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. 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. Apex Capital Corp: 24/7 factoring, no required minimum volume, and no long-term contract requirements. We help answer questions about companies, rates, structure & more. Advances up to 90%. Bank of. BlueVine - Quick approval with low rates. Get Started. Factoring rate. FactorSoft is the new invoice factoring platform that altLINE upgraded to on 10/31/22. Aladdin Capital — Best for Small Business. altLINE is a direct bank lender and a division of The Southern Bank Company, a community bank originally. The exact timing of your cash advance deposit generally depends on when your customer receives the goods or services you sell. General B2B Businesses. Advances up to 90%. Zero Hidden Fees. See how bankers, brokers, and financial advisors can partner with altLINE as a part of our referral program. altLINE typically charges $350 – $500 for the initial filing fee, but we will occasionally. Grey was previously the Director of Marketing for altLINE by The Southern Bank. Jim is the General Manager of altLINE by The Southern Bank. Pay Per Mile. altLINE is a direct bank lender and a division of The Southern Bank Company, a community bank originally founded in 1936. Grey was previously the Director of Marketing for altLINE by The Southern Bank. Input the factoring rate (sometimes referred to as the interest rate). AltLINE is a commercial financing division of The Southern Bank that offers invoice factoring services to businesses across the country. 957 M Minimum Rate Percentage: 0. 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. Non-Recourse Factoring Explained. Here are the top factoring companies for several different circumstances. AltLINE’s fees are structured in such a manner that it benefits bills that are paid within 30 days. Get Started. Typically, invoice automation software has capabilities that include sending, receiving, reviewing, matching, and approving invoices. Invoice factoring with altLINE gets you the instant cash you need so you can keep growing your business. See how bankers, brokers, and financial advisors can partner with altLINE as a part of our referral program. Fast Approval. What makes us different? Rates from 0. At altLINE, we're aware that invoice factoring may not be the best fit for every business. Debt factoring, perhaps more commonly known as invoice factoring,. 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. Companies over 2 years old saw just 3% growth in that time. Staffing companies often fall victim to long invoice terms and slow-paying customers. With invoice factoring, businesses sell unpaid invoices to a factoring company, like altLINE, in exchange for a cash advance. 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. altLINE by Sobanco. 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. Total 2021 capital expenditures industrywide: $8. 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. 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. Call us at +1 (205) 607-0811. Learn about AltLine Invoice Factoring Software. These higher fees can lead to a lower profit margin for businesses. altLINE is a direct bank lender and a division of The Southern Bank Company, a community bank originally. altLINE. altLINE offers competitive rates and can take advantage of not. 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. Angela joined altLINE in 2022 after several years of working in digital marketing across various industries including financial services and B2B. The quote request is a simple, straightforward, easy process that can be completed in a few minutes. Trucking and transportation is one of the industries AltLine services. This lender requires that you are able to factor at least $15,000 per month. It is the alternative loan arm of The Southern Bank Company. It tends to be more expensive than traditional. com and more. Accountants and Advisors Rely on altLINE. This type of financing offers faster, easier approval, and is. Know your notification date and set up a calendar reminder to review the agreement each year. 2 and 1. 100% Transparency. 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. The company has grown from no revenue to $500,000 month in billings in the. Minimum Rate Percentage: 0. Invoice Factoring. Get Started. 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. Complexity. I found that altLINE had better reviews, was more responsive and more up front than the other providers I spoke with. While working locally with small and medium-sized businesses, The Southern Bank recognized the consistent need for non-traditional commercial lines of credit. The business sends an invoice for $75,000 to one of its clients after completing a route. Jim is the General Manager of altLINE by The Southern Bank. Invoice Factoring altLINE Advances Up To 80-90% Of The Invoice Face 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. 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. Jim is the General Manager of altLINE by The Southern Bank. Jim is the General Manager of altLINE by The Southern Bank. We have factored over $1 billion in invoices for our clients and are always looking to help business owners by taking over time-consuming A/R management responsibilities. 