Debt factoring is based on selling accounts receivables to a third-party debt factoring company. 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. Call the altLINE Factoring Hotline. Grey was previously the Director of Marketing for altLINE by The Southern Bank. 75%). Rates are usually listed as CPM (or cents per mile). Advances up to 90%. However, before you take the plunge there are some pros and cons you should be aware of. Result: The factoring line that was put in place has given the founders to take on growth at a rapid, yet healthy pace. What makes us different? Rates from 0. Give altLINE a Call. When I was unable to make payroll and could not get a bank loan, I started looking for an invoice factoring partner. We help provide solutions to customers from a wide variety of sources. altLINE is a direct bank lender and a division of The Southern Bank Company, a community bank originally. 1-star 0% Filter Sort: Most relevant WM Wellman's Medical Staffing 1 review US Jul 13, 2023 Verified Highly recommend! We're a new start up company we have. In this transaction, the factor provides the business with immediate cash by paying them a percentage of the value of the invoices. 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. 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. 3 Factor Your Invoices. 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. However, AltLINE also works with manufacturing businesses, distributors, and government contractors. altLINE is a direct bank lender and a division of The Southern Bank Company, a community bank originally. Log In to FactorSoft. altLINE Advances Up To 80-90% Of The Invoice Face Value. Moving forward, this is the factoring platform customers should use to manage their accounts and will act as the new client portal. Learn how to convert your unpaid invoices into working capital so you can get back to growing your business. Instead, many Virginia Beach business owners turn to invoice factoring as an effective and accessible alternative financing solution that boosts working capital. altLINE deals in invoice factoring and accounts receivable factoring. Factoring companies are strategic business partners who have experience working with small and medium-sized businesses. 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. If you’re looking to improve your cash flow, give altLINE a call at +1 (205) 607-0811 or fill out our online factoring quote form. The invoice is for $50,000 of work. Result: The factoring line that was put in place has given the founders to take on growth at a rapid, yet healthy pace. 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 founded in 1936. The Bureau of Labor Statistics notes that entertainment employment is expected to increase by 13% from 2021 to 2031 —a rate faster than the growth rates of other jobs. altLINE partners with lenders nationwide to provide invoice factoring and accounts receivable financing to their small and medium-sized business customers. 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 prides itself on serving businesses in a number of industries, in nearly any stage of growth and with a variety of financial needs. altLINE is a direct bank lender and a division of The Southern Bank Company, a community bank originally. Fast Approval. Invoice factoring with altLINE gets you the instant cash you need so you can keep growing your business. 100% Transparency. Factoring with altLINE gets you the working capital you need to keep growing your business. When selling your receivables, a factoring company like altLINE won’t require collateral. altLINE is a direct bank lender and a division of The Southern Bank Company, a community bank originally founded in 1936. 100% Transparency. The exact timing of your cash advance deposit generally depends on when your customer receives the goods or services you sell. The ever-evolving modern business landscape is filled with apps focused on boosting efficiency for businesses. 50%. 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%. 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. 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. It is the alternative loan arm of The Southern Bank Company. Because altLINE is both a factoring company and an FDIC insured bank, we provide more transparency and lower rates than independent invoice factoring companies. Get a Quote. Trusted Bank Since 1936. Full recourse factoring places all of the business’s liability that has engaged a factor for invoice factoring. altLINE works mostly with clients who can commit to factoring a large amount of receivables regularly. 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. 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. To recap, when you sign an agreement with a factoring company: 1. Jim is the General Manager of altLINE by The Southern Bank. 75% to 3. Unfortunately, no. AltLINE is a wonderful non-recourse invoice factoring supplier for small company owners looking for a solution with quick payback terms. 5% per month) 2% per 45 days, 0. The application process for altline factoring: altline doesn’t charge an application fee, for joining its factoring program. 2 and 1. Record a credit in accounts receivable for the sold invoices. Jim is the General Manager of altLINE by The Southern Bank. 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. Angela loves creating content that helps readers better understand their financing options and helps them make informed decisions about factoring. 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. Call us at +1 (205) 607-0811. Angela loves creating content that helps readers better understand their financing options and helps them make informed decisions about factoring. Invoice factoring is a great tool for improving cash flow for your business. Get a Quote. Accountants and Advisors Rely on altLINE. altLINE has been in the factoring industry for more than 80 years. 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. Turn your outstanding invoices into cash Give altLINE A Try . Importantly, lending in 2022 was still about 14% above 2020, showing that at least some of the growth continued. Stay up-to-date with Factoring Services Market research offered by AMA Research. Jim is the General Manager of altLINE by The Southern Bank. Lending Options. The bank has factored over $800 million in invoices over more than 80 years. If you think invoice factoring for your staffing company is a better solution than selling at. Our team also has more than 80 years of experience serving customers, and we have an A+ rating by the Better Business Bureau. 