A line that’s there when the client pays on day 58.
Billable Capital opens lines of credit for professional-service firms from $25,000 to $500,000, with draws repaid over 6 to 24 months, a 600 minimum FICO, 12 months in business, and $25,000 a month in deposits. You pay only on what you draw. Funded in 1 to 3 business days, and same-day on draws once the line is open.
What are the criteria?
Line of credit — criteria
- Line size
- $25,000 – $500,000
- Draw repayment
- 6 – 24 months per draw
- Minimum credit score
- 600
- Minimum time in business
- 12 months
- Minimum monthly deposits
- $25,000
- Documents
- Application + 3 months of business bank statements
- Cost
- Charged only on the drawn balance. No cost on an unused line.
- Draw speed
- Same business day once the line is open
- Maintenance fee
- None
- Line review
- Every 6 months; lines grow with deposit history
- Initial setup
- 1 – 3 business days
- Underwritten
- In-house by Billable Capital
Why is a line the right product for a firm that bills monthly?
A working capital advance is a single event: you take the money, you repay it, it’s done. A line is a tool you keep. Open it when the statements look their best — after the busy quarter, after the settlements clear, after tax season — then draw against it in the months when the invoices are out but the money isn’t in.
That ordering matters more for a firm than almost any other business, because a firm’s cash problem is almost never a demand problem. The work is sold and the invoice is sent. The gap is the client’s payment terms, and it recurs every single month. The worst time to go looking for capital is the week payroll is due with three soft statements in hand.
Open the line in your strong quarter. A CPA firm opens it in June. A contingency practice opens it the month after a settlement lands.
An unused line costs nothing. There is no maintenance fee and no cost on an undrawn balance. You are charged only on what you actually draw.
Lines are reviewed every 6 months and grow with deposit history. Once the line is open, a draw lands the same business day.
Already carrying an advance and need recurring access instead? Working capital funds faster with no credit minimum, and a term loan is the consolidation path. Call and we will tell you which one fits before you apply.
What do firms draw a line of credit for?
| Draw | Repaid from |
|---|---|
| Payroll when the month’s largest client pays on day 58 instead of day 30 | That client’s payment, when it lands |
| Seasonal preparers and reviewers from January to April | Tax-season fees in April and May |
| Expert fees and deposition costs on an active matter | The hourly side of the book, or the settlement |
| Media and production fronted for a client campaign | The client’s reimbursement on net-30 or net-60 |
| Consulting engineers and renderings paid before the owner pays the design fee | The milestone invoice |
| A quarterly malpractice, E&O or software renewal that lands in a slow month | The next two months of billing |
If your draws are always against invoices your clients haven’t paid yet, compare receivables funding — it is usually cheaper for that exact pattern.
What a firm needs to qualify.
Every number below is a real criterion. If you clear these, apply. If you don’t, call us and we’ll tell you what would change it.
| Minimum monthly revenue | $15,000 in business bank deposits |
|---|---|
| Minimum time in business | 6 months |
| Minimum credit score | None for working capital or receivables funding. 600+ for a line of credit. 650+ for a term loan. 680+ for SBA. |
| Funding range | $10,000 to $2,000,000 for working capital. Up to $5,000,000 for term loans, SBA, and receivables facilities. |
| Time to a real offer | About 4 business hours on a complete file. |
| Time to funding | 24 hours. Same day if a clean file is signed before 11:00 AM ET. |
| Documents required | Application plus your 3 most recent months of business bank statements. 4 months if your billing is seasonal (tax season, contingency fees, year-end retainers). |
| Contract length | 2 pages. |
| Repayment | Fixed daily or weekly ACH from your operating account. No split funding. No holdback percentage. No lockbox on your operating account. |
| Prepayment discount | Up to 30% off the remaining cost of funding when a working capital advance is paid off within the first 30, 60, or 90 days. |
| Retainers & client billing | Counted. Retainer deposits, recurring client payments and lump-sum settlements all count toward your approval. Client trust (IOLTA) accounts are not underwritten as revenue — send the operating account. |
| Billing system requirement | None. Any practice-management, time-and-billing or invoicing system, or none at all. Underwriting is from bank statements. |
| Firm types approved | Law firms including contingency-fee practices, accounting and CPA firms, bookkeeping and tax preparers, management and IT consultancies, marketing, advertising, PR and creative agencies, architecture, engineering, surveying and environmental firms, HR consultants and recruiters. |
| Not required | Collateral for working capital. A business plan. Tax returns under $500,000. A minimum headcount or number of partners. A specific billing system. An audited financial statement. |
| Open to | U.S. businesses with a U.S. business bank account. All 50 states. |
Four minutes. Three bank statements. No credit impact to apply.
Line of credit questions, answered.
What does an unused line cost?
Nothing. There is no maintenance fee and no cost on an undrawn balance. Billable Capital charges only on what you actually draw, which is why firms open the line in a strong quarter and leave it sitting until a client pays late.
How fast is a draw?
Same business day once the line is open. Opening the line itself takes 1 to 3 business days on a complete file.
Can the line grow?
Yes. Lines are reviewed every 6 months and grow with deposit history. A firm that opens at $50,000 and runs clean through a tax season or a busy quarter routinely comes up at review.
Is a line of credit for a firm secured?
It carries a UCC-1 filing and a personal guarantee from the owner(s). It is not secured by specific collateral, and there is no assignment of your client receivables.
Why a line instead of receivables funding?
A line is yours to draw for any purpose — payroll, a deposit, a hire — and your clients never know it exists. Receivables funding advances against specific invoices and is usually the cheaper tool if every draw you would make is against an invoice that is already out. Many firms run both.
Open it in your strong quarter. Draw in your slow one.
$25,000 to $500,000, 600+ FICO, 12 months in business. Pay only on what you draw, and nothing at all on an unused line.