Greendale Funding of Gallatin, Tennessee helps Sumner County, TN IT, accounting, consulting and engineering firms request credit lines, working capital and term loans. The county counted 51 accounting, 71 consulting and 25 engineering employers in 2023. Funding for these firms follows billing cycles, hiring and the purchase of an existing practice.
At a glance
- Accounting and bookkeeping employers, Sumner County, TN
51 (CBP 2023)
- Consulting employers, Sumner County, TN
71 (CBP 2023)
- Engineering and architecture firms with payroll, Sumner County, TN
25 (CBP 2023)
IT company business loans and other firms that bill for time
An IT services company, a consulting practice and a CPA firm share one feature: few hard assets and a lot of receivables. Funding for them tends to be unsecured or secured by receivables, and a line of credit or working capital covers the time between doing the work and being paid. Buying a practice or a client book is a term loan question.
The figures below cover three Census groups. No separate county count for computer systems design firms is shown on this page; other service businesses are on the industry overview.
Firm counts for Sumner County, TN
| NAICS group | Employers | Employees | Annual payroll | Under 5 employees | In ZIP 37066 |
|---|---|---|---|---|---|
| Accounting, tax and bookkeeping (5412) | 51 | 354 | $15.6 million | 68.6% | 12 |
| Management and technical consulting (5416) | 71 | 392 | $40.5 million | 78.9% | 17 |
| Architecture and engineering (5413) | 25 | 129 | $12.4 million | 64.0% | 12 |
The three groups counted 147 employers together (our sum: 51 + 71 + 25). Most were small: 68.6% of accounting firms, 78.9% of consulting firms and 64.0% of engineering firms had fewer than five employees. Nonemployer Statistics separately counted 263 accounting, 664 consulting and 160 architecture and engineering businesses with no payroll in 2024.
CPA firm acquisition financing, explained for Gallatin, TN owners
Buying a CPA practice means buying its client relationships. Partners read the seller's revenue by client, how many clients stay after a sale, and the transition plan. A term loan with payments matched to the retained revenue is one structure; an earn-out or seller note can share the risk.
- Three years of the practice's revenue and client counts
- Client concentration: share of revenue from the top ten
- The seller's transition period
- Non-solicitation terms, reviewed by counsel
Accounting firm financing, explained for Gallatin, TN owners
Tax-season firms collect much of a year's fees in a few months while wages run all year. A line drawn in the lean months and paid down after filing deadlines fits that pattern. Technology and office purchases can be financed separately as equipment.
Small business loan for consulting business, explained for Gallatin, TN owners
Consulting firms wait on clients that pay 30, 60 or more days after an invoice. Working capital sized to one contract's payroll before its first payment is one fit; invoices from known clients can support the request.
Illustration only, invented figures: a consulting firm starts a $60,000 three-month engagement billed monthly at $20,000 on 45-day terms. It pays two consultants $7,000 a month each. By the first payment, about 75 days in, it has paid $35,000 in wages (our arithmetic: 2.5 months x $14,000).
Accounting firm loans: a Gallatin, TN primer
A partner reviewing an accounting firm looks at recurring revenue, client retention, existing debts and the owner's credit. Because the firm's value sits in clients and people, a partner may ask for a personal guarantee where there is little collateral.
CPA firm financing for owners in Sumner County, TN
Of the county's 51 accounting, tax and bookkeeping employers in 2023, 35 had fewer than five employees (CBP 2023). For a firm that size, a partner reads the owner's records and the firm's together, so keeping business and personal accounts separate matters.
Engineering firm line of credit loan: what Gallatin, TN owners weigh
Engineering and architecture firms bill by project phase, and phases can stall while a client waits on approvals. A line covers payroll during the stall; a term loan covers software, survey equipment or a vehicle. Weigh the line's charges against the number of times a year it would be drawn.
Records a partner reads for a professional firm in Sumner County, TN
- Revenue by month for two years
- Accounts receivable aging: current, 30, 60, 90 days
- Top clients and their share of revenue
- Signed engagement letters for large clients
- Existing debts and any prior acquisition note
A firm whose receivables turn within 45 days reads very differently from one carrying invoices past 90 days.
Buying a client book: an order of steps
- Get revenue by client for three years from the seller.
- Mark which clients are recurring and which were one-time projects.
- Estimate retention, and price on the revenue expected to stay.
- Agree a transition period with the seller.
- Have counsel review non-solicitation and client-notice terms.
- Size the loan to the retained revenue.
By Greendale Funding · Updated