altLINE (The Southern Bank)

Best for: B2B companies, including startups and owners with weak credit, that invoice creditworthy business customers on terms of 90 days or less and want a bank-owned factor advancing 80% to 90% within a day.

Not for: Businesses selling to consumers, anyone who wants to factor a single invoice now and then, or owners unwilling to sign a personal guarantee and a contract that third-party reviewers put at 6 to 12 months.

Lender List verdict: altLINE is unusual among factors because the money comes from a regulated, FDIC-insured Alabama bank, and it publishes more of its fee schedule than most peers. Its quoted fee runs 0.75% to 3.5% of the invoice and climbs the longer your customer takes to pay; our 45-day example works out to roughly 24% simple annualized.

altLINE at a glance

altLINE factors B2B invoices of $30,000 to $5,000,000 for a fee of 0.75% to 3.5% of the invoice.

What is altLINE?

altLINE is the invoice factoring division of The Southern Bank Company, a bank founded in 1936 in northeast Alabama that runs the program within its FDIC-insured, state-regulated charter. It reports more than $1 billion in invoices factored for clients nationwide. Beyond standard factoring, altLINE offers freight factoring, A/R financing from $150,000 and asset-based lines from $1,000,000 for companies with two or more years of history.

How altLINE invoice factoring works

altLINE invoice factoring buys your unpaid B2B invoices, advances 80% to 90% of their value within 24 hours, and collects payment from your customer directly. Its product comparison page lists advances as low as 75% on some accounts.

• What you factor: Your whole ledger or selected customers, at an agreed volume; NerdWallet says one-off invoices are not accepted.
• Contract: Not published by altLINE; NerdWallet reports 6 to 12 months, Merchant Maverick 12 months exclusive, with early exit usually allowed in the first two months for good reason.

How the funding cycle works

The altLINE funding cycle ends when your customer pays the invoice.

1. You invoice your customer and submit the invoice to altLINE.
2. altLINE verifies it and sends 80% to 90% of its value.
3. Your customer pays altLINE on normal terms.
4. altLINE releases the balance to you, minus its fee.

altLINE advance rate, factor fee, and recourse

altLINE charges 0.75% to 3.5% of the invoice's face value per its product page, collected when the invoice is paid; its rates page lists a 0.5% to 3.0% starting fee that rises as the invoice ages.

• Fee structure: In altLINE's own illustration, a 1.5% fee covers the first 30 days and 0.5% is added for each further 10 days.
• One-time fee: Origination of $150 to $500, occasionally up to 1% of the credit line, charged after funding.
• Transfer fees: Wires cost $15 to $30; ACH transfers cost $0 to $3.
• Not charged: Lockbox, monthly access, credit approval, renewal or same-day funding fees; no float days.
• Recourse: altLINE's site does not state its policy; NerdWallet and Merchant Maverick both describe it as recourse, so you buy back invoices your customer never pays.
• Monthly minimum: Not published by altLINE; Merchant Maverick reports $15,000 to $20,000, and NerdWallet requires an agreed volume.

Worked example: factor a $100,000 invoice your customer pays in 45 days. At an 85% advance you receive $85,000. On altLINE's illustrative schedule the fee is 1.5% plus two 0.5% steps, or 2.5% ($2,500), so you get back $12,500 when the customer pays. That is about 24% simple annualized on the $85,000 advanced (about 27% compounded), before the one-time origination fee. Applying the same 1.0% step-up to the lowest (0.5%, rates page) and highest (3.5%, product page) fees altLINE lists, the same 45-day invoice costs $1,500 to $4,500, roughly 14% to 43% simple annualized.

altLINE requirements

altLINE sets no minimum credit score or time in business; it underwrites mainly on whether your customers pay reliably.

Expect to supply an A/R aging report, customer list, tax ID and personal ID; Merchant Maverick adds limits on recent bankruptcies and felonies.

Pros and cons

altLINE's strengths are bank backing and a detailed fee list; its weaknesses are recourse and a reported 6-to-12-month commitment.

Pros

• Owned by an FDIC-insured, state-regulated bank founded in 1936
• No minimum credit score or operating history
• Publishes wire, ACH and origination fees and lists the fees it doesn't charge
• Advances within 24 hours
• Freight factoring, A/R financing from $150,000 and asset-based lines from $1,000,000 under one bank

Cons

• Recourse: unpaid invoices come back to you
• Personal guarantee and UCC lien
• No one-off invoice factoring; contract reported at 6 to 12 months
• $30,000 minimum facility on altLINE's own page

altLINE vs. FundThrough vs. Riviera Finance

altLINE quotes 0.75% to 3.5% of the invoice with an 80% to 90% advance, versus 1.9% to 2.9% per 30 days at FundThrough and an unpublished rate at Riviera Finance.

FundThrough and Riviera Finance figures are from their own sites, checked 2026-10-26.

Choose altLINE for a bank factor with fees spelled out. Choose FundThrough to fund invoices one at a time. Choose Riviera Finance for non-recourse protection.

altLINE alternatives on Lender List

The closest altLINE alternatives are FundThrough, Riviera Finance, SouthStar Capital and Star Funding.

• FundThrough — spot factoring with a 100% advance
• Riviera Finance — non-recourse factoring since 1969
• SouthStar Capital — factoring plus purchase order funding
• Star Funding — factoring at 1% to 3% per 30 days
• Browse all invoice factoring lenders on Lender List

Frequently asked questions about altLINE

altLINE is a bank-run invoice factor that advances 80% to 90% of B2B invoices within 24 hours.

Is altLINE Legit? Yes, and altLINE reviews are mostly positive. altLINE is a division of The Southern Bank Company, an FDIC-insured, state-regulated bank operating since 1936, and says it has factored over $1 billion in invoices. It holds an A+ BBB rating, and Merchant Maverick reports a 4.8/5 Trustpilot score from 58+ reviews. NerdWallet rates it 4.4 and Merchant Maverick 3.8.

Who Owns altLINE? The Southern Bank Company owns altLINE and runs it as a division. The bank was founded in 1936, is based in Gadsden, Alabama, and reported $133.1 million in assets at June 30, 2026. altLINE factors invoices for businesses nationwide, often through referrals from bankers, accountants and advisors.

How Much Does altLINE Factoring Cost? altLINE quotes 0.75% to 3.5% of the invoice, with the fee rising as the invoice ages. A $100,000 invoice paid in 45 days costs about $2,500 in our example, roughly 24% simple annualized. Expect a $150 to $500 origination fee and $15 to $30 per wire.

Is altLINE Recourse or Non-Recourse? Recourse, according to NerdWallet and Merchant Maverick; altLINE's own pages don't state a policy. Under recourse factoring you repay the advance if your customer never pays, so the credit risk stays with you. Merchant Maverick also reports a 12-month exclusive contract.

Will My Customers Know I'm Factoring With altLINE? Yes, in most cases. Your customers pay altLINE directly and altLINE handles collections, so they are normally told a third party holds the invoice. altLINE says non-notification arrangements exist but doesn't publish who qualifies; Merchant Maverick lists altLINE as notification factoring.

How Fast Does altLINE Fund? Usually within 24 hours. altLINE says 80% to 90% of an invoice's value reaches your bank account within a day; NerdWallet reports 24 to 48 hours, sometimes the same day. Merchant Maverick says the online application takes about 10 minutes, and facilities start at $30,000.

Last verified 2026-10-27. Pricing and terms are provider-stated or third-party-reported and vary by offer; confirm with the lender before applying.