Industry
Staff up for tax season, then carry the firm through the quieter months.
✓ Checking what you qualify for does not affect your credit score.
Accounting is on the commonly eligible list on our eligible industries page: "Legal, accounting, engineering, architectural and IT consulting." Firms fall under NAICS 5412, Accounting, Tax Preparation, Bookkeeping and Payroll Services.
The Census Bureau's 2022 County Business Patterns count 135,960 establishments in that category nationwide, employing 1,231,004 people. That includes 55,642 offices of certified public accountants, 28,386 tax preparation services and 5,480 payroll services. In South Florida there were 2,266 in Miami-Dade and 1,826 in Broward.
One caution: firms whose main line is collections or debt and credit repair fall into categories our eligible industries page lists as typically restricted on the bank-style tier. A CPA or bookkeeping practice is not affected.
The tax calendar sets the rhythm. For calendar-year filers, the IRS deadlines are March 15 for partnership and S corporation returns and April 15 for individual returns, with extended partnership and S corporation returns due September 15 and extended individual returns due October 15. When the 15th falls on a weekend or holiday, the deadline moves to the next business day. Work, staffing and billing bunch around those dates.
| Period | What happens | Cash flow effect |
|---|---|---|
| January to mid-April | Peak season: individual, partnership and S corporation returns | Seasonal staff, overtime and software costs rise before most fees are collected |
| Mid-April to May | Invoices for season work go out and are collected | Cash builds; the best time to repay seasonal borrowing |
| June to August | Quieter months; advisory and bookkeeping work continue | Fixed costs continue on lower billings |
| September to October 15 | Extension season | A second, smaller peak in work and billing |
| November to December | Year-end planning, payroll and 1099 preparation | Firms often invest in software, hiring and marketing for the next season |
Tax-season seasonality is the defining pattern. A firm may earn a large share of its revenue in a few months, but it hires seasonal preparers, pays overtime and renews software before the fees come in. Bookkeeping and payroll practices are steadier, billing monthly retainers, but they still carry receivables when clients pay late. Growth often comes through acquiring a retiring practitioner's book of clients, which is a defined, one-time cost.
| Need | Product that usually fits | Why |
|---|---|---|
| Seasonal staff and overtime from January to April | Line of credit | Draw in winter, repay from spring collections; no early payoff penalty and no cost to keep the line open the rest of the year |
| Buying a client book or another practice | Term loan | Fixed amount, weekly payments, 0% origination; capped at 15% of annual revenue |
| New tax software, hardware or an office move | Term loan or equipment financing | Defined cost with a known price |
| Firm already carries an advance on daily debits | MCA refinance | $10,000 to $100,000; move to a more predictable structure |
Term loans run 12 to 18 months with weekly payments, are capped at 15% of annual revenue and must be in first position; a full early payoff earns a 50% discount on the remaining interest. Lines of credit run 12 to 36 months, with a $10,000 minimum draw and no origination fee, maintenance fee or early payoff penalty. Details are on the business term loans and business line of credit pages; your offer governs.
The numbers below are illustrative only, using the lowest published line of credit rate. They are not an offer or a client story; your rate, fees and schedule are set in your offer.
A tax and bookkeeping firm with about $600,000 in annual deposits hires three seasonal preparers each January. It draws $30,000 from its line in early January to cover their pay and software renewals, then repays the full balance in May from season collections.
| Item | Amount |
|---|---|
| Draw | $30,000 |
| Draw fee (2.49%) | $747.00 |
| Monthly-equivalent payment at 1% per month, 12-month schedule | $2,665.46 |
| Interest paid over the first four monthly payments | $1,057.12 |
| Balance remaining after four payments, repaid in full in May | $20,395.27 |
| Total interest plus draw fee if repaid after four payments | $1,804.12 |
| Interest plus draw fee if held the full 12 months instead | $2,732.56 |
Payment math assumes a fixed 1% monthly rate on a fully amortizing balance. Because the line has no early payoff penalty, repaying after the season stops interest on the balance retired, and the room reopens for next January. The same firm would be capped at $90,000 on a term loan (15% of $600,000), which suits a practice acquisition better than seasonal payroll.
Tier 1: 650 FICO, 3 years in business, $300,000 a year or $25,000 a month, 8+ monthly deposits.
Tier 2: 600 FICO, 6 months in business, $60,000 revenue, $800 minimum daily balance.
Renewal: 550 FICO, 2 years in business, once 50% of the original balance is repaid.
The minimum FICO is 500. The 650/600/550 tiers are product criteria that decide which product a file is read against, not a floor on the business. Scores in the 500s are placed routinely and are read on revenue, deposit consistency and time in business rather than on the score alone.
See also how to finance a seasonal business and how professional services firms qualify.
Yes. Accounting is on the commonly eligible list on our eligible industries page.
Yes. Tell us when your peak falls. We read revenue, deposit consistency and time in business, and seasonal context helps.
A line usually fits seasonal payroll because you draw only what you need and can repay early without penalty. A term loan fits a one-time cost such as buying a client book.
The minimum FICO is 500. The 650/600/550 tiers are product criteria that decide which product a file is read against, not a floor on the business. Scores in the 500s are placed routinely and are read on revenue, deposit consistency and time in business rather than on the score alone.
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