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. Therefore, the factoring transactions require several entries. Aladdin Capital — Best for Small Business. Jim is the General Manager of altLINE by The Southern Bank. Consistent tracking of changes in working capital can be key to understanding the trend of your business’s financial health. Staffing companies often fall victim to long invoice terms and slow-paying customers. Once Tom’s Trucking submits its $75,000 invoice for factoring, altLINE advances the company 95% of the invoice value ($71,250). Get Started. altLINE is a direct bank lender and a division of The Southern Bank Company, a community bank originally founded in 1936. In the rare instance your customer never. ZERO Hidden Fees. Both operate on similar principles: Your invoices will go through altLINE for the duration of. At altLINE, we're aware that invoice factoring may not be the best fit for every business. 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. Advances up to 90%. You will receive a single, $250 Visa e-gift card the first time your referral funds with altLINE. Record the factoring fee and the estimated bad debts as a debit loss. Show More. 5 to 3. 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. Invoice factoring fees are typically 1-5% of the total invoice value, which is usually a bit more expensive than other forms of financing. Call the altLINE Factoring Hotline +1 (205) 607-0811. Factoring is not a. As it grows, businesses turn to invoice factoring to help maintain working capital. To take on new orders / clients. The Southern Bank has been around for over 80 years so you know you’re in good hands. You then have to repay the company the full amount, plus interest. Resources. On average, however, they fund customers about $500,000 per month. 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. 5% – 4. Like FundThrough, altLIne is fast—with funding in as few as 48 hours. Jim is the General Manager of altLINE by The Southern Bank. Trusted Bank Since 1936. altLINE is a part of The Southern Bank Company. Their understanding of my industry has facilitated a seamless and efficient funding process. Call us at +1 (205) 607-0811. 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 partners with lenders nationwide to provide invoice factoring and accounts receivable financing to their small and medium-sized business customers. With traditional factoring, A/R financing and asset based. The business sends an invoice for $75,000 to one of its clients after completing a route. altLINE partners with lenders nationwide to provide invoice factoring and accounts receivable financing to their small and medium-sized business customers. 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. #5. Invoice Factoring. 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. altLINE Advances 80-90% Of The Invoice Face Value. Grey was previously the Director of Marketing for altLINE by The Southern Bank. Know your notification date and set up a calendar reminder to review the agreement each year. See how bankers, brokers, and financial advisors can partner with altLINE as a part of our referral program. Jim is the General Manager of altLINE by The Southern Bank. Small businesses will benefit from the top factoring providers we examined. 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 your cash advance depends on the customer’s receipts and acknowledgment of goods. It offers businesses the flexibility of an independent financing company with the cost savings of a bank. In under six months, D&A received a factoring credit line increase, enabling the business to access up to $500,000 in working capital. Note: These are average rates. 50%. To pay rent. When you buy through links on our site, we may earn an affiliate commission. Jim is the General Manager of altLINE by The Southern Bank. 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. At altLINE, we provide invoice factoring to businesses across a variety of industries. The factoring company sends your business a cash advance, typically 80-90% of the invoice value (Day 2). With traditional factoring, A/R financing and asset based lending, altLINE accelerates your cash flow and allows you to. AltLINE offers fast invoice. 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. 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. 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. Rated Top Factoring Company of 2023 Investopedia, TheBalanceSMB, Fundera, Business. Learn how to convert your unpaid invoices into working capital so you can get back to growing your business. altLINE Advances Up To 80-90% Of The Invoice Face Value. Back. altLINE is a direct bank lender and a division of The Southern Bank Company, a community bank originally. Companies use the cash they receive from factoring for a variety of reasons, including: To make payroll. Some companies use invoice factoring for revenue stability. Dealing With Slow-Paying Customers? altLINE Can Help. 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. To hire more employees. altLINE would be the greatest answer for a small company with a high-quality and quick-paying. For Bankers For Financial Advisors . Whether you're a banker, a broker or an advisor, altLINE has a program for you. 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. 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). A bank lockbox payment is a payment processing service in the form of a P. Another significant difference is the level of commitment required by the factoring company. The capital of North Carolina, Raleigh is a cultural and economic center of the state. altLINE partners with lenders nationwide to provide invoice factoring and accounts receivable financing to their small and medium-sized business customers. When utilized correctly, the. When these invoices, or accounts receivable, are paid by clients, the money will go to the factor, rather than the small business itself. A bank lockbox payment is a payment processing service in the form of a P. 