altLINE

Overview

altLINE is the accounts receivable financing division of The Southern Bank Company. The bank is a state-chartered community bank in Gadsden, Alabama. FDIC institution records list it under certificate number 29731. The bank was established on June 1, 1936, and its main office is at 221 South 6th Street in Gadsden. The same FDIC record shows total assets of about $133 million at June 30, 2026.

altLINE's About page says the bank built altLINE after seeing steady demand from local businesses for credit that traditional bank lines could not serve. It now runs the division as a national specialty lender under the bank's charter. The company says that, as a division of an FDIC-insured bank, it funds directly and can pass the savings on to clients.

Its homepage says it has factored more than $2 billion in invoices. Its About page says more than $1 billion.

Services

• Invoice factoring. General accounts receivable factoring for B2B companies. Advances are paid within 24 hours of submitting an invoice, according to the company. The rest of the invoice, less the fee, is released after the customer pays.
• Freight factoring. For carriers, with its own pricing. Its freight guide says factored freight invoices are typically paid within 24 hours.
• Customer credit checks. altLINE says it does not charge for credit approvals on clients' customers. Its freight guide says it does not charge for debtor credit checks, invoice processing or portal access.
• Online portal. Portal access carries no monthly charge.
• Lockbox. No charge for lockboxes, according to its fee table.

altLINE publishes a long explainer on recourse and non-recourse factoring. It quotes its own staff on the limits of non-recourse protection. In that article, its operations manager says non-recourse contracts usually protect a client only when a customer goes bankrupt, not when it disputes an invoice. The article includes a worked example in which a carrier factors with altLINE on a recourse basis. The site does not state which options altLINE itself offers.

Industries served

altLINE's homepage lists staffing, distribution, manufacturing, consulting and other professional services, janitorial services, oil and gas, apparel and trucking among the industries it serves.

Published terms

altLINE's rates explainer says pricing depends on how long invoices stay open, the credit quality of the client's customers, how concentrated receivables are in a few customers, and how much is factored. Pricing also depends partly on whether a client finances all invoices or only selected ones.

The same explainer gives a tiered example. The fee starts at 1.5% for the first 30 days and rises by 0.5% for each further 10 days. It reaches 4.5% by 81 to 90 days. The company presents this as an illustration, not a quote.

The rates table lists no renewal fee for altLINE. Its freight guide says a factoring fee, an origination fee, an early termination fee and a renewal fee appear "in every contract, regardless of your provider". The freight guide also describes 6 to 12 months as a standard freight contract in the industry and mentions auto-renewal windows and early termination fees. It does not say these are altLINE's own terms. It says whether a carrier factors all invoices largely depends on whether it meets a monthly funding minimum, but does not state altLINE's minimum.

How to apply

altLINE's invoice factoring page lists the items factors commonly ask for: unpaid invoices, customers with a history of paying on time, an application, an accounts receivable aging report, a business bank account, a tax ID and personal identification.

The company says approval rests mostly on the credit of the client's customers. It says there is no minimum credit requirement for the business itself. It also says its programs do not require an established operating history. The setup fee is charged only after a client has been funded.