Best Factoring Service Overall
For 83 years, altLine The Southern Bank Company, a well-established lender, has provided small businesses with funding. Its alternative lending arm offers various options, including invoice factoring. Unlike most of the factoring services we reviewed, altLINE is backed by an established, reputable bank. That gives this company unprecedented authority in the industry. Because of its minimum qualifications, funding capabilities and strong reputation, altLINE is the best overall factoring service.
For clients, the company offers an advance ranging from $30,000 to $5 million, and it will advance between 80 and 90% of the face value within 24 hours. Its charges start below average at 0.75% but go up to 3.5%. It will vary based on business, industry and needs. altLine doesn't consider how profitable your company is or how long you've been in business.