It may feel like selling business equity is the only way to get the startup funding you need for your growing business, but giving up even a small percentage of equity can result in you dolling out your hard-earned profits to investors.
With altLINE’s startup business funding solutions, you can receive scalable financing without giving up any equity or taking on debt. Accelerating your business growth will feel easier than ever, and you can keep full control of your company while doing it.
Self-financing your business is an excellent way to get it off the ground, but you’ll likely need to work with a financing partner down the road to accelerate business growth. By working with a startup funding provider like altLINE, you can access more capital, allowing you to hire more employees, expand operations, and fund new contracts.
When applying for business financing, it can be frustrating to find out you do not have the necessary credit history to qualify for funding. It takes time to build an established credit profile, but when you finance with altLINE, you don’t have to wait. altLINE’s alternative financing approval process focuses more on your customers’ credit profiles than your own, meaning you can qualify for financing much easier than you would for traditional financing options.
As a startup business owner, your list of projects can seem endless. From finding new clients to collecting outstanding invoices to marketing your business, the responsibilities as an entrepreneur never end.
As a part of altLINE’s invoice factoring program, you will work with a dedicated account manager who will help you with your back office tasks, including aiding in invoice verification, invoice collection, and new customer credit checks. With this extra support from the altLINE team, you’ll have more time to focus on managing and growing your business.
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 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 startup funding. If you have a question that is not covered here, feel free to call one of our representatives at +1 (205) 607-0811.
Startups can get funding in a variety of ways, including through friends and family, venture capital, SBA loans, microloans, alternative financing, and personal savings.
Startup businesses tend to have more difficulty getting approved for financing because of their limited credit history, but there are still several options available that cater to new and growing businesses. For example, invoice factoring (a type of alternative lending that altLINE offers) is an excellent form of startup funding because lenders tend to put more emphasis on a startup’s customers’ credit profiles than the credit history of the startup itself, making it a very approachable type of financing.
altLINE offers a type of financing called invoice factoring. With invoice factoring, a client sells their unpaid invoices to a factoring company in exchange for a cash advance. Factoring has several advantages, many of which are particularly beneficial to small businesses and startups.
First and foremost, factoring is much easier to qualify for than traditional bank loans or lines of credit, which often requires significant business credit history and collateral. The only collateral used in factoring are your outstanding invoices. Plus, factors will look more closely at your customers’ credit histories than your own. Therefore, bad business credit won’t necessarily restrict you from qualifying.
Cash is accessed quickly when factoring, typically within 24 hours (or 1 full business day) of when you submit your unpaid customer invoices to altLINE. This cash advance allows startups to make payroll, increase marketing efforts, purchase more inventory, and ultimately build toward expansion.
Overall, it’s the cash flow boost that is most universally appreciated by businesses that factor their invoices. Rather than waiting on customers to fulfill long payment terms, which can lead to cash flow problems, you will find that your cash conversion cycle can be greatly improved through factoring.
Business loans and bank lines of credit tend to be more difficult to qualify for than invoice factoring. The approval process for the former lending options typically put more emphasis on your creditworthiness, while invoice factoring companies put more stock into your customers’ creditworthiness. Because of this, invoice factoring is better suited for startup companies, while loans and bank lines of credit are better for well-established businesses.
You do not need to give up equity when you factor your invoices, which is one of the many benefits of this type of financing. With invoice factoring, you receive a cash advance by selling your unpaid invoices, meaning you fund your business while keeping ownership and avoiding taking on debt.
The financing you receive from factoring your invoices with altLINE can be used to cover a variety of expenses. You can use the working capital to purchase new inventory or raw materials, pay your vendors, hire more staff, cover payroll, fund new contracts, bolster your marketing efforts, and scale your operations.
There are many ways to fund your startup business without a loan. Click through to see your alternatives and choose the best financing method for your business.
Invoice factoring is an alternative financing option that can help businesses fund growth, and it is an excellent option for new businesses that lack credit history.
