[…]Invoice Factoring. 100% Transparency. Give altLINE a Call. So, even if you don’t need to continue to factor invoices, the factoring company won’t let you out of the contract until the time commitment has been met. altLINE partners with lenders nationwide to provide invoice factoring and accounts receivable financing to their small and medium-sized business customers. 1 billion. 1 10 Ways to Improve Cash Flow. Non-notification factoring is used by businesses to improve accounts receivable cash flow as an alternative to financing methods such as traditional factoring, taking out a loan, or applying for a line of credit. altLINE partners with lenders nationwide to provide invoice factoring and accounts receivable financing to their small and medium-sized business customers. On a $100,000 advance with a factor rate of 1. Spot factoring differs from traditional invoice factoring because it is primarily used to factor a single large invoice, rather than a set of invoices. A factoring company like altLINE will file a UCC on the client’s business, but since we do not offer factoring services for import-export companies, you will have to ask your lender before the process begins, as it may vary from factor-to-factor. Factoring is not a. 100% Transparency. Lending Options. Jim is the General Manager of altLINE by The Southern Bank. If you think invoice factoring for your staffing company is a better solution than selling at. With security guard factoring, a third-party factoring company such as altLINE fronts 80-90% of an invoice, allowing security companies like yours to instantly unlock capital within days of invoicing a customer. altLINE has been in the factoring industry for more than 80 years. You can apply for invoice factoring from altLINE online—qualified businesses can receive funding in as little as 48 hours. 50%. Input the advance rate, which is typically 80% – 90% but can be as high as 99%. Six Ways to Get Loads for Trucks. Is altline factoring right for your business: altline by Southern Bank is easy to approach, comprehensive, and responsive brand which helps you to get liquidity form a great alternative lending brand. 5 /5. Based on their professionalism and customer service, I would recommend altLINE to other businesses looking for invoice factoring solutionsPayroll loans and payroll funding (also known as payroll factoring) provide important ways to balance occasionally unpredictable flows of money. While working locally with small and medium-sized businesses, The Southern Bank recognized the consistent need for non-traditional commercial lines of credit. The discount serves as the service charge for the entity taking on the owed invoices. The industry makes $5 to $10 billion in capital each year. This makes for a great way to keep your cash flow consistent, as it removes the process of waiting for your customer to pay an. Jim is the General Manager of altLINE by The Southern Bank. Manufacturing businesses, as well as a host of professional service industries, are often a perfect fit for invoice factoring, as they consistently struggle with delayed payment terms that result in cash shortages. You can apply for invoice factoring from altLINE online—qualified businesses can receive funding in as little as 48 hours. With the federal funds rate at its highest since 2007, credit card annual percentage rates, or APRs, are also at record highs. In invoice factoring relationships, float refers to the difference between the time the finance company receives a payment and when it gives the factoring customer credit for the payment. When you factor with altLINE, we fund up to 90% of your invoices now, offering you a critical boost in cash flow that helps you stay on top of your expenses, no matter where your outstanding receivables stand. Best for: Fast access to invoice factoring for businesses who need at least $15,000 per month in factoring. altLINE is a direct bank lender and a division of The Southern Bank Company, a community bank originally. altLINE is a direct bank lender and a division of The Southern Bank Company, a community bank originally. Browse Online Load Boards. In general, the faster a staffing company’s customers pay, the better rate it will receive. Requires client’s customers to be credit worthy. altLINE partners with lenders nationwide to provide invoice factoring and accounts receivable financing to their small and medium-sized business customers. AltLINE offers both accounts receivable financing and invoice factoring, working with small businesses in a variety of industries, including startups and those that can’t qualify for traditional. Get Started. Aladdin Capital — Best for Small Business. While the city isn’t as old as some, it served as the main. While working locally with small and medium-sized businesses, The Southern Bank recognized the consistent need for non-traditional commercial lines of credit. Thus, this could also be written out as 1. Grey was previously the Director of Marketing for altLINE by The Southern Bank. Advances up to 90%. By eliminating intermediaries, the company reduces costs and improves reliability and trust for its clients. For instance, if an invoice of $5,000 is sold with a 3% factoring fee, the business owner receives $4,850, resulting in a lower