altLINE is the invoice factoring division of The Southern Bank Company, an FDIC-insured community bank in Alabama founded in 1936. It buys your receivables from other businesses and typically advances 80% to 90% of their value within 24 hours; when your customer pays, it sends you the rest minus a fee that usually runs 1% to 5% (per its site, checked in October 2026). It fits B2B businesses that wait 30 days or more to get paid. If you sell to consumers or don't invoice other businesses, it isn't for you.
In this review we explain how it works, what fees it publishes, who it fits, what to check in the contract and what alternatives you have, including Merchant Fund Express, our recommended funder. We don't invent customer reviews: this is our assessment based on what the company publishes.
Key takeaways
- altLINE is a division of The Southern Bank Company, an FDIC-insured bank founded in 1936.
- It typically advances 80% to 90% of the invoice value within 24 hours once the agreement is signed.
- Its factoring fee usually runs 1% to 5% and can rise the longer an invoice stays unpaid.
- It doesn't publish a minimum credit score: it mainly looks at your customers' credit.
- It only works if you invoice other businesses; your customer pays altLINE directly.
- We found no Spanish-language support or ITIN information on its site.
What altLINE is and who's behind it
altLINE was created inside The Southern Bank Company, a community bank in northeast Alabama founded in 1936, to offer receivables-based financing to businesses nationwide. It operates within an FDIC-insured, state-regulated bank (per its site, checked in October 2026).
Its products are:
- Invoice factoring: you sell open invoices and receive an advance.
- Accounts receivable (A/R) financing.
- Freight factoring for trucking companies.
- Payroll funding based on your invoices, so you don't fall behind paying your team.
The industries it mentions most are staffing agencies, distribution, consulting, wholesale, oil and gas, commercial cleaning, trucking, manufacturing, food and beverage, professional services and textiles. It also says it's a member of the International Factoring Association (IFA), which holds members to a code of conduct.
If factoring is new to you, start with how invoice factoring works and when it makes sense.
How factoring with altLINE works
- You sign the factoring agreement. altLINE reviews your business and, above all, your customers: it verifies invoices and the payment history of the companies that owe you.
- You submit your invoice to altLINE after billing your customer.
- You receive the advance: usually 80% to 90% of the invoice value in your account within 24 hours.
- Your customer pays altLINE. altLINE handles collections.
- You receive the rest, minus the factoring fee.
One thing worth thinking through: since your customer pays altLINE, your customer knows you factor. In many B2B industries that's normal, but if you have a sensitive client relationship, talk it over first.
altLINE explains that factoring is a sale of your invoices, not a loan, so it doesn't show up as debt on your balance sheet. And because the advance depends on your invoices, the funding available to you grows as your sales grow.
What altLINE charges: published fees
| Item | What altLINE publishes |
|---|---|
| Advance per invoice | 80% to 90% of the invoice value, usually within 24 hours |
| Factoring fee | Usually 1% to 5% of the invoice value, depending on your customers, volume and invoice aging |
| Fee structure | Can increase while the invoice remains unpaid (tiered or daily) |
| Origination fee | Usually $150 to $500; occasionally up to 1% of the facility; charged after funding |
| ACH transfers | From $0 |
| Wire transfers | $15 to $30 per wire |
| Float days | Not included in its contracts |
| Monthly platform fee | None |
| Customer credit checks | No charge |
Figures per altLINE's official site, checked October 20, 2026. altLINE notes that it tailors rates to each client, so your contract may differ.
How the fee grows. altLINE describes two structures: tiered, where the fee steps up every 10 to 30 days the invoice stays unpaid, and daily, where it rises a little each day. In its tiered example, the initial fee covers the first 30 days and then increases every 10 days. The lesson: your real cost depends on how fast your customers pay. If they pay in 60 or 90 days, run the numbers before you sign.
It also warns about other fees common in the industry that you should look for in any contract: lockbox fees, monthly volume minimums, unused-line fees and teaser rates that jump after the first month.
Requirements: what it asks for and what it doesn't publish
According to its site, altLINE has no minimum credit score for factoring: it looks more at your customers' creditworthiness than yours. It also says its programs don't require a long operating history and lists businesses under 12 months old among those that benefit.
In practice, you need:
- Customers that are other businesses or organizations with a good payment history.
- Invoices for work already delivered.
- A registered business with a business bank account.
- Documents so it can verify your invoices and your customers.
What we couldn't find published: whether it accepts owners with an ITIN, whether it offers Spanish-speaking support, a minimum invoice volume or typical contract length. If any of those matter to you, ask in writing before signing. We also couldn't confirm on its site whether its standard factoring is recourse or non-recourse; read recourse vs. non-recourse factoring to know what to ask.
