Jim is the General Manager of altLINE by The Southern Bank. com and more. 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. 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. The first step of manufacturer factoring is submitting an invoice to the factor once you’ve sent them to your customer. Lower Rates. 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). According to the Transportation Statistics Annual Report, trucks transport 73% of total freight value and 67% of total freight weight. The ultimate goal of non-notification factoring is the same as that of traditional invoice factoring – to increase working capital. Breakout Capital – Most flexible invoice factoring company. I found that altLINE had better reviews, was more responsive and more up front than the other providers I spoke with. altLINE is a direct bank lender and a division of The Southern Bank Company, a community bank originally. #7. 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). 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. Invoice factoring with altLINE gets you the instant cash you need so you can keep growing your business. Rates may differ for individual businesses based on credit history, industry or other factors. Remember a shorter term is best, don’t sign multi-year agreements. 50%. altLINE partners with lenders nationwide to provide invoice factoring and accounts receivable financing to their small and medium-sized business customers. 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. Bank of. For example, an invoice factoring company such as altLINE will run a background check on your business, which includes looking into your creditworthiness. A/R Financing. 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. 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. We offer customized invoice factoring services for your location – including the states and cities below. If you think invoice factoring might improve your working capital, call one of our representatives at +1 (205) 607-0811 or fill out our factoring quote form . The ever-evolving modern business landscape is filled with apps focused on boosting efficiency for businesses. This is the early payment discount portion of the term, “1/10 net 30”. Invoice Factoring. Once you submit your quote request, a representative will be in touch with you immediately. altLINE is a top-rated factoring company that doubles as a bank, so you can receive lower rates and greater transparency during the factoring process. Referral Program for Factoring Brokers. Prefer to do factoring through a bank? altLINE by The Southern Bank is our top pick if you want to cut out the middleman. We also soften the financial blow of late customer payments by improving your cash flow. 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. In the rare instance your customer never. Trusted Bank Since 1936. Lending Options. 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. Max loan. Educational services. Non-Recourse Factoring Explained. You can generally expect a factoring advance rate of up to 90% of the invoice’s face value and receive the cash advance between 24 and 48 hours after submission to our government contract factoring company. box. You can generally expect a factoring rate of 80%-90% of each invoice’s face value and receive the cash advance between 24 and 48 hours of submission to altLINE. September 28, 2023 / by Jim Pendergast. 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 altLINE, factoring fees are typically 1% – 3% of the invoice face value, if paid within 45 days. 2. 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. Advances up to 90%. 10. 5%. Fast Approval. Jim is the General Manager of altLINE by The Southern Bank. See how bankers, brokers, and financial advisors can partner with altLINE as a part of our referral program. 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. The truck’s odometer is read at the start and end of the trip, and the driver is paid based on the total mileage. Effectively planning and strategizing is of utmost importance for any entrepreneur or small business owner; this is no different for trucking owner-operators. Invoice factoring is a fast, effective and affordable alternative to traditional financing that does not impact a business’s credit. Record the factoring fee and the estimated bad debts as a debit loss. The factor rate is typically between 1. Do know, however, that UCC filings are commonly seen as an integral part of any form of lending. a direct financing source; 90% of eligible invoices are delivered; Completely transparent; altLINE is a dependable and trustworthy invoice factoring business known for its minimal prices. This lag in time may equate to as long as 30-60 days and causes cash flow problems for many businesses, particularly staffing companies. 5%-5%. 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. 6 Reduce Inventory. Their understanding of my industry has facilitated a seamless and efficient funding process. With this in mind, altLINE can factor up to $4 million per month and up to 90% of an invoice amount. Business Credit Card (s) – Share of companies using this funding source: 7. We help provide solutions to customers from a wide variety of sources. 100% Transparency. Invoice factoring with altLINE gets you the instant cash you need so you can keep growing your business. altLINE is a direct bank lender and a division of The Southern Bank Company, a community bank originally. altLINE Advances Up To 80-90% Of The Invoice Face Value. 