profit with. altLINE is a direct source of funds so we are not exposed to borrowing costs that other independent financing and factoring companies pass on to their clients. Jim is the General Manager of altLINE by The Southern Bank. altLINE is a small business factoring solution provided by The Southern Bank. Fast Approval. Our team moves quickly so that you can get the cash you need to keep growing your business. With altLINE, businesses can receive an advance between 70% and 90% of an invoice's value that they can use to invest in their business. Whatever a lender may call it, there are certain things to keep in mind when evaluating options. altLINE partners with lenders nationwide to provide invoice factoring and accounts receivable financing to their small and medium-sized business customers. Thus, invoice factoring is an ideal financing solution for a business not wanting to wait 30,60 or 90 days for their receivables to roll in. altLINE is a direct bank lender and a division of The Southern Bank Company, a community bank originally founded in 1936. Invoice factoring fees are typically 1-5% of the total invoice value, which is usually a bit more expensive than other forms of financing. Learn how to convert your unpaid invoices into working capital so you can get back to growing your business. Result: The factoring line that was put in place has given the founders to take on growth at a rapid, yet healthy pace. It offers the same services as independent factoring companies while. Call us at +1 (205) 607-0811. Spot factoring, also known as single invoice factoring, is a way for companies to improve cash flow without taking out a loan or selling equity. Solutions; Financial SolutionsClick below or call +1 (205) 607-0811. 5%-5%. Funding can be available within 24 to 48 hours. Business owners who are considering invoice factoring to improve A/R cash flow may wonder what the payment process looks like between their customer and the factor. Invoice Factoring. 5 to 3. Zero Hidden Fees. It can be hard to know which one is the best out of all those options. Spot factoring differs from traditional invoice factoring because it is primarily used to factor a single large invoice, rather than a set of invoices. AltLINE is the commercial financing division of The Southern Bank, which has been in operation for over 84 years. Resources. However, we're confident that for a large group of small to medium-sized businesses, factoring invoices. What makes us different? Rates from 0. In response, The Southern Bank developed altLINE, an Accounts Receivable based financing platform for commercial customers. Backed by The Southern Bank Company, altLINE has provided more than $1 billion in funded invoices since 1936. (United States), OTR. The exact timing of your cash advance deposit usually depends on the date of your client’s receipt and job. Angela loves creating content that helps readers better understand. Regardless, this is simply another way your score can be revealed. 4. The exact timing of your cash deposit generally depends on your customer’s receipt and acknowledgment of. You can generally expect a factoring advance rate of 80-90% of your invoice’s face value and receive the cash advance between 24 and 48 hours after submission to altLINE. Zero Hidden Fees. altLINE offers competitive rates and can take advantage of not. Receive Advances Up To 95% Of The Invoice Face Value. Invoice factoring fees are typically 1-5% of the total invoice value, which is usually a bit more expensive than other forms of financing. AltLINE - Invoice FactoringaltLINE has been wonderful to work with and I’ve always felt confident that they have my back. Jim is the General Manager of altLINE by The Southern Bank. 5% – 4. Resources. altLINE is a direct bank lender and a division of The Southern Bank Company, a community bank originally. With 10 years’ experience in digital marketing, content creation and small business operations, he helped businesses find the information they needed to make informed decisions about invoice factoring and A/R financing. altLINE — Best for Flexibility. 5%. The exact timing of our deposit may vary depending on when you complete the job. Grey was previously the Director of Marketing for altLINE by The Southern Bank. 1-star 0% Filter Sort: Most relevant WM Wellman's Medical Staffing 1 review US Jul 13, 2023 Verified Highly recommend! We're a new start up company we have. 4. The highest pay recorded for small business owners is $135,000, and the lowest pay is $30,000. Call us at +1 (205) 607-0811. Instead, many Virginia Beach business owners turn to invoice factoring as an effective and accessible alternative financing solution that boosts working capital. 5% per 10 days (1. If you expect to factor at least $15,000 monthly, altLINE could be a good fit for you. Zero Hidden Fees. Get Started. No need to stress over sacrificing and potentially losing valuable assets. If you’re looking to. Input the factoring rate (sometimes referred to as the interest rate). Factoring companies are strategic business partners who have experience working with small and medium-sized businesses. altLINE is a direct bank lender and a division of The Southern Bank Company, a community bank originally. Referral Program for Factoring Brokers. box. Fees can be negotiated with the factoring company and vary by client. 