There are many options available when it comes to buying an accounting practice. Obviously the easiest is cash from the buyer, but this is not always the best option.
Some other options a buyer might consider:
• SBA Loan
• Convential Loan
• Retirement Funds
• Seller Financing
• Friends and Family
• Home Equity Line of Credit
Any of the above means will be options but may not be the solution. Buyer’s must also have solid credit, experience in the field of owning and operating their own practice as well as cash flow from the practice to be able to service the debt of the loan. Each lender will be a little different but overall the buyer needs to meet these qualifications.