Finder makes money from featured partners, but editorial opinions are our own. Advertiser Disclosure

AltLine invoice factoring review

Low-cost factoring from a bank, but it can take over a week to get your funds.

Bottom line: AltLine is a bank factoring company that offers low-cost services with few hard requirements. But the alternative may get you the funds faster. Read our full review. or get our 30-second take.

No reviews yet. Write a review


Max. Amount$4,000,000
Loan TermUp to 12 months
Min. Credit Score500
APRNot stated
RequirementsNot stated


  • Advance rates as high as 90%
  • Low fees from 0.5% to 2.5% per month
  • No minimum monthly invoice volume
  • Factoring from a bank


  • Doesn’t disclose much information online
  • Can take over a week to receive funds
  • Requires 12 month contract
  • Lower advance rates for product-based businesses

Our take on AltLine factoring

AltLine Factoring can be a good choice for established small businesses that regularly experience cash flow shortages. It’s one of the few bank factoring companies I’ve reviewed, meaning that it’s required to meet more rigorous standards than your average factor. It’s relatively standard compared to other factoring companies I’ve reviewed, in terms of fees and the length of the contract. But its requirements are a little more flexible when it comes to the businesses that can qualify.

But while there’s no minimum invoice volume or time in business requirement, it’s not ideal for newer businesses. AltLine prefers to work with companies that have at least $20,000 in monthly invoices. And like most bank loans, it can take at least a week to get funded and requires more paperwork than an online lender. Consider other options like invoice financing if you need to fund a smaller amount or need cash quickly.

AltLine advance rates, fees and terms

AltLine offers advance rates that typically range between 80% and 90% of your unpaid invoice’s value, up to $4 million. This can depend on the type of business you have. 

  • Product-based businesses usually qualify for advance rates between 80% and 85%
  • Service-based businesses typically receive an advance of between 85% and 90%

This is the amount of funds your business receives upfront. As your clients fill their invoices, you’ll receive the rest of the funds, minus a discount fee.

This discount fee ranges from 0.5% to 2.5% per 30 days an invoice is outstanding. The fee you receive depends on factors like your monthly invoice volume, your customer’s credit quality and the complexity of the billing or contracting system your business uses. There are no other ongoing fees.

You’re required to commit to a contract of at least 12 months when you sign up for AltLine factoring. But there’s no minimum invoice volume. This means your business won’t be penalized if it decides not to factor any invoices during that time.

How AltLine compares to other lenders

Here’s how AltLine compares to two other providers that offer factoring. 

FundThrough offers both invoice financing and factoring to a wider range of small businesses than AltLine, in amounts from $500 to $10 million. But the fees can be significantly higher — for advances under $15,000, you could end up paying four times as much as AltLine charges per month.

Lendio is an online marketplace that can connect your small business with a factoring company. Its partners can fund your advance within 24 hours with similar advance rates and terms as AltLine. But the lowest discount rate its partners offer is 2% — close to AltLine’s highest rate.

AltLine invoice factoring

FundThrough Invoice Factoring and Financing


Finder rating 4.5 / 5

Read Review
Read Review

Loan amount

Up to 90% of the invoice's value

Loan amount

$500 – $10,000,000


Not stated


Not applicable

Loan Term

Up to 12 months

Loan Term

1 to 3 months


Not stated


Regularly receives invoices due within 30 to 90 days.

Eligibility requirements

AltLine only really has two hard requirements:

  1. You must have creditworthy customers that regularly pay their bills on time
  2. Business owners must have at least a 500 personal credit score

But there are no time in business, revenue or invoice volume requirements. And while The Southern Bank only serves Northeast Alabama, AltLine offers factoring in all 50 states.

How the application process works

You can get started on your AltLine invoice factoring application by filling out a quick form on its website or by calling 205-607-0811. If approved, you’ll receive a quote and instructions on how to complete your application. 

AltLine typically asks for the following documents, along with a completed application form.

  • Accounts receivable aging reports
  • Sample customer invoice
  • Sample customer contract

Once you’ve submitted your application and documents, it typically takes between three and seven business days to receive funds. AltLine will disburse any funds remaining after fees when your clients fill their invoices.

Other products available through AltLine

In addition to factoring, AltLine also offers accounts receivable financing. It works a lot like factoring, but with a slightly lower advance rate of 70% to 90% and discount fees from 1% to 5%.

Generally, this option is best reserved for businesses that have a monthly invoice volume of at least $500,000.

What sets it apart

The fact that AltLine is one of the few banks that offers factoring services sets it apart. Its discount fees are on the lower end compared to non-bank competitors. But it can also take much longer to receive your funds than it would through an online provider.

Most factoring companies also aren’t as flexible when it comes to requirements. While most factoring companies have a hard minimum monthly invoice volume invoice requirement, AltLine doesn’t — even if it prefers to work with businesses with at least $200,000 in monthly invoices. 

Is it legit?

AltLine is a legitimate factoring company. It’s part of The Southern Bank, a community bank that has been serving Northern Alabama since 1936. This means that unlike nonbank factors, it has to meet federal and state regulatory requirements. It’s also easy to find essential information about its security and privacy policies on the AltLine website.

But you might want to compare more factoring companies before you apply. This helps make sure you’re getting the best deal available to your business.

Ask an expert

You are about to post a question on

  • Do not enter personal information (eg. surname, phone number, bank details) as your question will be made public
  • is a financial comparison and information service, not a bank or product provider
  • We cannot provide you with personal advice or recommendations
  • Your answer might already be waiting – check previous questions below to see if yours has already been asked

Finder only provides general advice and factual information, so consider your own circumstances, or seek advice before you decide to act on our content. By submitting a question, you're accepting our Terms of Use and Privacy and Cookies Policy.
Go to site