Accountants & Auditors
Navigate the peaks and valleys of your profession with ease. Our customized financing solutions help you prepare for busy seasons and sustain operations during slower times.
Small Business Loan Options for Accountants, Auditors & CPAs
Accountants, auditors, and bookkeepers often encounter significant seasonality in their business cycles. During tax season, the demand for their services skyrockets, requiring them to manage an overwhelming workload. However, this surge in demand sharply declines during other times of the year, creating a unique set of financial challenges.
When business peaks, the usual resources may not suffice. Many accountants need to hire additional staff during tax season to handle the increased workload efficiently. Without extra help, accountants may find themselves working over 80 hours a week, risking errors due to exhaustion. However, hiring qualified employees poses its own challenges. Accountants must invest time in training new hires and offer competitive salaries to attract top talent, which can strain their finances further.
The situation is compounded by the pressure of mandatory, non-negotiable deadlines. Accountants must be ready for demand spikes at specific dates to complete their work quickly and accurately. Failure to meet these deadlines can result in fines for their clients, adding to the stress. Conversely, during slower periods, an otherwise successful firm might struggle to maintain operations. To ensure a strong busy season, accountants need to invest in attracting new business several months in advance, which requires additional capital.
Furthermore, the cyclical nature of the industry means that accountants must be strategic about managing cash flow. They need to plan for both the high-demand periods and the slower times, ensuring they have sufficient funds to cover operating expenses year-round.
60Day Capital understands the unique financial challenges faced by accountants, auditors, and bookkeepers. We have extensive experience in facilitating Small Business Loans tailored to this sector. Our range of business lending products includes options that can help manage cash flow, cover payroll during peak times, and invest in business development for future growth.
We Know All the Routes to Take to Get You the Best Business Loan
60Day Capital 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.
We’re Here When You Need Us
Many 60Day Capital 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 60Day Capital 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!
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