[Anonymous]

Hey all! I hope everyone had a great Christmas holiday season. It’s been a while since I’ve logged on and commented, but my wife and I have come to the conclusion that it would be best for our family for me to go out on my own after the upcoming busy season.

I currently live in the suburbs of Houston, Texas and work at a small firm in the suburbs as well. I was wondering if anyone knew of any banking/finance institutions who lend/finance specifically to individuals looking to start/purchase a CPA practice.

I’ve contacted a broker regarding assisting in financing options. I also contacted someone from Bank of America because they now specialize in financing the purchase of CPA practices. The only issue with BOA is that they typically loan to licensed CPA’s of 7 years plus. I’m licensed, but only for about a year and a half, although I’ve been in public accounting for 6 years now (I had two kids and put off the CPA for a while).

I was just wondering if anyone knew of an institution or another means of financing the purchase of a practice.

[wldcatnc]

Another route you could take is the SBA (Small Business Administration). I know they're financing is usually around Prime +2% and their underwriting standards are a little laxer than that of a traditional bank.

FAR: 81
REG: 85
AUD: 73,71,83
BEC: 82

DONE!!!!!!

[Author]

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