SBA lenders approved 942 7(a) loans to other accounting services, mainly bookkeeping, billing and non-CPA accounting practices, between October 2023 and June 2026: $281,494,500 from 153 lenders. The median loan was $103,100, below the national $150,300, and the median rate was 10.75%, above the national 10.25%. Acquisitions were 10.6% of loans, in line with the national 10.4%, at a median of $514,500. Start-ups were only 4.4%. With no hard collateral, lenders underwrite recurring client fees, retention through a sale, and whether the seller's exit fits SBA's rules.
| Measure | Other Accounting Services | All industries |
|---|---|---|
| SBA 7(a) loans approved | 942 | 162,355 |
| Median loan | $103,100 | $150,300 |
| Middle half of loans | $50,000 – $318,525 | $50,000 – $500,000 |
| Loans of $1 million or more | 6.1% | 12.9% |
| Median rate at approval | 10.75% | 10.25% |
| Middle half of rates | 9.75% – 12.25% | 9.3% – 11.25% |
| Acquisitions (change of ownership) | 100 (10.6%) | 16,849 (10.4%) |
| Median acquisition loan | $514,500 | $693,000 |
| Lenders that made these loans | 153 | 1,648 |
| SBA 504 loans (real estate, equipment) | 32 | 16,714 |
Approvals FY2024 – FY2026 to date (1 Oct 2023 – 30 Jun 2026), cancelled loans excluded. Source: SBA 7(a) and 504 FOIA loan records, as of June 30, 2026.
- SBA 7(a) loans approved
- 942 (Oct 2023 – Jun 2026)
- Median loan
- $103,100 (national $150,300)
- Median rate at approval
- 10.75% (national 10.25%)
- Acquisitions
- 100 loans (10.6%), median $514,500
- Start-ups
- 4.4% of loans
- Fixed-rate share
- 8.3%
Who borrows, and what the approvals show
NAICS 541219, other accounting services, covers accounting work outside licensed CPA firms: bookkeeping services, billing services, and accountants who practice without a CPA firm license. CPA firms have their own page, SBA loans for CPA firms, and so do tax preparation services. From FY2024 through June 2026 SBA lenders approved 942 7(a) loans to this group, $281,494,500 from 153 lenders. The median loan supported 3 jobs.
| Figure | Other accounting services | What it says |
|---|---|---|
| Median loan | $103,100 | About two-thirds of the national $150,300 |
| Middle half of loans | $50,000 to $318,525 | Working capital at the low end, book purchases at the high end |
| 90th percentile | $767,520 | Larger practice acquisitions and combinations |
| Loans of $1 million or more | 57 (6.1%) | Uncommon |
| Median rate | 10.75% (middle half 9.75% to 12.25%) | Half a point above the national 10.25% |
| Fixed-rate share | 8.3% | Nearly all loans float |
| SBA Express | 31.7% of loans | Less than a third, despite the small loans |
| Start-ups | 4.4% of loans | Few new practices borrow |
| Acquisitions | 100 loans (10.6%), median $514,500 at 9.5% | In line with the national 10.4%, at five times the industry median |
| SBA 504 | 32 loans, median $303,500 | A few firms buy an office |
Two figures stand out. Start-ups are only 4.4% of loans, because a new bookkeeping practice needs a laptop and a client, not a loan, and a lender has nothing to underwrite until the clients exist. And acquisitions are 10.6%, so roughly one loan in ten buys a practice. For a business that costs almost nothing to start, that is where borrowed money earns its keep.
A business that is its client list
A bookkeeping firm's assets are its engagements. There is no inventory, little equipment and usually a leased office or none at all. A lender is therefore lending against the likelihood that monthly fees keep arriving, and it looks for evidence of that in a few places:
- Recurring versus one-off revenue. Monthly bookkeeping and payroll engagements repeat. Clean-up projects, catch-up work and one-time tax filings do not. Lenders separate the two and weight the recurring fees.
- Client tenure and churn. How long clients have stayed, and how many left each year. A practice that loses and replaces clients constantly is a sales business, not an annuity.
- Concentration. A practice where one or two clients are a large part of fees carries the risk of those clients leaving, and lenders ask.
- Who does the work. If the owner personally keeps every client's books, the business is the owner's time. Staff bookkeepers with their own client relationships make the fees more durable.
- Engagement letters. Written engagements with stated monthly fees show what a lender can count on, far better than a list of names.
Cash flow is then tested at SBA's floor, debt service coverage of at least 1.15x and 1.0x globally including the owners' personal obligations. Because loans are small and the business has thin collateral, the owner's personal credit and household cash flow carry more weight here than in asset-heavy industries. See global cash flow.