100% Transparency. altLINE is a direct bank lender and a division of The Southern Bank Company, a community bank originally founded in 1936. Asset-based loans or lines of credit can be borrowed against equipment, property, inventory or receivables (in the form of an invoice factoring service ). OTR Solutions – Best for freight companies. What’s more, much of that growth can be attributed to companies under 2 years old, which increased SBA 7 (a) borrowing by 83% from 2020 to 2022. On the other hand, if you’re looking for a monthly factoring arrangement, you might work with altLINE, which requires that businesses factor at least $15,000 per month with them. eCapital Commercial Finance – Best non-recourse invoice factoring. . This means you will not have to wait for 30 or 90 days to receive the money owned by online stores. Initial Filing Fee / Origination Fee: An initial filing fee (or origination fee) is charged to process the invoice factoring application. If you send in another referral, you will receive a second e-gift card upon that referral’s initial funding. AltLINE is a wonderful non-recourse invoice factoring supplier for small company owners looking for a solution with quick payback terms. Not as suitable for startups or newer businesses. A bank lockbox payment is a payment processing service in the form of a P. 1. You can generally expect a factoring advance rate of 80-90% of every invoice’s face value and receive the cash advance between 24 and 48 hours of submission to altLINE. In finance, the term “float” can mean a lot of things. Back. Rated Top Factoring Company of 2023 Investopedia, TheBalanceSMB, Fundera, Business. If your typical invoice turnover time is between 30 and 90 days, your receivables are well-positioned for factoring. Invoice factoring with altLINE gets you the instant cash you need so you can keep growing your business. According to Justice, 65% of AltLINE’s portfolio is staffing and consulting firms. We help provide solutions to customers from a wide variety of sources. altLINE Advances Up To 80-90% Of The Invoice Face Value. altLINE partners with lenders nationwide to provide invoice factoring and accounts receivable financing to their small and medium-sized business customers. One way to do so is by utilizing debt factoring — a specific form of financing designed to help partners and managers reach short-term business goals and obtain funding without a loan. Using Factoring to Reduce Cash Flow Problems. Basically, their range is below the average for factoring companies. With an A+ rating from the Better Business Bureau, 40+ 5-star ratings on Trustpilot , and top marks from sites like Investopedia and Forbes , we offer a top notch customer experience and provide you with funding fast. Factoring by Industry. 5% – 4. DUBAI, UAE, Nov. Jim is the General Manager of altLINE by The Southern Bank. If your invoice turnover time is between 30 and 90 days, your receivables are well-positioned for factoring. Back. Grey was previously the Director of Marketing for altLINE by The Southern Bank. When you are approved, the factoring company sets up a factoring account to handle the transactions. With this in mind, altLINE can. Janitorial factoring through altLINE works to fund your business through cash advances. With a factoring fee of just 1. Breakout Capital — Best invoice factoring for startups; altLINE by The Southern Bank — Best for bank invoice factoring; RTS Financial — Best for industry-specific factoring; When it Makes Sense to Invest Into a Factoring Company. What Is Construction Factoring & How Does It Work? | altLINE Get Your Invoices Paid Faster With Construction Factoring Contents hide 1 What Is Construction Factoring? 2 Benefits Of Invoice. Because altLINE is both a factoring company and an FDIC insured bank, we provide more transparency and lower rates than independent invoice factoring companies. Alternatives To Invoice Factoring Companies for Small BusinessesDifferent factoring companies offer different services at varying pricing rates. According to PayScale, the average small business owner takes home a salary of $69,301 per year. altLINE partners with lenders nationwide to provide invoice factoring and accounts receivable financing to their small and medium-sized business customers. 50%. 1. You can generally expect a factoring advance rate of 80-90% of your invoice’s face value and receive the cash advance between 24 and 48 hours after submission to altLINE. altLINE Advances Up To 80-90% Of The Invoice Face Value. FactorSoft is the new invoice factoring platform that altLINE upgraded to on 10/31/22. Record the factoring fee and the estimated bad debts as a debit loss. If you don’t qualify for altLINE’s invoice. altLINE is a part of The Southern Bank Company. What makes us different? Rates from 0. 50%. altLINE is an invoice factoring and A/R financing platform that’s backed by The Southern Bank Company. The Washington Policy Center, a think tank focused on the free market, blames state policies, from local taxes to rules and mandates. 