The Southern Bank Company

400 Office Park Drive, Birmingham, AL
The Southern Bank Company is an Alabama factoring company.
Jim Pendergast of The Southern Bank Company
Jim Pendergast
VP Business Development
205-983-6275

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:

Collection services:
Yes
Credit services:
Yes
24 hour funding:
Yes
Non-recourse factoring:
No
Online reporting:
Yes
Invoice software integration:
Yes

Terms of Service

Contract length:
Standard contract is 12 months.
Application and start-up fees:
No application fee.
Monthly minimum:
Depends on the contract.
Factor all invoices:
No
Reserve availability:
Daily, upon request.
Cancellation fee:
Depends on the contract.
Additional fees:
Wire fee, lockbox fee.

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:
Accounts Receivable Financing, Asset Based Lending, Traditional Bank Financing
400 Office Park Drive, Birmingham, AL

Invoice Factoring Is Quick & Easy

Send your invoices to your factoring company.

Your factoring company buys your invoices and sends you 75% to 90% of the invoice amount within 24 to 48 hours.

Your factoring company collects the invoices from your customer and sends you the final payment.