business growth comes the need for invoice factoring. While the city isn’t as old as some, it served as the main. What makes us different? Rates from 0. Therefore, the factoring transactions require several entries. Therefore, once your customer pays the invoice to your factor, the factor can simply pay out the remaining invoice amount to your business (minus a small factoring fee, typically 0. Get Started. altLINE. box. Call us at +1 (205) 607-0811. Give altLINE a Call. More complex structure benefits businesses with steady borrowing needs. If it takes your customer three months to pay. Plus, clients can factor invoices in high volumes and get an advance rate of up to 90%! Based on the customer reviews, altLINE’s customer service is top-notch. com and more. Advances up to 90%. If you’re considering an MCA, you’re not alone. In the rare instance your customer never. altLINE is a direct bank lender and a division of The Southern Bank Company, a community bank originally. 75%). The exact timing of our deposit may vary depending on when you complete the job. Learn how to convert your unpaid invoices into working capital so you can get back to growing your business. The final bullet leads us to step No. 4. AltLINE’s fees are structured in such a manner that it benefits bills that are paid within 30 days. Companies use the cash they receive from factoring for a variety of reasons, including: To make payroll. altLINE is a direct bank lender and a division of The Southern Bank Company, a community bank originally. A staffing agency is an ideal option to navigate because they have a simple process for employees. altLINE is a direct bank lender and a division of The Southern Bank Company, a community bank originally. Each client and each operator may be unique, but the common causes and resulting pains caused by cash flow difficulties are universal. The notice of assignment (NOA) informs your customer that a third party (bank, financing company, or factoring company) will manage and collect your accounts receivable (AR) going forward. Get Started. factoring industry was valued at $147 billion. Termination Fee. A factoring company like altLINE will file a UCC on the client’s business, but since we do not offer factoring services for import-export companies, you will have to ask your lender before the process begins, as it may vary from factor-to-factor. Here is a quick comparison of 5 best factoring companies. Call the altLINE Factoring Hotline +1 (205) 607-0811. 5 to 3. After the clients pay, the small business pays the loan back. Businesses with larger transaction volumes and larger borrowing needs require custom. Summary of the best factoring companies of 2023. 5. Tom’s Trucking is a refrigerated freight company that uses altLINE to factor its invoices. Follow the steps below to quickly and easily estimate your factoring fees: Input the value of all the invoices you plan on factoring. 75%). This type of financing used by staffing companies is known as payroll funding or payroll financing. At altLINE, we're aware that invoice factoring may not be the best fit for every business. Record the factoring fee and the estimated bad debts as a debit loss. altLINE partners with lenders nationwide to provide invoice factoring and accounts receivable financing to their small and medium-sized business customers. To take on new orders / clients. While you can continue to send in new referrals and receive a reward for each initial referral funding, you can only. Moreover, our invoice factoring services help you focus on growing your. S. Jim is the General Manager of altLINE by The Southern Bank. Instead, many Virginia Beach business owners turn to invoice factoring as an effective and accessible alternative financing solution that boosts working capital. Effectively planning and strategizing is of utmost importance for any entrepreneur or small business owner; this is no different for trucking owner-operators. 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. Not only is altLINE a bank factoring company, but we have 86 years of experience serving customers. Jim is the General Manager of altLINE by The Southern Bank. 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). Jim is the General Manager of altLINE by The Southern Bank. Non-Recourse Factoring Explained. 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. Overall, altLINE works primarily with staffing and consulting firms, but they also fund businesses in the manufacturing and distribution industries, as well as government contractors. 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. altLINE is a direct bank lender and a division of The Southern Bank Company, a community bank originally. OTR Solutions – Best for freight companies. 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. Resources. Why We Chose It. Learn about AltLine Invoice Factoring Software. 100% Transparency. 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. With traditional factoring, A/R financing and asset based lending, altLINE accelerates your cash flow and allows you to invest into your business. 