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. Six Ways to Get Loads for Trucks. altLINE has been in the factoring industry for more than 80 years. Financing Cash Flow. altLINE partners with lenders nationwide to provide invoice factoring and accounts receivable financing to their small and medium-sized business customers. 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. Unpaid invoices hinder the day-to-day operations of small businesses that need capital to improve cash flow as only about 6% of invoices are paid within 30 days. Although, you may pay an origination fee that typically runs from. Zero Hidden Fees. Back. My experience with altLINE's invoice factoring service has been exemplary. While factoring accounts receivable can be a more expensive form of financing – factoring fees can range between 1% and 3% per month, you can control your costs by submitting invoices only when the need for cash arises. S. altLINE is a direct bank lender and a division of The Southern Bank Company, a community bank originally. Fast Approval. 100% Transparency. Invoice factoring is a great alternative finance solution that works great in these industries. If it takes your customer three months to pay. Jim is the General Manager of altLINE by The Southern Bank. You can generally expect a factoring advance rate of 90-95% of the invoice’s face value and receive the cash advance between 24 and 48 hours after submission. Back. Invoice Factoring. Jim is the General Manager of altLINE by The Southern Bank. You can apply for invoice factoring from altLINE online—qualified businesses can receive funding in as little as 48 hours. The industry makes $5 to $10 billion in capital each year. At altLINE, we're aware that invoice factoring may not be the best fit for every business. 5%. Trusted Bank Since 1936. At altLINE, we purposefully differentiate between the two with distinct structures. 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. 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. Full recourse factoring places all of the business’s liability that has engaged a factor for invoice factoring. #7. Invoice factoring is the process of selling outstanding invoices to a third-party company (factoring company). It also reaches a maximum of 3%, which is lower than the standard maximum of 5% for the first 30 days. Why We Chose It. box. The company has grown from no revenue to $500,000 month in billings in the. Even if you’re a telecom business owner or contractor who serves a different industry than listed above, a factor like altLINE may still be open to working with you. As a bank, AltLINE provides direct funding, eliminating the need for intermediaries and reducing borrowing costs. It’s the ideal choice for businesses with a large volume of invoices to sell. altLINE Advances 80-90% Of The Invoice Face Value. This information can help you make the right decision for your business. To compare business strategies for surviving the recent COVID-19 crisis and a typical recession, altLINE analyzed research from the World Bank, data from the Federal Reserve, and news reports. Invoice factoring with altLINE gets you the instant cash you need so you can keep growing your business. Get Your Free Factoring Quote. altLINE Factoring. 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. 5. 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. User-friendly online management: altLINE’s user-friendly online platform streamlines the factoring process, providing convenient access and management capabilities for business owners. 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. For Staffing Companies. altLINE advances up to 90% of an invoice — a normal range for invoice factoring providers serving companies with higher monthly revenue. Debt factoring is based on selling accounts receivables to a third-party debt factoring. Grey was previously the Director of Marketing for altLINE by The Southern Bank. Companies over 2 years old saw just 3% growth in that time. 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 small business factoring solution provided by The Southern Bank. 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. 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. Not as suitable for startups or newer businesses. For Brokers . Both operate on similar principles: Your invoices will go through altLINE for the duration of your contract. January 6, 2023 / by Deborah Sabinus. Grey was previously the Director of Marketing for altLINE by The Southern Bank. Here are 9 unsecured business loans. 1. altLINE Advances Up To 80-90% Of The Invoice Face Value. Once Tom’s Trucking submits. A bank factoring company is exactly what it sounds like, a federally regulated bank that factors invoices for clients. altLINE Advances Up To 80-90% Of The Invoice Face Value. BlueVine requires businesses to have a minimum 3-month history, at least $10,000 monthly. The company has grown from no revenue to $500,000 month in billings in the span of 6. Grey was previously the Director of Marketing for altLINE by The Southern Bank. altLINE is a direct bank lender and a division of The Southern Bank Company, a community bank originally founded in 1936. Unlike most competitors, altLINE offers a factoring fee starting at 0. Click the link below to find out more and apply via LinkedIn. The difference between recourse and non-recourse. 2. Business Credit Card (s) – Share of companies using this funding source: 7. Entrepreneurship is booming and the concentration of top. Industry. Spot factoring differs from traditional invoice factoring because it is primarily used to factor a single large invoice, rather than a set of invoices. The exact timing of our deposit may vary depending on when you complete the job. Here is the list of factoring companies with a specialty in invoicing: Breakout Capital; Triumph Business Capital; Nav (Business financing options/Invoice financing) eCapital; altLINE (altline. 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. Pros & Cons. Factoring with altLINE gets you the working capital you need to keep growing your business. Backed by The Southern Bank Company, altLINE has provided more than $1 billion in funded invoices since 1936. If your invoice turnover time is between 30 and 90 days, your receivables are well-positioned for factoring. altLINE is a factoring company operating under the Southern Bank Company’s umbrella, providing direct access to funding without intermediaries. Back. Turn your outstanding invoices into cash Give altLINE A Try . 