For a business owner with poor credit or a bankruptcy under their belt, it can be difficult to find a lender willing to work with you. Even if you have decent credit, banks may choose not to extend financing to you due to inconsistent earnings or large fluctuations in profitability.
That’s where altLINE comes in. We work with business owners just like you to access the funding they may not be able to acquire otherwise. We do this by putting a greater emphasis on your customers’ credit histories than your own, meaning as long as you work with creditworthy customers, you’re much more likely to qualify for funding with altLINE.
When you have poor credit history or past bankruptcies, it can be difficult to find reliable and accessible business financing. Traditional lenders often scrutinize your credit history, while short-term and ACH lenders charge high fees that can create unnecessary financial strain.
altLINE’s business financing program provides fast and flexible funding without adding debt to your balance sheet. With rates starting at 0.50% and cash advances up to 90%, we help you feel more secure in financing and growing your business. We value transparency and building long-term relationships with our clients, so we make sure you have a clear understanding of our fees and financing process up-front, empowering you to make more confident decisions as you scale.
There’s no need to let past financial challenges hold your business back. Here at altLINE, we believe every business deserves the opportunity to succeed, regardless of financial setbacks, and that’s why we’re dedicated to providing accessible financing solutions that can propel your business forward.
With a business funding partner like altLINE, you’ll have the resources you need to fuel expansion, hire additional staff, invest in inventory, and take on new business opportunities. Additionally, our financing options seamlessly grow with your company, so our team will always be ready to help you confidently reach your next milestone.
As a bank factoring provider, we are federally regulated, meaning you will receive a more secure and transparent customer experience.
With a direct source of funds through our bank, altLINE can offer lower rates and no hidden fees, helping you factor more confidently.
Our team has decades of experience working with small and medium-sized businesses, so you can rest assured that your company is in good hands.
Our team of experts will work with you to create a custom and effective financing solution that fits your unique business needs and challenges.
You will receive a dedicated account manager who will help you manage your back office tasks, including collecting invoice payments.
Have a tight turnaround and need funding quickly? We have same day funding options that allow you to stress less when you need to make payments.
altLINE is highly rated by sites like Investopedia, FitSmallBusienss, and Fundera. Plus, we have an A+ rating by the BBB and nearly 5 stars on Trustpilot.
Our team of experts will perform credit checks on your customers, so you can feel more confident extending terms to your clients.
With a dedicated onboarding specialist, we make it easy for both you and your customers to transition into the new factoring process.
Wellman’s Staffing dealt with customers that would not pay on-time, leading to the company owner stressing and struggling to make payroll. After bringing altLINE onboard as a financing partner, Wellman’s Staffing felt more confident managing business operations, not just because of the cash flow boost but because of the additional benefits altLINE provided.
Get answers to some of your top questions related to funding for businesses with bad credit. If you have a question that is not covered here, feel free to call one of our representatives at +1 (205) 607-0811.
Yes! Here at altLINE, we offer invoice factoring, which is a common solution for business owners searching for funding despite bad credit.
Your eligibility for factoring isn’t solely reliant on your business’s credit history. Instead, factoring companies put a greater emphasis on your customers’ credit histories. This is what makes factoring such a popular financing method for first-time small business owners who otherwise wouldn’t be able to qualify for a traditional bank loan or line of credit.
If you’ve dealt with a personal bankruptcy, it may be challenging to qualify for traditional financing. Many lenders will check your personal credit history when determining eligibility for certain loans and financing options, particularly if you are running a new business and have a lack of business credit history.
However, there are alternative lending options that you can qualify for despite a personal bankruptcy. Some examples of financing for people with a bankruptcy under their belts include invoice factoring, ACH loans, accounts receivable financing, and asset-based loans.
While invoice factoring does not have a direct impact on your credit score, it can be an excellent tool to help you build your business credit. Because invoice factoring provides the working capital you may have otherwise received from a loan, you can limit your debt and loan applications, which can improve your credit score. Additionally, you’ll have more cash available to make timely vendor and supplier payments, reducing your overall late payments and potential negative impact to your credit.
Factoring companies look closer at your customers’ creditworthiness rather than your own because once you sell your unpaid invoices to the factoring company, they rely on your customers to pay. Therefore, a factoring company needs to know that your customers are reliable enough to make timely payments.
Remember, factoring is not a loan. The factoring company is not relying on your business to pay anything back. If your business has poor credit history or a lack of creditworthiness entirely, that doesn’t make much of a difference to a factoring company like altLINE as long as your customers pay their invoices.
As a new business owner or a business with bad credit, it can be difficult to qualify for small business loans, making it challenging to scale your company. However, there are business loan and financing options available for those with poor or no credit.
Factoring is an alternative financing solution for business owners who are working on building business credit or improving from a low score. Learn how invoice factoring impacts your credit score and how it can support business growth.