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. ’. Payroll funding is a type of invoice factoring specific to the staffing industry. At altLINE, we have 84 years of experience helping small business owners manage and improve their A/R cash flow through invoice factoring. 100% Transparency. Trusted Bank Since 1936. Factoring with altLINE has its benefits. Invoice discounting companies offer loans of up to 95% of the total invoice value so that businesses can get the cash within a few days instead of waiting weeks. Invoice Factoring A/R Financing Payroll. Here is a quick comparison of 5 best factoring companies. 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. No need to stress over sacrificing and potentially losing valuable assets. altLINE is a direct bank lender and a division of The Southern Bank Company, a community bank originally. 50%. Rates are usually listed as CPM (or cents per mile). Trusted Bank Since 1936. 1. These higher fees can lead to a lower profit margin for businesses. Business Credit Card (s) – Share of companies using this funding source: 7. Pros & Cons. It offers the same services as independent factoring companies while. Do know, however, that UCC filings are commonly seen as an integral part of any form of lending. Click the link below to find out more and apply via LinkedIn. It is the alternative loan arm of The Southern Bank Company. Grey was previously the Director of Marketing for altLINE by The Southern Bank. Small establishments are defined as those with fewer than 500 employees. Unlike traditional loans, invoice factoring allows one to sell outstanding invoices to a factoring business for instant funding. Record a credit in recourse liability after estimating the bad debts and potential loss. Unfortunately, no. Factoring for consulting firms through altLINE works by turning unpaid invoices into cash to pay operating expenses and payroll, while fueling company growth. Jim is the General Manager of altLINE by The Southern Bank. Grey was previously the Director of Marketing for altLINE by The Southern Bank. $10,000,000: 300: View Details. Solutions; Financial SolutionsClick below or call +1 (205) 607-0811. altLINE Advances Up To 80-90% Of The Invoice Face Value. 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. 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. Not as suitable for startups or newer businesses. 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. Its blynk® digital payment system helps trucking companies get paid in minutes. altLINE is a direct bank lender and a division of The Southern Bank Company, a community bank originally. However, we're confident that for a large group of small to medium-sized businesses, factoring invoices. A bank factoring company is exactly what it sounds like, a federally regulated bank that factors invoices for clients. AltLINE offers fast invoice factoring through an online-based process. 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. The rates a good and reasonable. To take on new orders / clients. Angela loves creating content that helps readers better understand their financing options and helps them make informed decisions about factoring. You fill out an application through the staffing agency. We also soften the financial blow of late customer payments by improving your cash flow. altLINE is a direct bank lender and a division of The Southern Bank Company, a community bank originally. Unlike many factoring companies, altLINE has factoring programs specifically catering to start up businesses and was able to put a facility in place. 5% – 4. 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. Instead, many Virginia Beach business owners turn to invoice factoring as an effective and accessible alternative financing solution that boosts working capital. Some companies use invoice factoring for revenue stability. Factoring with altLINE gets you the working capital you need to keep growing your business. #7. altLINE by The Southern Bank, Birmingham, Alabama. 2 Offer Early Payment Discounts. The bank has factored over $800 million in invoices over more than 80 years. altLINE is a direct bank lender and a division of The Southern Bank Company, a community bank originally. altLINE has been in the factoring industry for. 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. Invoice Factoring. What makes us different? Rates from 0. 50%. 