Five ways to fund a firm. Here’s which one fits.
Billable Capital offers five funding products to law firms, CPA firms, consultancies, agencies and design firms: working capital ($10K–$2M, 24 hours, no minimum FICO), a line of credit ($25K–$500K, 600+), receivables funding (up to $5M, up to 90% advanced), term loans ($50K–$5M, 650+), and SBA 7(a) ($50K–$5M, 680+). The fastest money costs the most. The cheapest money takes the longest. Below is the whole trade-off in one table, with no form in the way.
What does each product cost in time and credit?
| Product | Amount | Term | Speed | Min FICO | Min time in business | Min monthly deposits | Who underwrites |
|---|---|---|---|---|---|---|---|
| Working capital advance | $10K – $2M | 3–18 months | 24 hours | None | 6 months | $15,000 | Billable Capital, in-house |
| Line of credit | $25K – $500K | Revolving, 6–24 month draws | 1–3 business days | 600 | 12 months | $25,000 | Billable Capital, in-house |
| Receivables funding (factoring) | Up to $5M facility | Per invoice, 30–90 days | 3–5 days to open, 24 hours per invoice after | None | 3 months | $20,000 in open B2B invoices | Billable Capital, in-house |
| Term loan | $50K – $5M | 6–60 months | 3–7 business days | 650 | 24 months | $40,000 | Billable Capital in-house to $500K; bank partners above |
| SBA 7(a) / SBA Express | $50K – $5M | Up to 10 years working capital, 25 years real estate | SBA Express 10–21 days; 7(a) 30–45 days | 680 | 24 months | — | SBA-preferred bank partners, packaged by Billable Capital |
Billable Capital underwrites and funds working capital, lines of credit and receivables facilities in-house. SBA 7(a), SBA Express and term loans above $500,000 are packaged by Billable Capital and placed with bank and SBA-preferred lending partners. See disclosures.
Working capital
In‑houseNo minimum FICO, 6 months in business, $15,000/month in deposits. 3–18 months, fixed daily or weekly ACH. Payroll between retainers, a hire before the work lands.
Working capital →Line of credit
In‑house600+ FICO, 12 months in business, $25,000/month. Draw when a client pays slow, repay when they pay. No cost on an unused line.
Line of credit →Receivables funding
In‑houseNo minimum FICO — your client’s credit is underwritten. Up to 90% of a net-30 or net-60 invoice advanced within 24 hours of approval.
Receivables funding →Term loan
Bank partners650+ FICO, 24 months in business, $40,000/month. 6–60 months, fully amortizing. Partner buyouts, a book of clients, a second office. In-house to $500,000.
Term loans →SBA 7(a) & Express
SBA partners680+ FICO, 24 months in business, 10% down. Up to 10 years on a buyout or acquisition, 25 years on real estate.
SBA loans →Which product should I use for what I’m doing?
Find the row that matches the job in front of you.
| What you’re doing | Best product | Why |
|---|---|---|
| Payroll on the 15th; the big client pays on the 45th | Line of credit, or working capital if the line isn’t open yet | Draw against the invoice, repay when it clears, draw again next month. |
| Net-30 and net-60 invoices to corporate clients, every month | Receivables funding | You’re not short on billing, you’re short on timing. Up to 90% in 24 hours. |
| Hiring an associate or account director before the engagement bills | Working capital | Speed matters more than cost; repaid out of the billing the hire generates. |
| Seasonal staff for tax season | Line of credit opened in the autumn | Draw January to April, repay from April and May fees, repeat next year. Read the guide. |
| Case costs on a contingency matter | Working capital | Experts and depositions are paid now; the fee lands at settlement. Contingency fees can’t be factored. |
| Buying out a partner | Term loan, or SBA 7(a) if you have 45 days | Both allow it. SBA is cheaper; the term loan closes faster. Read the comparison. |
| Buying a retiring practitioner’s book of clients | SBA 7(a) or term loan | Acquisition is a core SBA use; match the term to how long the clients will keep paying. |
| Opening a second office | Term loan | Match the term to the lease and the ramp, not to one busy quarter. |
| Three advances you can’t carry | Term loan consolidation | One payment, longer term. Call before taking a fourth position. |
How fast does each one actually move?
- 24 hoursWorking capital advance
- 1–3 daysLine of credit
- 3–5 daysReceivables facility to open, then 24h per invoice
- 3–7 daysTerm loan decision
- 10–21 daysSBA Express
- 30–45 daysStandard SBA 7(a)
Timelines describe typical outcomes on complete files during business days, Monday to Friday, 9:00 AM to 7:00 PM ET. Holidays, incomplete files and third-party response times extend any timeline.
Four minutes to apply. Twenty-four hours to fund.
Send us four minutes and three statements
Firm name, EIN, monthly deposits, what the money is for, and your three most recent months of business bank statements for the operating account. Four if your billing is seasonal. No tax returns under $500,000.
An underwriter reads your file
Every file is read by a person, not a score. We look at average daily balance, how many clients your deposits come from, retainers and recurring billing, your NSF pattern and your slowest month — not just the top-line number. Offer in about four business hours during the week.
Sign two pages and get funded
You see the amount, the payback, the payment and the schedule before you sign anything. A clean file signed before 11:00 AM ET generally funds the same day; otherwise next business day.
One application covers all five products. Not sure which fits? Call an underwriter or read the guides — none of them are gated.
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.
Picking between the five.
What’s the cheapest way to fund a firm?
An SBA 7(a) loan is the lowest cost of capital available to a professional-service firm — up to 10 years on a buyout, acquisition or working capital and 25 years on owner-occupied real estate, with 10% down. It requires 680+ credit, 24 months in business, filed tax returns, and 30 to 45 days. An in-house term loan is the next cheapest at 650+ credit and 3 to 7 business days.
What’s the fastest way to fund a firm?
A working capital advance. Billable Capital gives an offer in about four business hours on a complete file and funds in 24 hours, with no minimum credit score, $15,000 a month in deposits, and 6 months in business. A clean file signed before 11:00 AM ET generally funds the same day.
Which product fixes slow-paying clients?
If the invoices are already out and the only problem is the client’s payment terms, receivables funding — up to 90% of the invoice within 24 hours. If the gap is between retainers or before an invoice can be sent at all, a line of credit or working capital.
Can I have more than one product at a time?
Yes for complementary products. A receivables facility commonly runs alongside a line of credit or a working capital advance. A second working capital position does not — if you already have an advance out, we will look at a consolidation or a re-term rather than stacking on top of you.
Does applying hurt my credit?
No. Submitting the application does not affect your credit. Billable Capital reviews your business bank statements first. On a credit-qualified product — a line of credit, a term loan, or SBA — a credit pull happens only when you move forward, and we tell you before it does.
Which of these does Billable Capital fund itself?
Billable Capital underwrites and funds working capital advances, lines of credit, and receivables facilities in-house from its own capital. SBA 7(a), SBA Express, and term loans above $500,000 are packaged by Billable Capital and placed with bank and SBA-preferred lending partners.
One application covers all five.
$10,000 to $2,000,000. No minimum FICO for working capital. Four minutes to apply, and checking your options does not affect your credit.