The Southern Bank Company is an Alabama factoring company.

The Southern Bank Company

The Southern Bank Company is a national specialty lender in Birmingham, Alabama. In addition to conventional products and services, The Southern Bank’s specialty lending group altLINE provides working capital to clients with traditionally “non-bankable” credit profiles.

altLINE provides customers the flexibility of an independent financing company with the cost advantages and service people expect from a community bank. While each financing package is unique, our focus is small businesses with annual revenues between $1,000,000 to $25,000,000.

The Southern Bank provides these invoice factoring benefits:

  • Receivables management
  • Same day funding
  • No hidden fees
  • No monthly minimums

As your partner, we consider ourselves an extension of your business. Responsive and professional, our team is ready to support your company’s goals by providing credit verifications, monitoring receivables and collections, and helping strengthen back office operations.

Industries Served:

Featured Services:

24 Hour Funding:
Yes
Collection Services:
Yes
Credit Services:
Yes
Digital Invoice Processing:
Yes
Online Reporting:
Yes
Non-recourse Factoring:
No

Terms of Service:

Application and Start-up Fees:
No application fee.
Contract Length:
Standard contract is 12 months.
Cancellation Fee:
Depends on the contract.
Monthly Minimum:
Depends on the contract.
Factor All Invoices:
No
Reserve Availability:
Daily, upon request.
Additional Fees:
Wire fee, lockbox fee.
Jim Pendergast of The Southern Bank Company
Jim Pendergast
VP Business Development
205-983-6275

General Information:

Year Founded:
1936
No. Employees:
11-50
Associations:
CFA, IFA, American Staffing Association
Address:
400 Office Park Drive, Birmingham, AL
Other Office Locations:
4 bank branches across NE Alabama

Financial Information:

Minimum Credit Facility ($):
50,000
Maximum Credit Facility ($):
5,000,000
Advance Rate (%):
80-90%
Other Types of Financing:
Invoice factoring, Accounts Receivable Financing, Asset Based Lending, Traditional Bank Financing
400 Office Park Drive, Birmingham, AL