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. Jim is the General Manager of 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. Below are a few sectors that we can help, but our factoring services are not limited to just the industries below. Because altLINE is both a factoring company and an FDIC insured bank, we provide more transparency and lower rates than independent invoice factoring companies. altLINE, which The Southern Bank Company offers a customer financing platform that is founded on accounts receivable. In finance, the term “float” can mean a lot of things. altLINE works with all business types, including startups and companies with poor or limited credit. They’re incredibly unique because they’re a direct financing source, not a middle man. Jim is the General Manager of altLINE by The Southern Bank. Zero Hidden Fees. The factor. What makes us different? Rates from 0. Max loan. The company offers factoring services to a variety of industries aside from truck companies, making it the best option for virtually any small business. Factoring is not a. Many businesses have slow-paying customers and long payment terms, anywhere from 30-90 days, resulting in cash flow problems. Jim is the General Manager of altLINE by The Southern Bank. altLINE typically charges $350 – $500 for the initial filing fee, but we will occasionally. #5. Debt factoring is based on selling accounts receivables to a third-party debt factoring company. Business owners always seek out ways to leverage their assets. altLINE – Best for low fees. 4. For instance, if an invoice of $5,000 is sold with a 3% factoring fee, the business owner receives $4,850, resulting in a lower profit with. RTS Financial — Best for Industry-specific Services. 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. 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. Back. For them, invoice factoring is a fast and easy working capital solution that turns outstanding invoices into cash when New Orleans businesses need it most. 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. altLINE will then advance you between 80%-90% of the receipt, giving itself a discount rate of between 0. 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. When you factor with altLINE, we fund up to 90% of your invoices now, offering you a critical boost in. If you need to improve your cash flow or have been denied financing from another lender, give altLINE a call at +1 (205) 607-0811 or fill out. Before selling, collect your unpaid invoices, making sure to select high-value invoices that can provide enough cash inflows during the payment duration. altLINE is a direct bank lender and a division of The Southern Bank Company, a community bank originally. Result: The factoring line that was put in place has given the founders to take on growth at a rapid, yet healthy pace. Calculate your startup capital. 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. How are Accounts Receivable Financing Rates Determined?3. Thus, this could also be written out as 1. Unlike most factoring companies, it is backed by an established, reputable bank. altLINE has been in the factoring industry for more than 80 years. Factor Fee Speed; Up to 100% of invoice value: Until the customer pays the invoice: Approx. Try Invoice Factoring. Fast Approval. 4) Establish the Factoring Account and Get Funding. altLINE is a direct bank lender and a division of The Southern Bank Company, a community bank originally. altLINE partners with lenders nationwide to provide invoice factoring and accounts receivable financing to their small and medium-sized business customers. 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. For Bankers For Financial Advisors . Both operate on similar principles: Your invoices will go through altLINE for the duration of your contract. Jim is the General Manager of altLINE by The Southern Bank. 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. 1. 5. The bank has branch locations in Gadsden, Guntersville, Albertville and Centre, with a specialty commercial lending division, altLINE, operating out of Birmingham. These products can be useful for B2B businesses with slow-paying customers. 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. Result: The factoring line that was put in place has given the founders to take on growth at a rapid, yet healthy pace. On the other hand, if you’re looking for a monthly factoring arrangement, you might work with altLINE, which requires that businesses factor at least $15,000 per month with them. In most cases, you’ll get your advance much sooner, especially if you include a couple of invoices with your application. 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. To buy inventory or raw materials. The company has grown from no revenue to $500,000 month in billings in the span of 6. altLINE partners with lenders nationwide to provide invoice factoring and accounts receivable financing to their small and medium-sized business customers. 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. altLINE is a direct bank lender and a division of The Southern Bank Company, a community bank originally. AltLINE offers fast invoice. If your invoice turnover time is between 30 and 90 days, your receivables are well-positioned for factoring. Click calculate. The factoring company charges a 3% factor fee for every 30 days it takes your customer to pay the invoice. Jim is the General Manager of altLINE by The Southern Bank. 75% to 3. Grey was previously the Director of Marketing for altLINE by The Southern Bank. Regardless, this is simply another way your score can be revealed. Jim is the General Manager of 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. 