10. altLINE is a direct bank lender and a division of The Southern Bank Company, a community bank originally. altLINE. Factoring with altLINE has its benefits. The payee is the recipient of a check, or who the check is made payable to. 2. When selling your receivables, a factoring company like altLINE won’t require collateral. A bank lockbox payment is a payment processing service in the form of a P. If you don’t qualify for altLINE’s invoice. 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. Then you would create a purchase invoice for $2,400 and record it as an open purchase invoice. The difference between recourse and non-recourse. You receive access to personalized jobs. Companies use the cash they receive from factoring for a variety of reasons, including: To make payroll. Typically, invoice automation software has capabilities that include sending, receiving, reviewing, matching, and approving invoices. See how bankers, brokers, and financial advisors can partner with altLINE as a part of our referral program. Your customer pays in 30 days, so your fee will be 3% of $10,000, or $300. 100% Transparency. Referral Program for Factoring Brokers. You tend to have more flexibility in which invoices you factor, while with invoice financing, you often have to submit your entire invoice book for financing. 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. It is up to you as a business owner to determine which invoices to sell based on the amount. It is up to you as a business owner to determine which invoices to sell based on the amount. In under six months, D&A received a factoring credit line increase, enabling the business to access up to $500,000 in working capital. Our team moves quickly so that you can get the cash you need to keep growing your business. Unlike many factoring companies, altLINE has factoring programs specifically catering to start up businesses and was able to put a facility in place. Interest rates may be low and capital abundant, but traditional business credit criteria remains tight. A bank lockbox payment is a payment processing service in the form of a P. Whatever a lender may call it, there are certain things to keep in mind when evaluating options. The exact timing of your cash advance deposit usually depends on the date of your client’s receipt and job. General B2B Businesses. February 7, 2017 / by Grey Idol. Get Started. What makes us different? Trusted Bank Since 1936. altLINE is a direct bank lender and a division of The Southern Bank Company, a community bank originally. Apex Capital Corp: 24/7 factoring, no required minimum volume, and no long-term contract requirements. Entrepreneurship is booming and the concentration of top. Spot factoring, also known as single invoice factoring, is a way for companies to improve cash flow without taking out a loan or selling equity. Unlike most competitors, altLINE offers a factoring fee starting at 0. Because you don’t have to wait 30 to 90 days to receive your money, you can put it to work immediately in your. altLINE — The Lowest Fees. Janitorial factoring through altLINE works to fund your business through cash advances. According to the Transportation Statistics Annual Report, trucks transport 73% of total freight value and 67% of total freight weight. Unlike other factoring companies in Beaumont, we don’t charge. Grey was previously the Director of Marketing for altLINE by The Southern Bank. Factor Rate: Similar to an interest rate, this determines how much the cash flow loan will cost. AltLINE This immediately makes them a competitive consideration if you’re looking for flexible cash flow through invoice factoring. altLINE is a direct bank lender and a division of The Southern Bank Company, a community bank originally. The company has grown from no revenue to $500,000 month in billings in the. Asset-based loans or lines of credit can be borrowed against equipment, property, inventory or receivables (in the form of an invoice factoring service ). 3% processing fee, plus factor fee (~1%) each week until invoice is paid:. Trusted Bank Since 1936. They offer top-notch services to companies looking for. Grey was previously the Director of Marketing for altLINE by The Southern Bank. 5% Maximum Account Receivable: $4 million. This lender requires that you are able to factor at least $15,000 per month. 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. Jim is the General Manager of altLINE by The Southern Bank. Turn your outstanding invoices into cash Give altLINE A Try . Flexibility: If you want to choose which invoices to use for financing purposes, factoring may be the option for you. Invoice factoring fees are typically 1-5% of the total invoice value, which is usually a bit more expensive than other forms of financing. Some factoring companies require a time commitment of three to 12 months. The discount serves as the service charge for the entity taking on the owed invoices. With an A+ rating from the Better Business Bureau, altLINE is dedicated to providing quality customer service and invoice factoring to small and medium sized businesses across the United States. 