5% per month) 2% per 45 days, 0. Show More. Get Started. The quote request is a simple, straightforward, easy process that can be completed in a few minutes. Factoring with altLINE gets you the working capital you need to keep growing your business. Florida. Therefore, if a customer you have invoiced does not pay the invoice that the factor has bought from you, for any reason, then your company is responsible for paying the factor. The remaining 10-20% is held in reserve. Businesses with larger transaction volumes and larger borrowing needs require custom. Factoring with altLINE gets you the working capital you need to keep growing your business. Why We Chose It. Jim is the General Manager of altLINE by The Southern Bank. Asset-based lending (ABL) is the process of borrowing money that is secured by an asset, or collateral. This lender requires that you are able to factor at least $15,000 per month. This means that if the buyer pays the invoice within 10 days of receiving it, they will receive a 1% discount. Raleigh has seen incredible growth over the past 15 years. To take on new orders / clients. With more than 85 years of experience serving customers, we provide you with the best client services, assigning you a dedicated account manager. There are three types of invoice financing products: invoice factoring, a/r backed lines of credit, and non-traditional invoice. Factoring turns those invoices into cash, allowing businesses to grow. Companies use the cash they receive from factoring for a variety of reasons, including: To make payroll. Invoice Factoring altLINE Advances Up To 80-90% Of The Invoice Face Value. Pros & Cons. In today’s environment, buyers continue to stretch their suppliers’ payment terms, causing many small businesses in South Carolina to seek out alternative forms of financing. The fees are modest. Fast Approval. Resources. Launched in 2011 and headquartered in Birmingham, altLINE is committed to providing small and midsized businesses a bank-backed factoring solution that prioritizes transparency, dependability, and customer service. altLINE is a direct bank lender and a division of The Southern Bank Company, a community bank originally. Angela joined altLINE in 2022 after several years of working in digital marketing across various industries including financial services and B2B. box. Includes info on AltLine, free trials, pricing and FAQs. Get a Quote. When I was unable to make payroll and could not get a bank loan, I started looking for an invoice factoring partner. Having established a strong. This is where an alternative financing method such as invoice factoring can help. Instead, altLINE focuses on your invoices and payment due dates as part of the approval process. Breakout Capital – Most flexible invoice factoring company. Advances up to 90%. Get Started. Plus, clients can factor invoices in high volumes and get an advance rate of up to 90%! Based on the customer reviews, altLINE’s customer service is top-notch. With traditional factoring, A/R financing and asset based. You can generally expect a factoring advance rate of 80-90% of the total invoice value, and you will receive the cash advance between 24 and 48 hours after submission to altLINE. It tops our list of invoice factoring companies because you can factor high volumes of invoices and receive an advance rate of up to 90%. The factor. Aside from factoring, altLINE also offers some of the best financial solutions for your business such as accounts receivable financing and asset-based lending. 100% Transparency. What makes us different? Rates from 0. altLINE is a direct bank lender and a division of The Southern Bank Company, a community bank originally. You can generally expect a factoring advance rate of 80-90% of every invoice’s face value and receive the cash advance between 24 and 48 hours of submission to altLINE. 100% Transparency. They offer easy approval, low rates, transparency, and are FDIC-insured. altLINE offers competitive rates and can take advantage of not. The Southern Bank Company, a full-service bank based out of Gadsden, AL is pleased to announce that 2017 will be its 80th anniversary. Our team also has more than 80 years of experience serving customers, and we have an A+ rating by the Better Business Bureau. Call us at +1 (205) 607-0811. altLINE will factor up to $4 million in monthly. The company has grown from no revenue to $500,000 month in billings in the. com and more. Factor rates are typically between 1. Jim is the General Manager of altLINE by The Southern Bank. altLINE is a top-rated factoring company that doubles as a bank, so you can receive lower rates and greater transparency during the factoring process. AltLine Factoring. Even if you’re a telecom business owner or contractor who serves a different industry than listed above, a factor like altLINE may still be open to working with you. Back. The NOA arrives in the mail in the format of a letter, as the initial communication notifying your customers of the change in structure and process. altLINE partners with lenders nationwide to provide invoice factoring and accounts receivable financing to their small and medium-sized business customers. Resources. altLINE is a direct bank lender and a division of The Southern Bank Company, a community bank originally. Resources. Specialty lenders often use the terms Accounts Receivable Financing and Factoring interchangeably. You can generally expect a factoring advance rate of 80-90% of the total invoice value, and you will receive the cash advance between 24 and 48 hours after submission to altLINE. 