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In observance of the Christmas holiday, our hours are as follows: Tuesday, December 24, 2024 we will be open from 9 am to 1 pm; Wednesday, December 25, 2024 we will be closed. We will reopen for normal business hours on Thursday, December 26, 2024. Your accounts are available 24/7 using our online banking, mobile app or ATMs.

It might surprise you that a community bank is one of the largest SBA lenders in the United States. Accounting firms, like yours, is one of our specialities.

As you explore options for financing your accounting firm acquisition or expansion, there are many different loans to consider. United Midwest Savings Bank business loans with a Small Business Administration (SBA) guaranty are an excellent choice, providing terms and options that may not otherwise be available to you in the marketplace.

United Midwest specializes in SBA lending to a group of core businesses in all 50 states, focusing on industries we understand - accounting firms being one of them. The staff at United Midwest are all experienced in SBA lending, with anywhere from 5 to 40 years of experience.  We might be a Midwest community bank based in Columbus, Ohio, but we are also one of the top SBA lenders in the country by doing what we do best – financing businesses like yours.

 

Your United Midwest SBA Lenders

shannon_hay.jpgRead Bio

Shannon Hay

Accounting Firms, General Industry
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Daniel Lunsford

Accounting Firms, General Industry
weston_holley_headshot.jpgRead Bio

Weston Holley

Accounting Firms, General Industry

Benefits of an SBA Loan from United Midwest

  • Partner buyouts, purchases, real estate, refinance
  • Purchase for as little as 10% down; up to 100% financing is available
  • A repayment term of 10-25 years, rather than a 3- or 5-year term for conventional commercial loans  
  • Interest rates are similar to conventional financing
  • We explain the nuances and advantages of our SBA loans, and navigate through the process quickly and efficiently. 
  • United Midwest has built an outstanding reputation for being able to quickly identify the cash flow of a business, assess financing requirements, and fulfill an expedited loan approval and closing. 
  • As an SBA PLP lender, we have the authority to approve and close loans on behalf of the SBA, saving you valuable time and making the process easier.
  • We have quietly grown into one of the top SBA lenders in the country, and we continue to grow by focusing on one customer at a time. 
Email an Accounting Firm Lender

Partnership with Accounting Practice Exchange

We're proud to be the exclusive sponsor of Accounting Practice Exchange. The exchange has always been an open marketplace of accounting practices for sale, merger opportunities, and other thought leadership surrounding the buying and selling of accounting firms. All brokers, as well as independent sellers are invited to list on Accounting Practice Exchange, creating a comprehensive hub for buying and selling opportunities. While we're not brokers ourselves, our role as a specialized lender positions us uniquely to contribute to the success of every accounting firm transaction. 

Accounting Practice Exchange

FAQ

SBA Loans for Accounting Firms

What can United Midwest offer you over other lenders?
In a word: experience. By focusing on SBA Lending, we're not just an efficient lender, but also a knowledgeable resource. We’re more than willing to spend the time to discuss your financing options and help you find the best financing solution for your business. With United Midwest you get the personal attention you expect from a community bank with the expertise and reach of a national lender.
Why should accounting firms consider an SBA loan from United Midwest for acquiring a business?
Many traditional banks only want to consider loans to businesses that can provide tangible collateral to secure their loans. Unfortunately, traditional banks do not take into consideration the underlying value of your renewal income stream, and expect you to have commercial real estate or other assets to pledge as collateral. An SBA loan from United Midwest can be a great solution for people looking to finance a business acquisition in which there isn’t much, or any, tangible collateral.
Is United Midwest a direct lender?
Yes! We are a national bank, not a broker. United Midwest Savings Bank lends to businesses in all 50 states.
How long will it take to complete the loan?
As an SBA PLP lender, United Midwest can have your loan approved in a matter of days, not weeks, and closed in under 30 days. This is often even faster than a conventional business loan.
What is the interest rate and term?
The repayment term is 10 years with real estate loans up to 25 years. No pre-payment penalties. Interest rates on SBA 7a loans are variable and tied to Wall Street Journal Prime.
What are the steps involved in an SBA loan from United Midwest?
After filling out the application and providing information included on our checklist, loan approval decisions are then typically made in 4-5 business days. Approvals are often contingent upon additional information you may be asked to provide or other factors, but in many cases you can expect to close on your approved loan within 30 days.
Once my loan closes, who do I contact with questions?
United Midwest services your SBA loan from the day it closes to the day it's paid off. We're available to answer any questions or concerns you may have throughout the life of your loan.
What ongoing commitments will I have with United Midwest once the loan is funded?
There are no loan covenants with an SBA loan, but, as with any business loan, you will be asked to provide annual tax returns and a personal financial statement.
How can I use my funds?
SBA loan proceeds can be used for any business purpose. Typical uses of funds include business acquisitions; owner-occupied commercial real estate acquisitions or refinance; equipment and inventory purchases; or general working capital needs.

Consistently exceeds expectations

Shannon Hay is the industry's leading expert nationwide. Shannon seamlessly blends unmatched knowledge, remarkable responsiveness, and an engaging personality, making him the go-to banker  for successful accounting practice mergers and acquisitions. As a lawyer specializing in this industry, I've had the privilege of collaborating with Shannon on many transactions. If you're looking for a banker who knows everything and consistently exceeds expectations, Shannon is the one to call.

- Sara C. Sharp, SK&S Law Group LLP

My go-to for financing

Shannon Hay is my go-to resource when it comes to M&A and financing options for accounting firms. He’s available to answer any questions or concerns about the entire loan application process. Shannon’s attention to detail, investment in the client relationship and willingness to go the extra mile is why I refer accounting firm owners who are seeking financing solutions.  

- Loren Fogelman, Business Success Solution

 

Professional and efficient

I recently worked with Shannon his team to facilitate the purchase of an accounting practice, and the experience was nothing short of excellent. After a disappointing encounter with a different bank in my initial financing attempt, working with Shannon and his team was a breath of fresh air. They were professional and efficient.  Shannon and his team's expertise and attention to detail were invaluable in guiding me through the whole process. Despite tight time constraints, Shannon and his team ensured that we not only closed on time but did so without any issues. Their commitment to delivering results and their support throughout the process made a world of difference. I’m grateful for their assistance and highly recommend their services to anyone seeking a dedicated and efficient banking team.

- Anton P. MBA, CPA, EA

Thank you

Thanks again for all of the help with everything within the past year. Your customer service and responsiveness are second to none.

- Ryan