Can an accounting firm get funded during a slow revenue period?
Yes. We evaluate your annual average revenue, not just your current month. Accounting firms with strong tax season revenue frequently qualify for funding in off-season months when their bank account shows lower activity. We look at 3–6 months of average deposits to assess your true annual capacity.
Do I need to pledge client contracts or receivables as collateral?
No. Our programs for accounting firms are unsecured — we do not require client contract pledges, accounts receivable assignments, or any specific professional assets. The approval is based on your business revenue history and cash flow.
Can a CPA firm use funding to buy out a departing partner?
Yes. Partner buyout financing is one of the most common uses of professional practice capital. We can structure a term loan for established firms to acquire a departing partner's equity interest and stabilize ownership continuity.
What is the impact on my firm's financial statements?
Working capital loans appear as short-term debt on your balance sheet. Revenue-based financing may be structured as either debt or as an advance purchase of future revenue depending on the specific product. Consult your own accountant — who may appreciate the irony — about the specific treatment for your situation.
Can I get funding to upgrade my accounting software (QuickBooks, Thomson Reuters, CCH)?
Yes. Software subscriptions, licenses, and implementation costs qualify as business operating expenses that working capital loans can cover. For larger multi-year software investments, equipment financing may be appropriate even for software if the contract qualifies as a capital lease.
How fast can an accounting firm receive funding?
Qualified accounting firms receive same-day to 48-hour funding for working capital programs. Larger term loans may require 3–5 business days for underwriting review.
Can a sole practitioner CPA get funded?
Yes. Solo CPA practices with $20,000+ in average monthly revenue qualify for the same programs as multi-partner firms. The application is individual rather than entity-based in these cases, though we still evaluate business bank deposits.
Is there a restriction on using funds for client trust account purposes?
Yes. Business capital must not be commingled with client trust funds (IOLTA accounts). This would violate professional ethics rules. Funding is for firm operating expenses only — not for any client-related purposes.
What minimum credit score does my CPA firm need?
We work with accounting firm principals starting at 500 FICO. Scores of 620+ access the most competitive rates. Strong average revenue can offset lower personal credit scores for smaller advances.
Can I use funding to expand from tax-only to full advisory services?
Yes. Business development, advisory service buildout, technology investments, and hiring for advisory practices are all fully eligible uses of working capital for accounting firms. This is one of the highest-ROI growth investments in professional services today.