Pros, cons and who it fits
| Pros | Cons |
|---|---|
| Backed by an FDIC-insured bank | Only works if you invoice other businesses |
| 80% to 90% advance, usually within 24 hours | The fee rises if your customers pay slowly |
| No published minimum credit score | Your customer pays altLINE and knows you factor |
| Published fees and no float days | No Spanish-language support or ITIN information found |
| Funding grows with your sales | Costs more than a bank loan if you qualify for one |
A good fit for: staffing agencies, distributors, commercial cleaning companies, trucking companies, manufacturers and contractors that invoice businesses on 30, 60 or 90 day terms and need to make payroll before they get paid.
Think twice if: you sell to consumers (restaurant, salon, retail shop), your customers often pay late, one customer accounts for nearly all your invoices or you'd rather no one else collect from your customers.
What to check in the contract before you sign
- The full fee schedule, tiered or daily, and what you'd pay if your customer pays in 30, 60 and 90 days.
- Recourse or non-recourse: what happens if your customer doesn't pay, and when an invoice can be sent back to you.
- Volume minimums and fees if you don't hit them.
- Term and auto-renewal: when and how you can cancel without fees.
- Concentration limits: whether there's a cap on how much you can factor from a single customer.
- Personal guarantee and UCC lien on the business's receivables.
To compare with other companies in the space, see our roundup of the best invoice factoring companies.
altLINE alternatives
| Point | altLINE (factoring) | Merchant Fund Express |
|---|---|---|
| Based on | Your receivables from other businesses | Your sales and deposits, not just your credit |
| Which businesses | B2B businesses invoicing on 30+ day terms | Businesses with steady sales, whether they sell to companies or consumers |
| Amounts | Based on your invoice value | $5,000 to $5,000,000 |
| Credit | No published minimum; looks at your customers' credit | FICO 500+; stronger credit and cash flow usually mean better offers |
| Speed | Advance usually within 24 hours once the agreement is signed | Decisions often in 2 to 4 hours |
| Who collects from your customers | altLINE: your customer pays altLINE | You keep collecting from your customers |
| ITIN | Not mentioned on the pages reviewed | Accepts ITIN applicants, no SSN needed |
| Spanish-speaking support | No information found | Yes |
Merchant Fund Express is our recommended funder when factoring doesn't fit: if you sell to consumers, don't want anyone else collecting from your customers or need capital for something not tied to an invoice. It reviews your sales and deposits, often decides in 2 to 4 hours and doesn't require collateral in most cases. You can apply with Merchant Fund Express for free with no impact to your credit.
Other honest alternatives: a bank or SBA line of credit usually costs less if you have good credit, years of history and clean financial statements, though it takes longer. If you're torn between factoring and a sales-based advance, read MCA vs. invoice factoring. Prefer Spanish? Leer en español.
Frequently asked questions
Is altLINE legit?
altLINE is a division of The Southern Bank Company, an Alabama community bank founded in 1936 that is FDIC-insured and state-regulated, according to its site. That gives it institutional backing. Still, read the full contract, make sure you're dealing with the official domain and never pay an upfront fee to "release" an approval.
How much does altLINE charge to factor an invoice?
According to its site, the factoring fee usually runs 1% to 5% of the invoice value, depending on your customers' credit, your volume and invoice aging, and it can rise while the invoice stays unpaid. It also publishes an origination fee of usually $150 to $500 and wire fees of $15 to $30.
Can I use altLINE factoring with bad credit?
altLINE says it has no minimum credit score for factoring, because it mainly looks at your customers' credit. What matters most is that you invoice businesses with a good payment history. If your business sells to consumers, factoring doesn't apply, and a funder that reviews your deposits is a better place to look.
Does altLINE accept an ITIN or offer Spanish-speaking support?
On the pages we reviewed in October 2026, we found no information about ITIN applicants or Spanish-speaking support. Ask in writing before you apply. If you need both, Merchant Fund Express accepts applicants with an ITIN and offers Spanish-speaking support.
How fast does altLINE fund?
According to its site, once the factoring agreement is signed, you submit your invoice and usually receive the 80% to 90% advance within 24 hours. The initial approval includes reviewing your invoices and your customers, so the first round can take longer than later ones.
What happens if my customer doesn't pay altLINE?
It depends on whether your contract is recourse or non-recourse. With recourse, you're responsible for the unpaid invoice; with non-recourse, the factoring company takes on the risk of certain non-payments, usually in exchange for higher fees. We couldn't confirm which altLINE offers as standard, so get it in writing.