The Complete Guide to Restaurant Financing and Restaurant Loans (2022) - On the Line

“In general, eligibility is based on what a business does to receive its income, the character of its ownership, and where the business operates. Normally, businesses must meet size standards , be able to repay, and have a sound business purpose. Even those with bad credit may qualify for startup funding.” See here for a complete list of the eligibility requirements for a SBA loan. [2]

SBA loans typically require applicants to put down a significant amount of personal or business collateral to back their loan to prove their personal investment in the venture. SBA loans also have lengthy application processes that can extend for weeks or months, requiring applicants to submit years of financial statements and produce receipts for each major purchase the business has made over the course of several years. SBA loans could be a fit for you if your project has a flexible timeline and you don’t need capital on hand quickly. SBA loans also offer flexibility when it comes to the amount of funding available. Many SBA-approved lenders will originate loans up to $5.5 million, the maximum amount allowed by the SBA .

A Small Business Administration, or SBA, loan is a loan of funds from The U.S. Small Business Administration . It’s important to note that the SBA is not the one actually lending small businesses funds – it leans on a vast network of partner lenders to provide approved small businesses with the money they need to get their business off the ground. You will be working with a smaller, local or nationally recognized lender. As such, it can take 1 to 3 months to receive your funds depending on the type and size of your desired loan. However, due to the ongoing impact of COVID-19 , wait times may exceed 3 months due to shifting risk profiles and the sheer number of loan applications under review.

*Toast Capital Loans offer different target repayment terms ranging from 90 days to 360 days, depending on eligibility. The maximum repayment term is 60 days following the end of the target repayment term. Any outstanding balance due at the end of the maximum term will be collected automatically via ACH.

Toast Capital Loans are issued by WebBank. Loans are subject to credit approval and may not be available in certain jurisdictions. WebBank reserves the right to change or discontinue this program without notice.

If you’re interested in the flexibility and speed of an alternative loan, consider applying for a Toast Capital Loan. Toast Capital provides eligible Toast customers with access to loans from $5K to $300K that can be used for any restaurant need. Toast Capital Loans have one fixed cost with automated repayment that flexes with sales* – with no compounding interest and no personal guarantees. Once you’ve been approved and signed your Toast Capital Loan agreement, you can expect funds to be sent to your bank account in as soon as one business day**.

Alternative loans may also offer methods of repayment that flex with your daily sales. Rather than requiring you to make one fixed monthly or daily payment for the duration of your loan, alternative loans may offer daily payments as a fixed percentage of your credit card sales , so that payments ebb and flow with your business’s sales, making it easier for seasonal restaurants to keep up with payments.

For example, where a “brick-and-mortar” bank may look for a business to have been operating for 2+ years and require the owner to have a great credit score, a bank offering alternative loans could accept newer restaurants or base approval criteria on your business’s performance and other factors, rather than your personal credit score.

Some lenders offer alternative loans in order to provide capital to approved business owners; these lenders typically have access to more sophisticated technology than brick-and-mortar banks to determine whether a candidate is qualified, and may offer more flexible repayment options.

When individuals and business owners think of applying for a loan, they usually have a traditional loan from a brick-and-mortar bank in mind, however, alternative loans from bank and nonbank lenders are another great option to consider if you’re looking for working capital or funding to start a new project at your restaurant.

Brick-and-mortar bank loans vary from bank to bank and business to business. Let’s walk through some of the pros, cons, and general characteristics of traditional brick-and-mortar bank term loans.

To help you decide which business financing option is the best choice for you, your restaurant, and your goals, let’s dive into the characteristics of 10 popular restaurant financing options, ranging from restaurant loans to business lines of credit.

Within the wide net of restaurant financing options, these are the ones restaurateurs typically lean on when applying for restaurant financing:

It’s worth noting that when business owners typically think of business financing, they assume all of their options are loans or they’re limited to funding they can receive from a brick-and-mortar bank. Not true! Merchant cash advances, lines of credit, purchase order financing, and invoice financing are all solid restaurant financing options that don’t fall within the loan bucket. Additionally, alternative loan lenders offer a little more leniency and flexibility around eligibility, qualifications, and the pay-back process than brick-and-mortar banks.

It seems as though there are equally as many business financing options as there are reasons to apply for financing. Some financing options are perfect for short-term projects, while others are better suited for long-term business goals.

4) Merchant Cash Advance

A merchant cash advance is where a provider will pay an up-front lump sum to purchase a percentage of an eligible restaurant’s future sales (typically credit card sales).

Unlike a loan where a payment is due to a lender each month, the merchant cash advance purchaser typically recoups the percentage of sales that it has purchased through a more automated approach: The majority of purchasers will collect the money owed to them through a daily ACH (Automated Clearing House) deduction from a bank account.

While most loans will present the cost of capital as an interest rate or APR, the cost of a merchant cash advance is typically presented as a factor, which is a fixed percentage of the amount advanced that is added onto the amount that the restaurant owes the purchaser.

