It is very common for accountants, bookkeepers and auditors to experience extreme fluctuations in demand for their services, which can make financial planning and cashflow difficult. Although you spend your time working with numbers, it doesn’t guarantee that your own finances will be balanced.
To help you find the ideal financial solution for your accountancy practice, we have produced this useful guide to cover the various accountant business loan options and how they work. Whether you are looking for a fixed term chartered accountant business loan or a loan to buy an accounting practice, we have a variety of lenders who suit your requirements.
There are many businesses which require a financial boost at some point and accountancy firms are no exception. It is very common for accountant loans to be used for short-term reasons to pay for additional staff during a busy period, or to improve cash-flow during the quieter months. In addition, many professional accountancy firms use business loans to assist with practice acquisitions, partner buy-outs and partner buy-ins to ensure continuity of the business.
An accountancy loan can also be used to reduce fluctuations in demand by investing in marketing campaigns for the quieter periods. By attracting new clients throughout the year, it will be easier to manage the workload and could also provide a more regular and sustained cash flow. A loan will mean you do not need to spend your working capital, instead it will free up cash flow to give you the financial freedom to make the improvements your business needs to grow.
Alternatively, perhaps you are a qualified accountant working within a firm and are looking to branch out on your own. Raising the finance required to start your own firm can be difficult, but there are loans available based on your own experience levels and financial situation which could make your dreams a reality.
Here at Business Comparison we specialise in providing businesses such as accountants with competitive and flexible loans. We have access to a variety of accountant business loan options, from short-term unsecured loans to invoice finance and merchant cash advances.
By partnering with everything from high street banks to alternative lenders, we can help you find a manageable loan with a high chance of acceptance. Whether you are looking to borrow £1,000 or £20,000,00 we can put you in touch with ideal lender.
Our useful loan comparison tool is designed to help you find the best business loan for your specific requirements. Simply enter details such as the amount you are looking to borrow, your annual turnover and how long you need to repay the loan. Our system will then search through our panel of lenders and their accountant business loans to compare the best deals for you.
The interest rate, fees and repayment terms will largely depend on the amount you are looking to borrow, your financial situation and the firms credit rating. In most situations if your business represents a low risk to the lender, you will benefit from a low interest rate.
If you would like to discuss an accountant business loan in more detail, please contact our knowledgeable team.