957 M Minimum Rate Percentage: 0. Benefits of Invoice Factoring. altLINE specializes in alternative lending – focusing solely on deals that fall outside of the traditional credit box – making the program an ideal secondary option for borrowers that don’t qualify for a line of credit. Resourcing: If you have a smaller business and limited resources. The exact timing of your cash advance deposit usually depends on your customer’s receipt and acknowledgment of goods. altLINE Advances 80-90% Of The Invoice Face Value. September 28, 2023 / by Jim Pendergast. altLINE is a direct bank lender and a division of The Southern Bank Company, a community bank originally founded in 1936. BlueVine (United States), altLINE (United States), Triumph Business Capital (United States), RTS Financial (United States), eCapital Corp. Tom’s Trucking is a refrigerated freight company that uses altLINE to factor its invoices. altLINE works with all business types, including startups and companies with poor or limited credit. Jim is the General Manager of altLINE by The Southern Bank. Although they work primarily with staffing and consulting firms, altLINE can also provide financing to businesses in the manufacturing and distribution sectors, as well as government contractors. #5. On average, however, they fund customers about $500,000 per month. Why factor with altLINE in Florida? Accounts Receivable Financing, or Factoring, is a quick, effective means of infusing your business with cash. Pros:Jim is the General Manager of altLINE by The Southern Bank. Invoice factoring is a solution that turns those invoices into cash immediately. 4%. Their understanding of my industry has facilitated a seamless and efficient funding process. Accounts receivable financing, also called accounts receivable factoring, is the process of financing outstanding invoices in order to access the cash value sooner. We provide smart,Invoice automation software is the key that unlocks automated invoice processing. Power services. Get Started. Grey was previously the Director of Marketing for altLINE by The Southern Bank. The total will be equal to 80% of $4,000 which is $3,200 ($4,000 x 80%). The payor on an invoice is the person or party paying. altLINE partners with lenders nationwide to provide invoice factoring and accounts receivable financing to their small and medium-sized business customers. ZERO Hidden Fees. According to the Transportation Statistics Annual Report, trucks transport 73% of total freight value and 67% of total freight weight. altLINE has been in the factoring industry for more than 80 years. When you sell your invoices to the factor, it submits a notice of assignment and then. Our team moves quickly so that you can get the cash you need to keep growing your business. You would create a sales order for $4,000 and record it as an open sales order. altLINE partners with lenders nationwide to provide invoice factoring and accounts receivable financing to their small and medium-sized business customers. altLINE is a direct bank lender and a division of The Southern Bank Company, a community bank originally. 3. With more than 85 years of experience serving customers, we provide you with the best client services, assigning you a dedicated account manager to handle all of your factoring needs. Business Credit Card (s) – Share of companies using this funding source: 7. Complexity. Back. Accountants and Advisors Rely on altLINE. Invoice factoring is a form of alternative financing that converts your outstanding invoices into cash by selling them to a third party, or factoring company, in exchange for a cash advance. If you think invoice factoring might improve your working capital, call one of our representatives at +1 (205) 607-0811 or fill out our factoring quote form . Invoice Factoring. We provide smart,You can apply for invoice factoring from altLINE online—qualified businesses can receive funding in as little as 48 hours. The Southern Bank meets. Number of employees: 31. Factors then make money from outstanding invoice. These fees can range greatly from 0% to 3% of the credit line amount. The exact timing of your cash advance deposit usually depends on the date of your client’s receipt and job completion. The bank has branch locations in Gadsden, Guntersville, Albertville and Centre, with a specialty commercial lending division, altLINE, operating out of Birmingham. Jim is the General Manager of altLINE by The Southern Bank. With 10 years’ experience in digital marketing, content creation and small business operations, he helped businesses find the information they needed to make informed decisions about invoice factoring and A/R financing. Lower Rates. altLine can factor up to 90% of $4,000,000 worth of invoices each month. Once you determine which and how much of your receivable you’re going to factor, the factoring company provides an immediate cash advance, usually worth between 80% and 90% of the invoice value. AltLINE - Invoice Factoring. altLINE is a direct bank lender and a division of The Southern Bank Company, a community bank originally. 