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. Call us at +1 (205) 607-0811. altLINE partners with lenders nationwide to provide invoice factoring and accounts receivable financing to their small and medium-sized business customers. Staffing companies often fall victim to long invoice terms and slow-paying customers. Turn your outstanding invoices into cash Give altLINE A Try . At altLINE, we provide invoice factoring to businesses across a variety of industries. altLINE is a direct bank lender and a division of The Southern Bank Company, a community bank originally. 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. 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 wonderful non-recourse invoice factoring supplier for small company owners looking for a solution with quick payback terms. Our team moves quickly so that you can get the cash you need to keep growing your business. Advances up to 90%. The demand for factoring companies continues to increase as businesses look for additional. Get Started. At altLINE, we're aware that invoice factoring may not be the best fit for every business. 5% – 4. Triumph — Best for Same-day Funding. However, before you take the plunge there are some pros and cons you should be aware of. Invoice Factoring. altLINE is a direct bank lender and a division of The Southern Bank Company, a community bank originally. 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. 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 allows you to factor what to really want to factor, you can factor high-value invoices. Jim is the General Manager of altLINE by The Southern Bank. 5%. SMB Compass — Best invoice financing up to $10 million. These unpaid invoices do not only affect the businesses in question but also impact the economy, making up 5% of America’s GDP and totaling $825 billion. 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 has been in the factoring industry for. Once Tom’s Trucking submits its $75,000 invoice for factoring, altLINE advances the company 95% of the invoice value ($71,250). 100% Transparency. Grey was previously the Director of Marketing for altLINE by The Southern Bank. Angela loves creating content that helps readers better understand their financing options and helps them make informed decisions about factoring. altLINE Advances 80-90% Of The Invoice Face Value. With more than 85 years of experience serving customers, we provide you with the best client services, assigning you a dedicated account manager. 5 Charge a Late Payment Fee. To buy inventory or raw materials. Lending Options. altLINE has made invoicing your clients that much easier. Trusted Bank Since 1936. Result: The factoring line that was put in place has given the founders to take on growth at a rapid, yet healthy pace. When utilized correctly, the. 3 Factor Your Invoices. Learn how to apply, what. Invoice Factoring. 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. Jim is the General Manager of altLINE by The Southern Bank. Here is a short guide to applying for our. Invoice factoring, or A/R financing, with altLINE gets you the instant cash you need so you can keep growing your business. Debt factoring is based on selling accounts receivables to a third-party debt factoring company. What Is Construction Factoring & How Does It Work? | altLINE Get Your Invoices Paid Faster With Construction Factoring Contents hide 1 What Is Construction Factoring? 2 Benefits Of Invoice. AltLINE is a commercial financing division of The Southern Bank that offers invoice factoring services to businesses across the country. Zero Hidden Fees. You then have to repay the company the full amount, plus interest. AltLine is an invoice factoring company that offers invoice factoring, accounts receivable financing, and asset-based lending options. altLINE Advances Up To 80-90% Of The Invoice Face Value. Here is a quick comparison of 5 best factoring companies. Rated Top Factoring Company of 2023 Investopedia, TheBalanceSMB, Fundera, Business. Instead of waiting on customers to pay their invoices, a janitorial factoring company can give you cash whenever needed. Jim is the General Manager of altLINE by The Southern Bank. Payroll funding is a type of invoice factoring specific to the staffing industry. As a company grows and experiences an increased need for cash, they will likely seek out various forms of financing. Factoring with altLINE gets you the working capital you need to keep growing your business. altLINE has been in the factoring industry for more than 80 years. What makes us different? Rates from 0. Jim is the General Manager of altLINE by The Southern Bank. 957 M. Our team also has more than 80 years of experience serving customers, and we have an A+ rating by the Better Business Bureau. 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. Why factor with altLINE in South Carolina? Accounts Receivable Financing, or Factoring, is a quick, effective means of infusing your business with cash. For Staffing CompaniesaltLINE Advances Up To 80-90% Of The Invoice Face Value. A factoring contract is an agreement where a small business sells outstanding invoices to third parties — known as factors — in exchange for upfront cash. 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. 