Professional Services Loan

Best business loans for professional services and consultants.

Easy and fast online approval process.

Loan lengths from 6 to 24 months

Funding up to $5 million

Receive funds in 1-2 business days

Bad credit and no collateral options

Unsecured and secured financing available

Getting a Professional Service Loans for Your Business

With over 9 million jobs nationwide, the professional service sector is large. It's also diverse. Financing, insurance, accounting, medicine, architecture, engineering - you name it! Small business owners offering skill-based services make up many industries. While no two professions are exactly alike, enterprising professionals have one thing in common: business goals.

Whether you're a CPA, attorney, accountant, or doctor, we've got you covered. Our network of 75+ lenders compete to provide you the best professional service loans out there.

Get the working capital you need to scale growth. Our online loan process makes financing easy. Loan amounts go up to $5M - so even your largest business objectives can become a reality.

6 Best Professional Loans for Business

Every industry is unique. Finding a loan that makes sense for your profession and business model requires customization. At Wize, you choose from tailored loan offers, hand-picked by our dedicated professional industries team. Financing is based on your service-sector, preferences, and business goals.

SBA loan

The SBA provides dedicated funding for small business applicants. Financing is government backed, which means most lenders consider these loans to be less risky than others. Loan structures are similar to traditional short-term loans, although eligibility factors may differ

↳ Learn More About SBA Loans

Line of Credit for Business

Some professions experience seasonal dips in revenue when things slow down. Others are prone to fluctuating expenses. In these situations, a business credit line can help. Funds can be drawn from on an as-needed basis, as costs come up. Credit lines provide a flexible working capital solution and can be used as a financial buffer.

↳ Learn More About Line of Credit Loans

Business Cash Advance:

Business advances are popular with professionals who want immediate access to capital. They're commonly used to bridge short-term cash flow gaps. Loans are extended based on revenue instead of credit scores, making it an ideal option for business owners with bad credit.

↳ Learn More About Business Cash Advance Loans

Short Term Loan

Also known as installment loans, this financing type provides business owners with a one-time infusion of working capital. Funds are paid back in small increments over time, on a predictable payment schedule. Business term loans tend to appeal to professionals looking for affordability and structure.

↳ Learn More About Term Loans

Equipment Funding

Small businesses from all industries use equipment to move their business forward and complete daily tasks. Whether you need machinery for your medical practice, commercial vehicles for your consulting business, or new technology for your firm, equipment loans can help you reach your goals. Financing options are available with no collateral required.

↳ Learn More About Equipment Financing

Invoice Factoring

Factoring is a form of asset-based financing. Lenders provide working capital up-front, based on a company's outstanding invoices. This financing type is a good option for business owners who want to minimize account receivable related hastles.

↳ Learn More About Invoice Factoring

Which Professionals Can Receive Business Financing?

Qualified applicants come from many disciplines. They're lawyers, tax accountants, IT consultants, nurse practitioners, doctors, engineers, and more.

Funded professionals provide tangible or intangible products, drawing from their knowledge-base and career background. Some professionals leverage their network and industry experience and provide fee-based consultations. Others provide expert advice after years of standardized education and training.

Professional service firms eligible for loans include law and legal firms, outpatient medical practices and health centers, insurance companies, financial planning centers, consulting companies, engineering organizations, accounting firms and other businesses for professionals.

Regardless of the niche, each firm typically serves customers in need of specialized services. Customers typically seek out professional businesses to accomplish a narrow objective or goal.

Eligibility for Industry Loans

Have your most recent bank statements, from the last 3 months, ready for review. Bank statements are used to verify financial information and operating cash flow.

Financial Statements:

The amount of outstanding debt your business carries can impact loan offers. Lenders look at debt-to-income ratio (DTI) in order to determine risk. Companies that are highly leveraged are generally considered riskier than those with no outstanding debt.

Existing Debt:

Credit scores are only one of many factors considered when determining financing eligibility. Having a strong business credit score will matter more than your personal credit. A history of responsible borrowing will help you secure the most competitive professional loans for business.

Time in Business:

The longer you've been in business, the better. Professionals who own companies that have been around a minimum of 6 months will have the best approval odds.

Average Revenue:

If your professional services company generates a lot of revenue, you'll be eligible for larger financing amounts. Loan sizes max out at a top percentage of company revenue. Approved applicants are able to demonstrate a minimum of $10,000 monthly business revenue, on average.