8 Pay Slowly. It has factored more than $800 million in invoices and has been operating since 1936. altLINE Advances 80-90% Of The Invoice Face Value. Grey was previously the Director of Marketing for altLINE by The Southern Bank. User-friendly online management: altLINE’s user-friendly online platform streamlines the factoring process, providing convenient access and management capabilities for business owners. They don’t bill you for an origination fee but do charge an extra 1% for expedited funding. First, a factoring company such as altLINE will fund a cash advance of 80-90% of the outstanding invoice. Call the altLINE Factoring Hotline. What makes us different? Rates from 0. altLINE would be the greatest answer for a small company with a high-quality and quick-paying. With 10 years’ experience in digital marketing, content creation and small business operations, he helped businesses find the information they needed to make informed decisions about invoice factoring and A/R financing. Get Your Free Factoring Quote. For Bankers For Financial Advisors . 5. This works in 4 short steps. 100% Transparency. Power services. altLINE is a direct bank lender and a division of The Southern Bank Company, a community bank originally. 100% Transparency. Invoice discounting companies offer loans of up to 95% of the total invoice value so that businesses can get the cash within a few days instead of waiting weeks. Thus, invoice factoring is an ideal financing solution for a business not wanting to wait 30,60 or 90 days for their receivables to roll in. One of the best-known invoice factoring companies, BlueVine charges a low weekly fee for the time an invoice is outstanding. Updated on September 21st, 2023. altLINE partners with lenders nationwide to provide invoice factoring and accounts receivable financing to their small and medium-sized business customers. What makes us different? Rates from 0. Overall, altLINE works primarily with staffing and consulting firms, but they also fund businesses in the manufacturing and distribution industries, as well as government contractors. Entrepreneurship is booming and the concentration of top. Factoring with altLINE gets you the working capital you need to keep growing your business. Once Tom’s Trucking submits its $75,000 invoice for factoring, altLINE advances the company 95% of the invoice value ($71,250). Asset-based loans or lines of credit can be borrowed against equipment, property, inventory or receivables (in the form of an invoice factoring service ). Invoice Factoring. altLINE A/R Financing . With 10 years’ experience in digital marketing, content creation and small business operations, he helped businesses find the information they needed to make informed decisions about invoice factoring and A/R financing. 3%. Importantly, lending in 2022 was still about 14% above 2020, showing that at least some of the growth continued. Angela loves creating content that helps readers better understand their financing options and helps them make informed decisions about factoring. For them, invoice factoring is a fast and easy working capital solution that turns outstanding invoices into cash when New Orleans businesses need it most. altLINE. altLINE is a direct bank lender and a division of The Southern Bank Company, a community bank originally. Once you submit your quote request, a representative will be in touch with you immediately. Give altLINE A Try . As a bank, AltLINE provides direct funding, eliminating the need for intermediaries and reducing borrowing costs. With 10 years’ experience in digital marketing, content creation and small business operations, he helped businesses find the information they needed to make informed decisions about invoice factoring and A/R financing. Log In to FactorSoft. Financing Cash Flow. 5 Charge a Late Payment Fee. Unpaid invoices hinder the day-to-day operations of small businesses that need capital to improve cash flow as only about 6% of invoices are paid within 30 days. Average AR Financing Fees. Click calculate. Many businesses have slow-paying customers and long payment terms, anywhere from 30-90 days, resulting in cash flow problems. I found that altLINE had better reviews, was more responsive and more up front than the other providers I spoke with. Here at altLINE, we make brokers’ lives easier by offering speed, flexibility, and a competitively priced offering that gets deals done, and we do so while offering a competitive commission structure that compensates your for your. For most factoring companies, lockboxes play a vital role in this process. Eligibility:Companies qualify for factoring through altLINE based on their gross monthly sales minimum and other requirements. altLINE Advances 80-90% Of The Invoice Face Value. Maximum Account Receivable: $4 million. Advances up to 90%. I found that altLINE had better reviews, was more responsive and more up front than the other providers I spoke with. 1. Operating within an FDIC insured and state regulated bank, altLINE provides customers the flexibility of an independent financing company with the cost advantages and service. It also reaches a maximum of 3%, which is lower than the standard maximum of 5% for the first 30 days. Note that factoring is an alternative lending option, which you can actually qualify for even with poor credit.