Professional services business loans look different from most, because a firm’s biggest asset isn’t a machine or a shelf of stock. It’s billable time. Your team does the work today, you bill at the end of the month or the project stage, and the client pays weeks later. FastBiz Loans gives accounting firms, law practices, engineers, architects, IT consultancies and agencies easy access to capital from $5,000 to $500,000, so strong growth doesn’t get stuck in your ledger.
Why do profitable firms run short of cash?
Because of lock-up: the cash tied up in work that’s done but not yet paid for. Lock-up has two parts:
- Work in progress (WIP): hours already worked and paid for in salaries, but not yet billed.
- Debtors: invoices issued but not yet paid.
Add the two together and measure them in days of fees, and you have your lock-up days. A firm with 30 days of WIP and 45 days of debtors is effectively funding its clients for about two and a half months. Salaries, meanwhile, go out every fortnight, and since 1 July 2026, Payday Super requires employee super to reach each fund within 7 business days of payday.
When a firm wins more work, lock-up grows in step. That’s the moment finance earns its keep.
Where do the cash peaks fall in different professions?
| Profession | How billing usually works | When cash gets tight |
|---|---|---|
| Accounting and bookkeeping | Fixed fees and time billing, heavy in tax season | July to October, when the team is flat out but invoices lag |
| Legal | Billed at matter milestones or on completion | Long matters with large disbursements paid upfront |
| Engineering, architecture, surveying | Project stages and progress claims | Between stage sign-offs on big projects |
| IT and consulting | Monthly retainers, sprints or time and materials | Scaling a team for a new contract before the first invoice |
| Marketing, design and creative agencies | Retainers plus project fees; media paid on behalf of clients | Large media or production costs paid before the client pays |
What do professional firms usually fund?
Growth moves, mostly. In a business where people are the product, most borrowing is about adding capacity or winning bigger clients. The common ones:
- Hiring ahead of revenue. A senior hire takes a few months to become fully billable.
- Technology. Practice management software, cybersecurity, AI tools, laptops and meeting-room AV.
- Premises. A fit-out, a second office or a refresh that helps win bigger clients.
- Buying a client book or merging with a retiring principal’s practice.
- Bridging slow payers, especially large corporates and government agencies on long terms.
Which finance product fits a professional services firm?
| Product | Fit | How firms use it |
|---|---|---|
| Invoice Finance (up to 85% of invoice value) | Strong | Unlock cash from issued invoices to business or government clients |
| Line of Credit ($10k–$250k) | Strong | Cover WIP and payroll, draw and repay as billing cycles turn |
| Small Business Loan ($5k–$500k) | Good | Fit-outs, a new office, a client-book purchase, a planned hiring push |
| Equipment Finance ($10k–$500k) | Good | IT hardware, AV, survey instruments, drones and plotters |
| Startup Loan ($5k–$150k) | Situational | An experienced professional opening a new firm in the first six months |
| Merchant Cash Advance ($5k–$300k) | Rarely | Most fees are paid by bank transfer against invoices, not card |
Not sure whether you need a revolving limit or a lump sum? Our line of credit vs business loan comparison lays out the trade-offs.
Example scenario — illustrative only. A Newcastle structural engineering firm of twelve wins a design package for a hospital upgrade, billed at stage sign-offs with 45-day payment terms. The directors hire two graduates and a senior engineer ahead of the first stage. A line of credit covers payroll during the design stage, and once the first stage invoice is issued, invoice finance releases most of its value within days, bringing the line back down.
How can a firm shrink lock-up before it borrows?
Finance works best alongside good billing habits:
- Bill more often. Monthly or fortnightly interim billing on longer jobs beats one big invoice at the end.
- Agree terms upfront in the engagement letter, including deposits for new clients.
- Invoice the day a stage is approved, with every reference number the client’s accounts team needs.
- Chase politely and early. A friendly reminder a few days before the due date often works better than a stern one after.
Our guide to how invoice finance works walks through an illustrative invoice from issue to final payment.
What does a lender look at for a professional firm?
Professional services applications tend to be straightforward. A lender will look at regular client receipts in your bank statements, the spread of your clients, how salaries and super are handled, any existing finance, and your ATO position. For invoice finance, they’ll also want your debtor list and details of your main clients.
Firms that bill regularly and keep debtor days steady usually find the process quick, because their statements show a clear, repeatable pattern of client payments. It’s a growing field, too. The ABS counted a 3.6% rise in professional, scientific and technical services businesses in 2025–26.
How fast can a firm get funded?
Decisions can come in as little as 4 hours, and same-day funding is possible once you’re approved and have signed. You’ll need 3–6 months of business bank statements, photo ID and your ABN or ACN, plus financial statements for amounts over $150,000. Start your 60-second enquiry. It won’t affect your credit score, and you can finish it between client meetings.
Questions we get asked
Can I use invoice finance if my clients are government agencies or large corporates?
Often, yes. Invoices to government bodies and large, established companies are generally viewed favourably because the payer is strong, even if they pay slowly. Each facility is assessed case by case.
Can I borrow against work in progress?
Unbilled work in progress isn't an invoice yet, so invoice finance can't fund it directly. A line of credit is the usual way to cover the period before you bill, then invoice finance can take over once invoices are issued.
Can a loan fund the purchase of a client book?
Buying a client book or merging with another practice is assessed case by case. The lender will want to see your firm's bank statements, the terms of the purchase and, for amounts over $150,000, financial statements.
I'm an experienced professional starting my own firm. Can I get finance?
Firms under six months old can apply for a startup loan of $5,000 to $150,000. Your professional track record, any clients coming with you, your assets and your plan all count in the assessment.
Do my clients find out if I use invoice finance?
It depends on the facility. Some arrangements are confidential and you collect from clients as usual; others ask clients to pay into a nominated account. Your lending specialist will explain which applies before you sign.