Waiting for your customers to pay their invoices can be stressful. While you wait for them to submit payment, you have your own expenses to pay. Financing with altLINE allows you to worry less about how you’re going to pay your employees or vendors on-time, giving you more flexibility to run your business how your want.
Chasing down unpaid and late invoice payments can be time-consuming, forcing you to spend more time calling and emailing customers, rather than growing your business. In fact, one report found that 65% of businesses said they spent an average of 14 hours per week collecting invoice payments.
When you finance with altLINE, you will receive back office support from your dedicated account manager, who will help you follow-up on and collect payments, giving you more time to focus on what really matters for your business.
Rather than waiting for your customers to pay their invoices to access working capital for your business, factoring with altLINE lets you get cash almost immediately. Through invoice factoring, you can receive a cash advance of up to 90% of the invoice value that you can use to pay down expenses, make payroll, and fund business expansion, all while you wait for your customer to pay.
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.
OneStop Recruiting experienced consistent cash flow issues, even after becoming a $1 million company in 2016. To accelerate growth and improve their accounts receivable process, they turned to altLINE.
Get answers to some of your top questions related to slow-paying customers and delayed payments that impact your business. If you have a question that is not covered here, feel free to call one of our representatives at +1 (205) 607-0811.
If you are struggling with slow-paying customers, there are a few things you can do to mitigate damage to your business. Firstly, you can shorten the credit terms that you offer your customers (such as moving them from net 60 to net 15). Doing so will encourage them to pay sooner, putting cash in your bank account more quickly. If you are struggling with customers that consistently pay late, automating your invoicing process can make it easier to send them reminders to pay; however, if this is a frequent problem, you will likely still have to dedicate time to following up with these customers via phone call. If slow payment is affecting your business financially, you can get funding that aims to improve your short-term working capital, such as a cash flow loan or invoice factoring.
There are a few solutions that help reduce the time it takes to get paid if you have slow-paying customers. Invoice factoring, ACH loans, and working capital loans are all short-term financing solutions that can help you access additional cash to support your business if your clients take a while to pay. Additionally, you can apply for a line of credit, which allows you to borrow from a credit facility and pay it off, similar to a credit card.
If your customer is consistent and reliable, it is likely that an invoice factoring company will work with them. However, if your customer regularly makes late payments or has poor credit, there’s a chance that the lender will choose to not factor that particular customer’s invoices.
Collecting invoice payments can be a tedious and frustrating process, and letting invoices go past due can create financial turmoil for your business. To help you get paid more quickly, we’ve put together a list of 11 tips.
Drafting a past due invoice email can certainly be awkward, but it’s a necessary action to collect invoice payments. We’ve put together 4 email templates that you can use to politely ask for payment.
