Accountants, auditors, and bookkeepers experience extreme seasonality. Demand for their services is borderline insuperable during tax season but drops immensely on the opposite side of the year.
So, when it gets busy, the usual resources do not suffice. Many accountants increase staff during tax time to handle the massive workload. Without more help, an accountant could easily be forced to work over 80 hours a week and risk careless mistakes due to exhaustion. But they can’t just hire anybody. Finding qualified employees has long been one of the top challenges for accountants, who must take the time to train new hires and offer competitive salaries.
Making their work even more stressful are mandatory, non-negotiable deadlines. Accountants must be ready for surges in demand at fairly specific dates to quickly get their upcoming work done. If they fail to do so, their clients could face fines. On the other hand, when business is slow, an otherwise successful firm might struggle to keep its lights on. But you can’t expect a strong, busy season if you do not invest in attracting more business several months beforehand.
United Capital Source has many years of experience facilitating Small Business Loans for Accountants, Auditors, and Bookkeepers. We have access to all types of business lending products. Contact us today for your FREE business funding consultation!
United Capital Source has access to multiple types of small business loans for accountants and auditors looking to prepare for the busy season and/or stay above water in the slow season.
Most clients of accounting firms pay via debit or credit card, which makes them perfect candidates for a merchant cash advance. This type of working capital loan is particularly advantageous for seasonal businesses. Your amount is based on the revenue you are expected to generate from debit and credit cards, which should be easy to calculate since accountants usually know how much business they will do before it comes their way.
Payments are tied directly to debit and credit card transactions, so when business is slow, payments are lower. The majority of the balance is paid off when business is booming. And in the case of accountants, that boom is big indeed. It might not occur for many months, but with a merchant cash advance, a small payment does not increase interest rates or force you to make a much larger payment the month after.
Many UCS clients take out business loans against credit card sales during the slow season to begin preparing for the busy season. They use the lump sum to cover business expenses and the extra time on their hands to find new ways to increase business. By the time the busy season rolls around, those new initiatives should be producing results. And since payments are automatically deducted whenever transactions are performed, borrowers don’t have to worry about making payments. Accountants are far too occupied with their work to be burdened by missed payments or the tedious paperwork associated with traditional business loans.
While virtually all small business loans through United Capital Source can be accessed very quickly, no approval process is more seamless than a merchant cash advance. Funding can be distributed in a matter of days, even if your cash flow situation isn’t exactly perfect at the time of your application. You tell us when you need the money, and we can make it happen. Apply now to see how much you qualify for!
|LOAN TYPES||MAX AMOUNTS||RATES||SPEED|
|Merchant Cash Advances||$5k – $1m||Starting at 1-6% p/mo||1-2 business days|
|SBA Loan||$50k-$5.5m||Starting at Prime + 2.75%||8-12 weeks|
|Business Term Loan||$10k to $5m||Starting at 1-4% p/mo||1-3 business days|
|Business Line of Credit||$1k to $1m||Starting at 1% p/mo||1-3 business days|
|Receivables/Invoice Financing||$10k-$10m||Starting at 1% p/mo||1-2 weeks|
|Equipment Financing||Up to $5m per piece||Starting at 3.5% (SBA)||3-10+ business days|
|Revenue Based Business Loans||$5K – $1m||Starting at 1-6% p/mo||1-2 business days|