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. 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. This is where an alternative financing method such as invoice factoring can help. Give altLINE A Try . 1. altLINE is a direct bank lender and a division of The Southern Bank Company, a community bank originally. Factor rates are typically between 1. Unlike traditional loans, invoice factoring allows one to sell outstanding invoices to a factoring business for instant funding. 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. Angela joined altLINE in 2022 after several years of working in digital marketing across various industries including financial services and B2B. Benefits of Invoice Factoring. altLINE is a direct bank lender and a division of The Southern Bank Company, a community bank originally. altLINE has been wonderful to work with and I’ve always felt confident that they have my back. altLINE Advances 80-90% Of The Invoice Face Value. 5. Click calculate. Canva. Best overall: altLINE. altLINE is a direct bank lender and a division of The Southern Bank Company, a community bank originally founded in 1936. altLINE partners with lenders nationwide to provide invoice factoring and accounts receivable financing to their small and medium-sized business customers. Instead, altLINE focuses on your invoices and payment due dates as part of the approval process. Rated Top Factoring Company of 2023 Investopedia, TheBalanceSMB, Fundera, Business. The industry makes $5 to $10 billion in capital each year. When these invoices, or accounts receivable, are paid by clients, the money will go to the factor, rather than the small business itself. Advances up to 90%. Rated Top Factoring Company of 2023 Investopedia, TheBalanceSMB, Fundera, Business. Invoice factoring fees are typically 1-5% of the total invoice value, which is usually a bit more expensive than other forms of financing. O. altLINE partners with lenders nationwide to provide invoice factoring and accounts receivable financing to their small and medium-sized business customers. altLINE partners with lenders nationwide to provide invoice factoring and accounts receivable financing to their small and medium-sized business customers. The exact timing of our deposit may vary depending on when you complete the job. Angela loves creating content that helps readers better understand their financing options and helps them make informed decisions about factoring. Before selling, collect your unpaid invoices, making sure to select high-value invoices that can provide enough cash inflows during the payment duration. One way to do so is by utilizing debt factoring — a specific form of financing designed to help partners and managers reach short-term business goals and obtain funding without a loan. Jim is the General Manager of altLINE by The Southern Bank. Grey was previously the Director of Marketing for altLINE by The Southern Bank. You will receive a single, $250 Visa e-gift card the first time your referral funds with altLINE. Get Your Free Factoring Quote. Invoice factoring is a great tool for improving cash flow for your business. 957 M Minimum Rate Percentage: 0. It is the alternative loan arm of The Southern Bank Company. This makes for a great way to keep your cash flow consistent, as it removes the process of waiting for your customer to pay an. altLINE is a direct bank lender and a division of The Southern Bank Company, a community bank originally. 5. Requires client’s customers to be credit worthy. With security guard factoring, a third-party factoring company such as altLINE fronts 80-90% of an invoice, allowing security companies like yours to instantly unlock capital within days of invoicing a customer. Unfortunately, no. altLINE partners with lenders nationwide to provide invoice factoring and accounts receivable financing to their small and medium-sized business customers. Arkansas’s economy is largely dependent on its manufacturing industry. Best for Unsecured invoice factoring. Jim is the General Manager of altLINE by The Southern Bank. Call the altLINE Factoring Hotline +1 (205) 607-0811. 75% to 3. And, unlike other providers that hide a range of fees, our transparent pricing structure keeps you in control of your financing costs. altLINE partners with lenders nationwide to provide invoice factoring and accounts receivable financing to their small and medium-sized business customers. The exact timing of our cash advance deposit may vary depending on when your customer receives. sobanco) RTS Financial; TCI Business Capital; Riviera Finance; PorterFreight Funding; Factor Funding Company; Fundbox; Comparison Between Best. altLINE partners with lenders nationwide to provide invoice factoring and accounts receivable financing to their small and medium-sized business customers. altLINE is the invoice factoring side of The Southern Bank Company, a community bank based in Alabama. Grey was previously the Director of Marketing for altLINE by The Southern Bank. 