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. I found that altLINE had better reviews, was more responsive and more up front than the other providers I spoke with. Putting it in simpler terms, when payment is made by check or ACH, the transfer of money from bank. Customer B has their account factored by 80%. altLINE partners with lenders nationwide to provide invoice factoring and accounts receivable financing to their small and medium-sized business customers. Basically, their range is below the average for factoring companies. 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. Call us at +1 (205) 607-0811. Jim is the General Manager of altLINE by The Southern Bank. Fast Approval. Factoring with altLINE gets you the working capital you need to keep growing your business. The exact timing of your cash deposit generally depends on your customer’s receipt and acknowledgment of goods. 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. FactorSoft is the new invoice factoring platform that altLINE upgraded to on 10/31/22. Specialty lenders often use the terms Accounts Receivable Financing and Factoring interchangeably. 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. 3% processing fee, plus factor fee (~1%) each week until invoice is paid:. Factoring with altLINE gets you the working capital you need to keep growing your business. The factoring reserve is the money that is withheld from the cash advance sent by a factoring company to a business during the invoice factoring process. The SMB Guide is reader-supported. The exact timing of your cash advance deposit usually depends on the date of your client’s receipt and job completion. 100% Transparency. Trucking and transportation is one of the industries AltLine services. 5% to 3% and up to 90% payment initially, invoice factoring through AltLINE could easily be one of the lowest interest rate loans available to your business. When I was unable to make payroll and could not get a bank loan, I started looking for an invoice factoring partner. 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. No need to stress over sacrificing and potentially losing valuable assets. Aside from factoring, altLINE also offers some of the best financial solutions for your business such as accounts receivable financing and asset-based lending. Invoice Factoring. altLINE partners with lenders nationwide to provide invoice factoring and accounts receivable financing to their small and medium-sized business customers. 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. The exact timing of your cash advance deposit usually depends on when you complete the treatment in question. Learn more about invoice factoring, alternative financing and other small business finance topics. 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. Flexibility: If you want to choose which invoices to use for financing purposes, factoring may be the option for you. These fees can range greatly from 0% to 3% of the credit line amount. Factoring by Industry. Input the factoring rate (sometimes referred to as the interest rate). The exact timing of our cash advance deposit may vary depending on when your customer receives your goods or services. 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. Calculate your startup capital. This type of financing used by staffing companies is known as payroll funding or payroll financing. Birmingham is an industrial city on the rise. Nebraska and North Dakota are other states where small businesses fail at high rates. Lending Options. You will receive a single, $250 Visa e-gift card the first time your referral funds with altLINE. With invoice factoring, businesses sell unpaid invoices to a factoring company, like altLINE, in exchange for a cash advance. In business, a price quote is often referred to as just a quote. 1. With traditional factoring, A/R financing and asset based. 5, you’ll end up paying back $150,000. Unfortunately, no. The company has grown from no revenue to $500,000 month in billings in the. 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. com and more. The quote request is a simple, straightforward, easy process that can be completed in a few minutes. To hire more employees. What makes us different? Rates from 0. Industry. The Washington Policy Center, a think tank focused on the free market, blames state policies, from local taxes to rules and mandates. Pros:Jim is the General Manager of altLINE by The Southern Bank. A factoring contract is an agreement where a small business sells outstanding invoices to third parties — known as factors — in exchange for upfront cash. altLINE partners with lenders nationwide to provide invoice factoring and accounts receivable financing to their small and medium-sized business customers. Backed by The Southern Bank Company, altLINE has provided more than $1 billion in funded invoices since 1936. altLINE offers up to $5 million, and they don’t consider credit scores when deciding whether to work with you or. altLINE partners with lenders nationwide to provide invoice factoring and accounts receivable financing to their small and medium-sized business customers. When you factor with altLINE, we fund up to 90% of your invoices now, offering you a critical boost in cash flow that helps you stay on top of your expenses, no matter where your outstanding receivables stand. The company has grown from no revenue to $500,000 month in billings in the. AltLINE offers fast invoice. Invoice factoring is the process of selling outstanding invoices to a third-party company (factoring company). This rate is typically 0. altLINE Advances Up To 80-90% Of The Invoice Face Value. Kansas City is the largest city in the state of Missouri. altLINE Factoring. There are three types of invoice financing products: invoice factoring, a/r backed lines of credit, and non-traditional invoice. 