5%-5%. Moreover, our invoice factoring services help you focus on growing your. AltLINE prides itself on serving businesses in a number of industries, in nearly any stage of growth and with a variety of financial needs. Whatever a lender may call it, there are certain things to keep in mind when evaluating options. Record a credit in accounts receivable for the sold invoices. View all of altLINE's available lending options, and details for each. It is the alternative loan arm of The Southern Bank Company. To take on new orders / clients. Both options are similar as they provide a cash advance for business owners to increase working capital and scale their growth. With the end of lockdowns, people are going out more, and the demand and job growth in these industries are set to grow further. 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. 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. Lending Options. 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. Factor Rate: Similar to an interest rate, this determines how much the merchant cash advance will cost. Canva. altLINE Advances Up To 80-90% Of The Invoice Face Value. Launched in 2011 and headquartered in Birmingham, altLINE is committed to providing small and midsized businesses a bank-backed factoring solution that prioritizes transparency, dependability, and customer service. 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). While you can continue to send in new referrals and receive a reward for each initial referral funding, you can only. altLINE partners with lenders nationwide to provide invoice factoring and accounts receivable financing to their small and medium-sized business customers. Because altLINE is both a factoring company and an FDIC insured bank, we provide more transparency and lower rates than independent invoice factoring companies. altLINE partners with lenders nationwide to provide invoice factoring and accounts receivable financing to their small and medium-sized business customers. Invoice Factoring. 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. Asset-based lending (ABL) is the process of borrowing money that is secured by an asset, or collateral. altLINE is a direct bank lender and a division of The Southern Bank Company, a community bank originally founded in 1936. com and more. 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. Power services. altLINE — The Lowest Fees. 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. Both operate on similar principles: Your invoices will go through altLINE for the duration of. Factoring turns those invoices into cash, allowing businesses to grow. Your trusted bank partner in Invoice Factoring and Accounts Receivable Financing. Jim is the General Manager of altLINE by The Southern Bank. Download a free staffing agency invoice template for Excel or Google Sheets. Companies use the cash they receive from factoring for a variety of reasons, including: To make payroll. You get a lump sum of between 80-90% of the total invoice value in most cases. With traditional factoring, A/R financing and asset based lending, altLINE accelerates your cash flow and allows you to. Call the altLINE Factoring Hotline. factoring industry was valued at $147 billion. 5% to 2. If you think invoice factoring for your staffing company is a better solution than selling at. Get Started. You receive access to personalized jobs. Advances up to 90%. We help provide solutions to customers from a wide variety of sources. altLINE partners with lenders nationwide to provide invoice factoring and accounts receivable financing to their small and medium-sized business customers. You will receive a single, $250 Visa e-gift card the first time your referral funds with altLINE. The average interest rate on a. Unlike many factoring companies, altLINE has factoring programs specifically catering to start up businesses and was able to put a facility in place. Give altLINE A Try . Best for: Fast access to invoice factoring for businesses who need at least $15,000 per month in factoring. 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. altLINE partners with lenders nationwide to provide invoice factoring and accounts receivable financing to their small and medium-sized business customers. While working locally with small and medium-sized businesses, The Southern Bank recognized the consistent need for non-traditional commercial lines of credit. Your business submits that same invoice to a third-party invoice factoring company, such as altLINE (Day 1). NerdWallet rating Key Facts. It also offers a high advance rate and low fees, making it our pick as the best provider for businesses seeking large recurring factoring products. In business, a price quote is often referred to as just a quote. Instead of waiting on customers to pay their invoices, a janitorial factoring company can give you cash whenever needed. There are three types of invoice financing products: invoice factoring, a/r backed lines of credit, and non-traditional invoice. […]Invoice Factoring. For financial and business advisors, having a reputable secondary. altLINE offers competitive rates and can take advantage of not. Learn how to convert your unpaid invoices into working capital so you can get back to growing your business. If it takes your customer three months to pay. To recap, when you sign an agreement with a factoring company: 1. 