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%. However, there is quite a bit of variance from source to source regarding small business. Summary of the best factoring companies of 2023. com and more. altLINE is a direct bank lender and a division of The Southern Bank Company, a community bank originally. If you’re a B2B business, you’re all too familiar with complex cash flow challenges, especially if you. 2. See how bankers, brokers, and financial advisors can partner with altLINE as a part of our referral program. You can typically expect a factoring advance rate of 80-90% of each invoice’s face value and receive the cash advance between 24 and 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. Finding the right financing fit for your client is what brokers do best. Rates may differ for individual businesses based on credit history, industry or other factors. Fees can be negotiated with the factoring company and vary by client. Invoice factoring is a form of alternative financing that converts your outstanding invoices into cash by selling them to a third party, or factoring company, in exchange for a cash advance. Tom’s Trucking is a refrigerated freight company that uses altLINE to factor its invoices. altLINE partners with lenders nationwide to provide invoice factoring and accounts receivable financing to their small and medium-sized business customers. To report lost or stolen ATM/debit cards, please call 1-866-546-8273 24 hours a day. 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. What makes us different? Rates from 0. To qualify for invoice factoring from AltLINE, you need to have a minimum 500 FICO score and the ability to factor at least $15,000 of your invoices per month. 5% per 10 days (1. altLINE Advances Up To 80-90% Of The Invoice Face Value. They also offer approval in 24 hours, so cash can arrive quickly. Outstanding Factoring Services. Jim is the General Manager of altLINE by The Southern Bank. Total business applications: 58,260 (Rank: #1) Business applications per capita: 26. 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. $10,000,000: 300: View Details. 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. Number of employees: 31. Non-notification factoring is used by businesses to improve accounts receivable cash flow as an alternative to financing methods such as traditional factoring, taking out a loan, or applying for a line of credit. 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. For these businesses, invoice factoring is a viable option for obtaining access to capital but some businesses may be reluctant to utilize it for fear of affecting their credit score. Back. Industry. Business owners who are considering invoice factoring to improve A/R cash flow may wonder what the payment process looks like between their customer and the factor. Even if your customer doesn’t pay the invoice immediately, you still receive that capital thanks to the cash advance. The application process for altline factoring: altline doesn’t charge an application fee, for joining its factoring program. Is altline factoring right for your business: altline by Southern Bank is easy to approach, comprehensive, and responsive brand which helps you to get liquidity form a great alternative lending brand. Aladdin Capital — Best for Small Business. The payor is not permitted to deposit a check to a bank or financial institution. Invoice factoring is a great alternative finance solution that works great in these industries. Financing Cash Flow. Have a Plan to Generate Revenue. 5%. You can typically expect a factoring advance rate of 80-90% of each invoice’s face value and receive the cash advance between 24 and 48 hours after submission to altLINE. Jim is the General Manager of altLINE by The Southern Bank. As a company grows and experiences an increased need for cash, they will likely seek out various forms of financing. Stay up-to-date with Factoring Services Market research offered by AMA Research. altLINE is a direct bank lender and a division of The Southern Bank Company, a community bank originally founded in 1936. Alternatives To Invoice Factoring Companies for Small BusinessesDifferent factoring companies offer different services at varying pricing rates. A bank factoring company is exactly what it sounds like, a federally regulated bank that factors invoices for clients. Result: The factoring line that was put in place has given the founders to take on growth at a rapid, yet healthy pace. Revenue: $5 M Number of employees: 31 Market Cap: 4. Initial Filing Fee / Origination Fee: An initial filing fee (or origination fee) is charged to process the invoice factoring application. altLINE is a direct bank lender and a division of The Southern Bank Company, a community bank originally. Invoice Factoring. 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. The factor rate is typically between 1. altLINE works mostly with clients who can commit to factoring a large amount of receivables regularly. Zero Hidden Fees. AltLINE offers fast invoice factoring with competitive factoring rates. In 2021, the U.