4 likes. Grey was previously the Director of Marketing for altLINE by The Southern Bank. 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. You can determine what your factoring rate will look like by requesting a free quote and details on its website. The discount serves as the service charge for the entity taking on the owed invoices. altLINE partners with lenders nationwide to provide invoice factoring and accounts receivable financing to their small and medium-sized business customers. Resources. Back. 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. The payor is the drawer of a check. 5% – 4. 100% Transparency. Grey was previously the Director of Marketing for altLINE by The Southern Bank. When it comes to non-traditional financing solutions, invoice financing and factoring are common alternatives to transforming your accounts receivables for quick funding. Jim is the General Manager of altLINE by The Southern Bank. AltLINE is the commercial financing division of The Southern Bank, which has been in operation for over 84 years. Invoice Factoring. It is the alternative loan arm of The Southern Bank Company. B2B factoring, also known as business-to-business factoring, is a financial transaction in which a business sells its accounts receivables, or unpaid invoices, to a third-party company, known as a factoring company. If you don’t qualify for altLINE’s invoice. Asset-based lending (ABL) is the process of borrowing money that is secured by an asset, or collateral. However, we're confident that for a large group of small to medium-sized businesses, factoring invoices. It offers the same services as independent factoring companies while. 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. We help answer questions about companies, rates, structure & more. com and more. Grey was previously the Director of Marketing for altLINE by The Southern Bank. Our team moves quickly so that you can get the cash you need to keep growing your business. altLINE is a direct bank lender and a division of The Southern Bank Company, a community bank originally. altLINE partners with lenders nationwide to provide invoice factoring and accounts receivable financing to their small and medium-sized business customers. 24, 2023 /PRNewswire/ -- As per a recent report released by Kings Research, the global Factoring Services Market is anticipated to grow from USD. BlueVine (United States), altLINE (United States), Triumph Business Capital (United States), RTS Financial (United States), eCapital Corp. 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. altLINE Advances Up To 80-90% Of The Invoice Face Value. 9 Negotiate Better Payment Terms. What makes us different? Trusted Bank Since 1936. altLINE will factor up to $4 million in monthly. altLINE by Sobanco. 5%. 2 and 1. Jim is the General Manager of altLINE by The Southern Bank. The company has grown from no revenue to $500,000 month in billings in the. These higher fees can lead to a lower profit margin for businesses. Unlike most competitors, altLINE offers a factoring fee starting at 0. 50% with incredibly fast approvals. 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. At altLINE, we charge $30 per wire transfer. Just like invoice factoring, payroll funding turns a business’s outstanding invoices into cash by selling them to a third party. Why We Chose It. The invoice is for $50,000 of work. Invoice Factoring altLINE Advances Up To 80-90% Of The Invoice Face Value. altLINE would be the greatest answer for a small company with a high-quality and quick-paying. Get Started. altLINE partners with lenders nationwide to provide invoice factoring and accounts receivable financing to their small and medium-sized business customers. If your customer pays within the first month, the factoring company will charge you 2% of the value, or $1,000. What makes us different? Trusted Bank Since 1936. Zero Hidden Fees. 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. User-friendly online management: altLINE’s user-friendly online platform streamlines the factoring process, providing convenient access and management capabilities for business owners. Input the factoring rate (sometimes referred to as the interest rate). Total 2021 capital expenditures industrywide: $8. Invoice factoring with altLINE gets you the instant cash you need so you can keep growing your business. […]Invoice Factoring. While working locally with small and medium-sized businesses, The Southern Bank recognized the consistent need for non-traditional commercial lines of credit. Financing cash inflows and outflows are typically driven by debt and equity financing. altLINE is a direct bank lender and a division of The Southern Bank Company, a community bank originally founded in 1936. Asset-based loans or lines of credit can be borrowed against equipment, property, inventory or receivables (in the form of an invoice factoring service ). See how bankers, brokers, and financial advisors can partner with altLINE as a part of our referral program. Asset-based lending (ABL) is the process of borrowing money that is secured by an asset, or collateral. 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. At altLINE, we encourage small to medium-sized businesses to look into invoice factoring, as typically these are the businesses that would benefit most from quick cash flow boosts. 