Finder is committed to editorial independence. While we receive compensation when you click links to partners, they do not influence our opinions or reviews. Learn how we make money.

AltLine invoice factoring review

Last updated:  

Backed by a bank — but missing some important information online.

  • Best for business owners looking for invoice factoring backed by a bank.
  • Pick something else if you want transparent terms.

Details

Product NameAltLine invoice factoring
APRNot stated
RequirementsNot stated

First, do I qualify?

AltLine doesn't list specific eligibility criteria on its website. Because of this, it's hard to say which businesses will qualify. You will need to reach out to an AltLine representative to see if your business may be eligible for funding.

How much will this loan cost me?

The exact cost of your loan will depend on how much you have financed. AltLine's factor rates start at 0.5% — but it doesn't provide any information on how much or how little you can borrow. And since terms also vary based on your invoicing period, you'll only know the full cost once you start the application process.

How pricing works

AltLine doesn't have any set information online about its process, and when we tried to get in touch, we weren't able to speak with a representative. Your factor rate will likely be based on the amount of your invoice and your invoicing period. But the specific factor rate and advance you receive may not be clear until after you get in touch with AltLine.

Pros and cons

While AltLine is a legit service, there are still some drawbacks you should be aware of before you apply:

Pros

  • Advances up to 90% of invoice value
  • Backed by The Southern Bank
  • Only charges a factoring fee

Cons

  • Must repay advance if customer is unable to pay
  • No online application process
  • Limited information available online

Compare other business loan options

To see even more options, select your loan amount, annual revenue, time in business and personal credit score. Then click Show loans.

Data indicated here is updated regularly

Name Product Filter Values Loan amount APR Requirements
First Down Funding business loans
$5,000 – $300,000
Fee Based
At least 1 year in business, an annual revenue of $100,000+, and a minimum credit score of 400
Alternative financing up to $300K with highly competitive rates.
Lendio business loans
$500 – $5,000,000
Starting at 6%
Operate business in US or Canada, have a business bank account, 560+ personal credit score
Submit one simple application to potentially get offers from a network of over 300 legit business lenders.
ROK Financial business loans
$10,000 – $5,000,000
Varies
Eligibility criteria 3+ months in business, $15,000+ in monthly gross sales or $180,000+ in annual sales
A connection service for all types of businesses — even startups.
OnDeck small business loans
$5,000 – $250,000
As low as 9.99%
600+ personal credit score, 1 year in business, $100,000+ annual revenue
A leading online business lender offering flexible financing at competitive fixed rates.
Rapid Finance small business loans
$5,000 – $1,000,000
Fee based
Steady flow of credit card sales, bad credit OK
loading

Compare up to 4 providers

How do I apply?

You'll need to request a quote from AltLine before you apply. To get started:

  1. Visit AltLine's website and click Apply now
  2. Enter your full name, email, phone number and company name
  3. Select your average gross monthly sales
  4. Click Get my free quote

A representative will reach out to you by phone or email to review your details and determine if factoring is the right option for your business.

What documents do I need to apply?

AltLine doesn't list any specific documents you will need to apply. However, you may need to submit a business plan, proof of revenue and other information when you complete an application. Check with your AltLine representative for more information.

How do repayments work?

Once the invoice is paid, AltLine will send you the remaining 10% to 20% of your invoice, minus the factoring fee. Because AltLine is a recourse lender, you'll be responsible for repaying your advance if your client fails to pay the invoice on time.

AltLine advances your business between 80% and 90% of an invoice's value. Once the invoice is paid, you'll receive the rest of the amount minus any fees.

Other AltLine products

AltLine also offers asset-based lines of credit and accounts receivable financing. But like its invoice factoring option, there are no specific details on the products available online.

AltLine isn't transparent about its terms — which may make it hard to determine if it's the right choice for your business. Compare other invoice factoring companies before settling on a lender that doesn't provide much information.

Expert review

Kellye Guinan

Review by


Kellye Guinan is a writer and editor with Finder and has years of experience in academic writing and research. Between her passion for books and her love of language, she works on creating stories and volunteering her time on worthy causes. She lives in the woods and likes to find new bug friends in between reading just a little too much nonfiction.

Expert review

AltLine is part of The Southern Bank and offers invoice factoring to a wide range of businesses. But its website only has generic information about factoring in general. There are no details on how much you can have advanced or the full cost you might face when you take out an advance.

To learn if your business is eligible, you’ll need to reach out to AltLine directly. You can also compare other short-term business lenders once you learn more to see if AltLine’s financing options are competitive.

Ask an expert

You are about to post a question on finder.com:

  • Do not enter personal information (eg. surname, phone number, bank details) as your question will be made public
  • finder.com 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 finder.com Terms of Use and Privacy and Cookies Policy.
Go to site