Buying a book of clients under SBA's rules
The 100 acquisition loans had a median of $514,500 at 9.5%, five times the industry's median loan. The buyer is usually an accountant going independent by buying an established book, or an existing practice adding one. Nearly the whole price is goodwill, so SBA's valuation rule applies almost every time: where the amount financed, less appraised real estate and equipment, exceeds $250,000, an independent business valuation is required, and the loan for the purchase cannot exceed it. See SBA business valuation.
Private sales of accounting books have their own customs, and several of them do not survive contact with an SBA loan:
| Common in a private book sale | What SBA allows |
|---|---|
| Price adjusts with the clients retained after closing | SBA prohibits an earnout to the seller; a retention-based price works like one, so the structure has to change |
| Seller stays on as an employee through the transition | In a complete change of ownership the seller may not stay as owner, officer or employee; consulting up to 12 months, or up to 24 months from 1 October 2026 |
| Seller note paid monthly from day one | Allowed, but it is debt and counts in debt service |
| Seller note that waits | Counts toward up to half of the equity injection only on full standby for the life of the SBA loan |
| Small cash down payment | At least 10% of total project costs as equity for a complete change of ownership |
Client retention is the lender's central worry, and without an earnout the protection has to come from somewhere else: a seller who introduces the buyer to every client during the consulting period, a standby seller note that gives the seller a reason to care, and a buyer whose experience makes clients comfortable staying. From 1 October 2026, under SOP 50 10 8.1, financial due diligence is required on every change of ownership, and the business must show 1.25x coverage on historical results. See seller notes and SBA's full-standby rule.
In a bookkeeping practice sale, the retention protection the seller expects and the earnout SBA prohibits are often the same clause. Settle it before the letter of intent is signed.
Why rates run above the national median
The median rate of 10.75% and a middle half reaching 12.25% reflect the small loans. SBA caps variable 7(a) rates at the base rate plus 6.5% for loans of $50,000 or less and plus 6% from $50,001 to $250,000, and the median loan of $103,100 sits in the plus-6% tier. The median acquisition loan, $514,500, sits above $350,000, where the cap is base plus 3%, and acquisition loans priced at a median of 9.5%. Only 8.3% of loans were fixed-rate, so most borrowers' payments move with the base rate. See SBA maximum interest rate.
The guaranty also shapes the lender's appetite. SBA guarantees 85% of 7(a) loans of $150,000 or less and 75% above that, while SBA Express, used for 31.7% of loans here, carries a 50% guaranty. With no collateral behind a small practice loan, a lender has reason to prefer the fuller guaranty of a standard 7(a), which may be why Express is used less here than the loan sizes would suggest.
Preparing the file
Start from SBA's standard list: business tax returns for 2–3 years, a P&L and balance sheet with a year-to-date P&L through last month-end, a debt schedule, and personal tax returns and a personal financial statement for each owner of 20% or more. For an accounting services firm, add:
- A client list with monthly fee, services and start date for each client, names removed if needed
- Churn by year: clients gained and lost
- Sample engagement letters
- For a purchase, the target's latest full year of figures and the letter of intent
- The buyer's resume and credentials, which support Form 1919 and the lender's view of client retention
Transparent builds the lender package — financing model, lender presentation, blind teaser and underwriting memo — in a day once the documents are in. For a book purchase, the model shows recurring fees separately from one-off work, which is the first thing an underwriter will rebuild. SBA's data shows 153 lenders approved a loan in this industry in the period; Transparent's book holds 278 lenders that write SBA 7(a) and 504. On SBA loans the lender pays Transparent, not the borrower. For combining practices, see add-on acquisition financing.
Common questions
- Can I buy a bookkeeping practice with an SBA loan?
- Yes. 100 SBA loans, 10.6% of the industry's total from October 2023 to June 2026, financed a change of ownership, at a median of $514,500. Expect an independent valuation, at least 10% equity, and no earnout to the seller.
- Can the purchase price depend on how many clients stay?
- Not in that form under an SBA loan. SBA prohibits an earnout to the seller in a change of ownership it finances, and a price that adjusts with retained clients works like one. Retention is usually addressed through the seller's consulting period and a seller note on full standby.
- Why are SBA rates for accounting services above the national median?
- Because the loans are small. The median loan of $103,100 falls in the tier where SBA allows up to base plus 6%, and the industry's median rate was 10.75% against 10.25% nationally. Acquisition loans, which are larger, priced at a median of 9.5%.
- Can I get an SBA loan to start a bookkeeping business?
- It is uncommon: start-ups were only 4.4% of loans. A new practice has little to finance and nothing for a lender to underwrite until it has clients. Most owners start without a loan and borrow later, often to buy a book.
- What does a lender want to see about my clients?
- Monthly fees by client, how long each has stayed, how many leave each year, and written engagement letters. Lenders weight recurring bookkeeping and payroll fees over one-off projects.