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. Whether you're a banker, a broker or an advisor, altLINE has a program for you. altLINE offers competitive rates and can take advantage of not. 1 10 Ways to Improve Cash Flow. Factors then make money from outstanding invoice. The company offers factoring services to a variety of industries aside from truck companies, making it the best option for virtually any small business. 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. Non-Recourse Factoring Explained. altLINE Advances Up To 80-90% Of The Invoice Face Value. To recap, when you sign an agreement with a factoring company: 1. Jim is the General Manager of altLINE by The Southern Bank. 5% per month) 2% per 45 days, 0. Call the altLINE Factoring Hotline +1 (205) 607-0811. altLINE, which The Southern Bank Company offers a customer financing platform that is founded on accounts receivable. Summary of the best factoring companies of 2023. The Southern Bank Company, a full-service bank based out of Gadsden, AL is pleased to announce that 2017 will be its 80th anniversary. Spot factoring differs from traditional invoice factoring because it is primarily used to factor a single large invoice, rather than a set of invoices. Min. 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. 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. 3. Experience the flexibility of an independent factoring company, but with the affordability and stability of an FDIC insured bank. In this transaction, the factor provides the business with immediate cash by paying them a percentage of the value of the invoices. They offer easy approval, low rates, transparency, and are FDIC-insured. Factoring with altLINE gets you the working capital you need to keep growing your business. Apex Capital Corp: 24/7 factoring, no required minimum volume, and no long-term contract requirements. Resourcing: If you have a smaller business and limited resources. Result: The factoring line that was put in place has given the founders to take on growth at a rapid, yet healthy pace. Their fees start as low as 0. It’s the ideal choice for businesses with a large volume of invoices to sell. The factor. Invoice factoring fees are typically 1-5% of the total invoice value, which is usually a bit more expensive than other forms of financing. Pay per mile is perhaps the most well-known and straightforward method of payment for truck drivers. Rates from 0. Unlike many factoring companies, altLINE has factoring programs specifically catering to start up businesses and was able to put a facility in place. If you expect to factor at least $15,000 monthly, altLINE could be a good fit for you. Learn how to convert your unpaid invoices into working capital so you can get back to growing your business. When I was unable to make payroll and could not get a bank loan, I started looking for an invoice factoring partner. Jim is the General Manager of altLINE by The Southern Bank. Zero Hidden Fees. The exact timing of our deposit may vary depending on when you complete the job. Record a credit in recourse liability after estimating the bad debts and potential loss. As a bank, AltLINE provides direct funding, eliminating the need for intermediaries and reducing borrowing costs. TBS — Best for Low Fees. altLINE is a factoring company operating under the Southern Bank Company’s umbrella, providing direct access to funding without intermediaries. It tops our list of invoice factoring companies because you can factor high volumes of invoices and receive an advance rate of up to 90%. Record the cash received as a debit in the cash account. altLINE Best for Bank Factoring. altLINE is a direct bank lender and a division of The Southern Bank Company, a community bank originally. 5 to 3. Minimum Rate Percentage: 0. Typically, invoice automation software has capabilities that include sending, receiving, reviewing, matching, and approving invoices. altLINE is a direct bank lender and a division of The Southern Bank Company, a community bank originally. The business sends an invoice for $75,000 to one of its clients after completing a route. Unlike most factoring companies, it is backed by an established, reputable bank. Unlike traditional loans, invoice factoring allows one to sell outstanding invoices to a factoring business for instant funding. altLINE will then advance you between 80%-90% of the receipt, giving itself a discount rate of between 0. Fixed Daily Payment : This is how much you expect to pay the ACH or cash flow loan provider on a daily basis until the loan amount + fees are repaid. This type of financing offers faster, easier approval, and is. You can apply for invoice. altLINE typically charges $350 – $500 for the initial filing fee, but we will occasionally. That's one of the lowest you can get, making it more affordable. Grey was previously the Director of Marketing for altLINE by The Southern Bank. Jim is the General Manager of altLINE by The Southern Bank. The company has grown from no revenue to $500,000 month in billings in the span of 6. Learn how to convert your unpaid invoices into working capital so you can get back to growing your business. A quote in business, also known as a price quote, is an estimation document sent by a seller that tells the customer, in detail, how much a specific project or service is expected to cost. ’. For example, selling an invoice of $10,000 will not generate the same returns as a $50,000 invoice.