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. Initial Filing Fee / Origination Fee: An initial filing fee (or origination fee) is charged to process the invoice factoring application. FIND OUT MORE. 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. 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. 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. To hire more employees. 50%. You can apply for invoice. When these invoices, or accounts receivable, are paid by clients, the money will go to the factor, rather than the small business itself. altLINE: Best factoring company for startups Pros and cons Why we picked it See Business Loan Options FundThrough: Best factoring company for software integration. Turn your outstanding invoices into cash Give altLINE A Try . altLINE is a direct bank lender and a division of The Southern Bank Company, a community bank originally. 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%. As a company grows and experiences an increased need for cash, they will likely seek out various forms of financing. Rated Top Factoring Company of 2023 Investopedia, TheBalanceSMB, Fundera, Business. This means you will not have to wait for 30 or 90 days to receive the money owned by online stores. Call the altLINE Factoring Hotline +1 (205) 607-0811. ZERO Hidden Fees. 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. box. Invoice factoring is a solution that turns those invoices into cash immediately. 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. Read more about all of the business banking resources provided by altLINE. Grey was previously the Director of Marketing for altLINE by The Southern Bank. With this in mind, altLINE can factor up to $4 million per month and up to 90% of an invoice amount. With the federal funds rate at its highest since 2007, credit card annual percentage rates, or APRs, are also at record highs. altLINE is a small business factoring solution provided by The Southern Bank. Trusted Bank Since 1936. DUBAI, UAE, Nov. If your typical invoice turnover time is between 30 and 90 days, your receivables are well-positioned for factoring. AltLINE - Invoice FactoringaltLINE has been wonderful to work with and I’ve always felt confident that they have my back. Trusted Bank Since 1936. 100% Transparency. 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. A/R Financing. Resources. February 7, 2017 / by Grey Idol. Factoring with altLINE gets you the working capital you need to keep growing your business. O. At altLINE, we're aware that invoice factoring may not be the best fit for every business. Staffing companies often fall victim to long invoice terms and slow-paying customers. Turn your outstanding invoices into cash Give altLINE A Try . Invoice factoring with altLINE gets you the instant cash you need so you can keep growing your business. When you factor your invoices with altLINE, you turn your receivables into immediate cash, giving you the working capital you need to pay expenses, make payroll and fuel growth. Advance rate. Description: altLINE is the invoice factoring division of The Southern Bank Company. It is up to you as a business owner to determine which invoices to sell based on the amount. Invoice Factoring. We’re Hiring! Lending Assistant in Gadsden, AL. We have factored over $1 billion in invoices for our clients and are always looking to help business owners by taking over time-consuming A/R management. 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. What makes us different? Trusted Bank Since 1936. Non-Recourse Factoring Explained. The exact timing of your cash advance deposit usually depends on your customer’s receipt and acknowledgment of goods. 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. Since altLINE sources its funds directly from its parent bank, rather than a 3rd party lender or source of funding like many factoring companies, factoring funds are sourced directly from altLINE to you. To use altLINE’s merchant cash advance calculator, input the following values and then click the “Calculate” button: Merchant Cash Advance Amount: This is the advance amount you expect to receive from an MCA lender. Jim is the General Manager of altLINE by The Southern Bank. 5. 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. In 2020, truck drivers earned an average of 57 cents per. Summary of the best factoring companies of 2023. With business growth comes the need for invoice factoring. altLINE is a direct bank lender and a division of The Southern Bank Company, a community bank originally. Sample fees include: 1% per 10 days (3% per month) 0. 4%. Invoice Factoring. The exact timing of your cash advance depends on the customer’s receipts and acknowledgment of goods. Standard factoring agreements involve a factoring company like altLINE simply purchasing your accounts receivable. Unlike other factoring companies in Beaumont, we don’t charge. It also reaches a maximum of 3%, which is lower than the standard maximum of 5% for the first 30 days. Jim is the General Manager of altLINE by The Southern Bank.