Table of Contents
Maximizing Growth: Using Business Loans to Scale Your Accounting Firm
What’s the first thing that comes to mind when we say an accountant’s office? We might imagine a small room with a single chair and a table riddled with files and a desktop computer running on 90s OS. But an accountant knows how far this image is from the truth. A lot goes into starting and managing an accounting firm. In this case, a business loan will help accountants realize their vision of expansions and upgrades. Here’s how a business loan will benefit accountants in scaling their firms.
New Accountants
Fresh out of college accountants with a vision to open their own accounting firms are the best candidates for a business loan. A qualified accountant has to cross a gauntlet of certifications and registrations to begin their practice. A qualified accountant must obtain a PPC (professional practice certificate), must complete a public practice program, register your business with Australian Securities and Investments Commission (ASIC), obtain Australian Business Number (ABN), Tax File Number (TFN), and so much more.
On top of that, if you’re starting your own firm, the startup costs may skyrocket which includes office cost, equipment, software, marketing, and other expenses, not to mention business insurance. All this requires money, which accountant loans can help you with.
Expand Your Accounting Business
Established accounting firms can benefit immensely from a business loan. When it comes to business expansion, a secured loan gives you the confidence to hire additional staff, buy/lease more equipment, and lease a bigger office space. An approved speciality business loan for accountants allows you to have a buffer for unforeseen expenses. Business loans can also be used for marketing purposes.
Business Upgradation
Business loans can be used to upgrade your existing business. You can leverage the loan amount to buy/lease the latest equipment, upgrade your software, pay for necessary training and certifications for staff, etc.
Procure Working Capital
An accountant firm is different from a regular retail business. There may not be a regular year around revenue. In that case, a specialized short term working capital loan enables you to manage salaries, day to day operational costs, and cover urgent expenses.
Restructuring or Refinancing Your Business
If you already have a business loan with astronomical interest rates and want to benefit from floating interest rates, you can go for successful refinancing that allows you to combine your debts, lower your loan payments, and optimize your cash flow to maximize your profits.
How Can Accountants Benefit From Specialized Business Loans For Accountants?
Owning an accountant firm is totally different from regular businesses. A regular retail business enjoys the luxury of a daily revenue inflow. On the other hand, an accountant firm receives an uneven cash flow throughout the year, with the majority of revenue coming in around the tax time. Therefore, a specialized business loan for accountants allows them to leverage their financial strengths while keeping their business afloat and thriving. Key Partners Finance offers business loans to accountants tailored to their unique revenue model.
Flexible Payment Plans
Instead of the traditional rigid monthly payment plans, we offer flexible payment aligned with your cash flow, setting us apart from the generic business loan providers.
Guaranteed Loan Despite Higher Loan to Value Ratio
Loans for accountant firms are considered high risk owing to no actual asset value being appraised and given loan against. But at Key Partners Finance, we provide high LTV loans that allow you to borrow more against assets of lesser capital value.
Fast Approvals
We’ve minimized the red tape when it comes to accountant business loans. We’re the most trusted mortgage brokers for accountants, pioneers of fast approval accountants loans.
Competitive Interest Rates
We offer competitive interest rates as compared to conventional mortgage services. Based on your credit score, previous mortgage if any, current financial status, and repayment capability, you can expect our interest rates to range from 4-7%. We also offer easy refinance and loan restructuring options to access lower interest rates in the future.
Tailored Finance Options
We offer various accountants loans options such as Practice Finance to start, buy, or grow your accountant firm; Equity Partners Financing that allows you to buy greater equity in your own or any other accounting firm; Property Finance for accountants who want to invest in residential or business real estate; Car Loans for both new or used cars; Special Credit Home Loans for accountants who want to buy or refinance a home; Personal Banking that includes loans allowing accountants to manage day to day operational expenses; Commercial Property & Self Managed Super Funds (SMSFs) allowing accountants to buy commercial properties; and Fit-Out Finance allowing accountant firms to pay for new office fit-outs and improvements.
Are you ready to scale your accounting firm? Contact our expert mortgage brokers in Sydney at Key Partners Finance today and explore the finance options that best suit your business requirements.
