Get Startup Business Funding to Grow Your Company
As a startup, finding funding to grow your company can be a frustrating process. Here at altLINE, we understand the unique struggles that new businesses face, and we can help you get the cash you need to achieve your growth goals.
Keep Full Ownership
No Need to Sell Equity to Get Financing
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.
- No Equity Required
- Fast Approval
- No Minimum Credit Score
- Quick Funding (24-48 Hours)
- Scalable Financing
Expanding without Limits
Shift from Self-Financing and Experience Business Expansion
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.
“Our experience working with The Southern Bank has been incredible!”
No Credit History? No Problem.
It can be frustrating to find out you do not have the necessary credit history to qualify for funding, because it takes time to build an established credit profile. But when you finance with altLINE, you don’t have to worry about your credit score. altLINE’s approval process focuses on your debtors’ credit profiles than your own, meaning you can qualify for financing much easier than you would for traditional financing options.
NO MINIMUM CREDIT SCORE
Easy
Qualification
Quick Access
to Cash
Streamline Your Operations
Focus More on Growing Your Business and Less on Administrative Tasks
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.
Why Work with altLINE?
Discover What Makes altLINE Unique
FDIC-Regulated
Lender
Transparent Rates
WORK WITH A Dedicated Account
Manager
Smooth Customer
Onboarding
Complimentary
Customer Vetting
Same Day Funding
Available
Client Success Story
See How altLINE Helped a Client Grow 1000%
Frequently Asked
Startup Funding FAQs
How do startup businesses get funding?
Startups can get funding in a variety of ways, including through friends and family, venture capital, SBA loans, micro-loans, 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.
How can altLINE help my startup get 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.
How is invoice factoring different from a loan or bank line of credit?
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.
Do I have to give up equity with invoice factoring?
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.
How can I use the startup business funding that I get from altLINE?
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.
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Explore More
Startup Funding Resources
Explore Loan-Free Funding for Your Startup
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.
Fuel Growth with Invoice Factoring for Startups
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.
