Getting the right loan with the right bank.

Summary

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Accounting firms

Accounting firms should interview any banks they are planning to use for new financing or refinancing of current debt. Some of the important issues include whether the bank is knowledgable about the accounting industry, the costs and repayment terms of the financing, level of financing available, technologies being used and whether the owner must personally guarantee the loan. Information about the firm's structure, an outline of the needs, two years of income statements and balance sheets and billing rates are among the information that should be provided by the firm at the interview.

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Extract

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Getting the right loan with the right bank.

Whether a CPA firm is seeking new financing or refinancing existing debt, it is never a bad time to review ...

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