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. What makes us different? Rates from 0. It’s important to explore and weigh your options, so if you’re a business owner with questions about the factoring process, feel free to give altLINE a call at. The average interest rate on a. 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. $10,000,000: 300: View Details. First, a factoring company such as altLINE will fund a cash advance of 80-90% of the outstanding invoice. Factors then make money from outstanding invoice. Call the altLINE Factoring Hotline. 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. Advances up to 90%. While working locally with small and medium-sized businesses, The Southern Bank recognized the consistent need for non-traditional commercial lines of credit. Our team moves quickly so that you can get the cash you need to keep growing your business. The bank has factored over $800 million in invoices over more than 80 years. altLINE partners with lenders nationwide to provide invoice factoring and accounts receivable financing to their small and medium-sized business customers. 5, you’ll end up paying back $150,000. Online load boards make finding loads for trucks accessible for every trucking company. altLINE — Best for Flexibility. altLINE offers competitive rates and can take advantage of not. In this case, additional capital helps to ‘solve the cash flow crunch’ or ‘bridge the gap. Jim is the General Manager of altLINE by The Southern Bank. Advances up to 90%. 5%. However, we're confident that for a large group of small to medium-sized businesses, factoring invoices. Instead of waiting on customers to pay their invoices, a janitorial factoring company can give you cash whenever needed. This lender requires that you are able to factor at least $15,000 per month. altLINE – Best for low fees. 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. RTS Financial — Best for Industry-specific Services. 50%. altLINE partners with lenders nationwide to provide invoice factoring and accounts receivable financing to their small and medium-sized business customers. Within its booming manufacturing ecosystem, many businesses turn to alternative financing options like invoice factoring in order to boost working capital when traditional bank loans aren’t available. The exact timing of your cash deposit generally depends on your customer’s receipt and acknowledgment of. If you’re a B2B business, you’re all too familiar with complex cash flow challenges, especially if you. I found that altLINE had better reviews, was more responsive and more up front than the other providers I spoke with. February 7, 2017 / by Grey Idol. 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. Description: altLINE is the invoice factoring division of The Southern Bank Company. altLINE — The Lowest Fees. 300. Call the altLINE Factoring Hotline +1 (205) 607-0811. It is up to you as a business owner to determine which invoices to sell based on the amount. Invoice Factoring altLINE Advances Up To 80-90% Of The Invoice Face Value. Calculate your startup capital. However, we're confident that for a large group of small to medium-sized businesses, factoring invoices. Fast Approval. Get Started. At altLINE, we have 84 years of experience helping small business owners manage and improve their A/R cash flow through invoice factoring. Aladdin Capital — Best for Small Business. altLINE is a direct bank lender and a division of The Southern Bank Company, a community bank originally. Trucking and transportation is one of the industries AltLine services. altLINE offers competitive rates and can take advantage of not. altLINE offers competitive rates and can take advantage of not. com and more. 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. AltLINE is the commercial financing division of The Southern Bank, which has been in operation for over 84 years. 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 the invoice factoring side of The Southern Bank Company, a community bank based in Alabama. altLINE reviews the relevant. With the end of lockdowns, people are going out more, and the demand and job growth in these industries are set to grow further. Jim is the General Manager of altLINE by The Southern Bank. Fast Approval. altLINE by Sobanco. altLINE will then advance you between 80%-90% of the receipt, giving itself a discount rate of between 0. Turn your outstanding invoices into cash Give altLINE A Try . Businesses with larger transaction volumes and larger borrowing needs require custom. Kansas City is the largest city in the state of Missouri. Debt factoring, perhaps more commonly known as invoice factoring,. Market Cap: 4. 3% processing fee, plus factor fee (~1%) each week until invoice is paid:. Business owners always seek out ways to leverage their assets. In finance, the term “float” can mean a lot of things. However, other agreements involve a factoring company merely advancing funds to another company. Financing cash inflows and outflows are typically driven by debt and equity financing. However, invoice discounting is distinct because it’s. They provide a source for both parties – the debtor and the factor – to transfer and […]Jim is the General Manager of altLINE by The Southern Bank. 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. Grey was previously the Director of Marketing for altLINE by The Southern Bank. 5% to 2. altLINE Advances Up To 80-90% Of The Invoice Face Value. Once you submit your quote request, a representative will be in touch with you immediately. 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. 957 M Minimum Rate Percentage: 0. Get Started. Your business provides a service to a customer, then sends an invoice to that customer (Day 1). Factors then make money from outstanding. Some businesses charge customers for providing a quote, while others offer free quotes. Resources. Get Started. altLINE is a direct bank lender and a division of The Southern Bank Company, a community bank originally founded in 1936. See how bankers, brokers, and financial advisors can partner with altLINE as a part of our referral program.