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AltLINE Review

Matt D'Angelo
Matt D'Angelo

The Southern Bank Company is an established lender, providing small businesses with funding since 1936. Its alternative lending arm, AltLINE, provides small businesses with various invoice financing loans. Unlike some of the alternative lenders on our list, AltLINE is backed by an established, reputable bank. AltLINE enables The Southern Bank Company to issue loans on a national scale, and its relaxed qualifications and requirements can help businesses in various industries. By partnering with AltLINE, you can get financing ranging from $30,000 to $5 million.



The Verdict

AltLINE provides a compelling service at reasonable rates. It also prioritizes businesses' needs and finds the right type of financing for each business.

To view all our recommendations for small business financing, visit our best picks page.

This highly transparent company outlines its rates, qualifications and loan structure directly on its site. For small business owners researching several companies and loan options, this is ideal. It also shows that the company is confident in its offering and helpful in educating small businesses owners about invoice financing.

The company's website also has some pages on the invoice financing industry. It explains some hidden fees that are popular with business loan companies and provides a clear breakdown of how factoring works. Overall, we were very pleased with AltLINE's support and commitment to small businesses.

Rates and Terms

AltLINE can advance up to 90% of your accounts receivable. The overall structure is pretty simple. Your business receives an initial advance up to 90% of the amount of your outstanding invoices. AltLINE keeps the remaining amount – let's say 10% in this scenario. Once your customers pay off all the invoices, AltLINE issues its fee, then returns the initial 10%. You can read more about the individual fee structure here.

In invoice financing, the overall rate or fee associated with the loan is called a discount rate. AltLINE determines its discount rates by the dollar amount of invoices needing to be factored, how long each invoice has gone unpaid and the overall credit quality of the customer paying the invoice. For the basic factoring loan option from AltLINE, businesses can expect to pay 0.75% to 3.5% on their invoices. The A/R credit line has more complicated rates that vary based on your customers' credit scores and the time an invoice has gone unpaid.

Term length doesn't apply in the traditional sense to invoice financing. It's not the type of loan where you set up a designated period and slowly pay back interest and principal. Instead, you're incentivized to get your customers to pay off the invoices by the accruing fee percentage. There may be some more concrete requirements based on your customers' credit scores.

Company Features

AltLINE provides loans with limited collateral and relaxed qualifications. The overall process is simple and efficient, and you're dealing with a company that's part of a reliable banking institution.

Loan Process

The first step to secure a loan through AltLINE is calling the company or filling out the online form to request a quote. This will put you in touch with AltLINE loan specialists who can find the right loan product for you and work with you to understand if invoice financing works for your company. Once you've received your initial quote, you can fill out an application and reach an official agreement. AltLINE doesn't require advanced documentation, as your customer's credit score is the main factor.


Invoice financing is a loan product that doesn't include standard terms like normal loans. There may be time guidelines to get the best rate, but this will vary based on your business's agreement.


AltLINE has some of the most relaxed qualifications of any business we analyzed. It doesn't have any requirements for time in business, credit score, or monthly or yearly revenue. It will make sure that your billing cycles can handle invoice financing, and it will verify that you're lending to commercial customers. Otherwise, there are no major qualifications.


AltLINE doesn't require collateral in the form of defined assets or property. It does require a personal guarantee, which is a legally binding statement that you'll pay back the loan. This means you can get a loan without risking your personal assets.

Time Until Deposit

The process will vary with each business, but expect to get your money quickly once you reach an agreement with AltLINE.

Special Documentation

AltLINE will check your customers' credit scores through a third-party credit check service. It doesn't look at your own credit score, but it may ask for information regarding your business's billing cycles and habits. The lack of requirements in this area mean you can quickly get an idea of what type of loan you qualify for and decide if you want to get funding.

When to Use This Type of Loan

AltLINE is well suited for a number of businesses, especially new businesses and startups. The lenient qualifications and limited requirements make AltLINE ideal for growing businesses looking to expand their cash flow. Invoice financing is also a good solution for any business looking to improve operations by advancing funds. The money can be used to expand your business, cover payroll, manage cash flow, and invest in marketing or advertising campaigns.

Reputation and Customer Service

Overall, AltLINE has a solid reputation as an alternative lender. It's backed by a reliable bank and, as of March 2019, has an A+ accreditation with the Better Business Bureau. We couldn't find a lot of individual reviews on AltLINE, but the company's transparency and customer service verify it as a reliable service. It's one of the few lenders we analyzed that provides this level of transparency, and one of the only ones that publishes articles on the entire loan industry to educate business owners. Once you partner with AltLINE, it provides an account executive to be your point of contact for your entire invoice financing experience. This level of personalized support is rare in the alternative lending industry.

We called AltLINE and posed as small business owners to find out more about its loan products. The company provided clear, concise information on its loan offering and the loan industry. The company's representatives were friendly and didn't push us to sign up for a loan. They answered all our questions adequately.

Editor's note: Need a business loan? Click the Compare Quotes button below to have our sister site BuyerZone connect you with vendors that can help.


Image Credit: Dutko / Getty Images


The Verdict

AltLINE provides a compelling service at reasonable rates. It also prioritizes businesses' needs and finds the right type of financing for each business.

Matt D'Angelo
Matt D'Angelo Contributing Writer
I've worked for newspapers, magazines and various online platforms as both a writer and copy editor. Currently, I am a freelance writer living in NYC. I cover various small business topics, including technology, financing and marketing on and Business News Daily.