A merchant cash advance is great for businesses that accept credit or debit card purchases. If you’re running a cashless restaurant, this may be a good option for you.

5) Business Line of Credit

A business line of credit works similarly to a credit card: An approved business owner is extended an open line of credit from a brick-and-mortar bank or an alternative lender. As with credit cards, there is typically a spending limit, which must be repaid either monthly or annually before a merchant can draw down additional credit. This option is beneficial for two big reasons:

It gives business owners working capital when they need it and the flexibility to decide how much they need It helps business owners improve their business credit score

TOAST TIP: When exploring funding options, you should also debate whether secured or unsecured debt is best for your business: Secured debt is backed by an asset, while unsecured debt is not. Unsecured debt carries few or no personal guarantees, but it is often more expensive. Secured debt can be backed by a personal or business asset and is generally cheaper, but places more personal risk on the assets of the business or business owner. Loans and lines of credit are two examples of types of funding that can be secured or unsecured.

6) Crowdfunding

Of all the restaurant financing options on this list, crowdfunding is both the newest and the most trendy.

Crowdfunding is a business financing option where new business owners pitch their business idea or product idea to the public in exchange for a benefit – like an invite to the soft opening, a free meal, or a guaranteed reservation once a month – once it has launched. Popular sites for crowdfunding include:

Kickstarter specifically has a full section devoted to restaurants seeking crowdfunding. Restaurateurs looking for the funding to open their first location or the capital to move into the consumer packaged goods space by bottling up their famous housemade hot sauce or jam might want to explore crowdfunding.

Crowdfunding has a lot of benefits, such as the ability to reach a broad investor base, generate buzz through social media, and streamline the fundraising process. Things to consider are regulations around the amount of money an issuer can raise using crowdfunding, fees collected by the crowdfunding service provider (e.g. Kickstarter’s 5% success fee and 3% + $0.20 payment processing fee per pledge, and the disclosure requirements for certain information about the business and the fundraising effort.

7) Asking Friends or Family Members

Ah, ol’ reliable. Asking for funds from friends and family is a tried and true way to gain business funding without the red tape application and approval process.

Asking friends or family for a loan requires no credit check, no business plan, no W-2s or work history, just trust. That being said, you will want to heavily weigh out bringing your personal life into your professional life, as well as any conflicts of interest that may arise through business decisions you make that may not align with your lender’s outlook on life. Make sure the investment is well documented and you pick the partner that works for you and your business.

Along with the above seven restaurant financing options, there are three additional options – commercial real estate loans, equipment financing, and purchase order financing – that could be viable options if you have a project in mind where the specifics ladder up with how these sorts of funding must be used.

8) A Commercial Real Estate Loan

As real estate costs continue to rise, it’s getting harder to be able to afford rent on brick and mortar restaurants in an attractive location. If you’re an existing restaurant expanding by incorporating a new location or renovating your restaurant with a fresh new look, or you’re a new restaurant looking to purchase your restaurant location outright, decide whether it’s worth applying for a commercial real estate loan to help you shoulder the costs. Keep in mind that most lenders will be laser-focused on your restaurant’s financial health. Since real estate loans are generally big-ticket multi-year agreements, your cash flow and overall flexibility could be significantly impacted.

9) Equipment Financing

Whether a valuable piece of equipment broke or you’re looking to upgrade, equipment financing is a great option to get capital for restaurant equipment related projects. Here’s how it works: An equipment financing lender either sells you the piece of equipment you need or gives you the funds to buy it, and then you pay them back in monthly increments (plus interest). Some equipment financing companies will also let you take out a loan against your paid-off equipment to fund small projects within your restaurant, known as a sale leaseback. Sale leasebacks tend to have very low interest rates and attractive repayment terms compared to other sources of funding.

10) Purchase Order Financing

Looking to expand into new revenue streams, introduce your brand to new audiences, and grow profits? If you’re a restaurant with a signature product – like a hot sauce, bbq sauce, jam, or seasoning – that guests adore, testing sales in grocery stores and other brick and mortar retail locations as a consumer packaged good (CPG) could be a viable revenue option for you.

Purchase order financing gives restaurants that have already taken orders but need additional capital to fulfill them the funds they need, so it can be a good fit for brands looking to expand into the catering or consumer packaged goods space who may need help scaling to meet demand.

Now that you’ve got a better idea of the business financing options available to new and existing restaurant owners and how they work, your next question is likely about how to choose which restaurant financing option is right for you.

10 Bank Loan Requirements You Must Be Prepared For (And Why)

For small businesses, having additional financing can be imperative. Without it, you might be unable to afford payroll, inventory, equipment, and other necessary costs. Due to this, many business owners decide to apply for bank-issued loans to fulfill their financing needs.

Sadly, you’ll need to meet many specific bank loan requirements to qualify. In most cases, small business owners have difficulty meeting all of them. Or, even if they do, the process takes too long, especially if they have an immediate business need.

This blog post will detail what a typical bank will expect from a small business loan applicant. After reading this blog post, you can determine if this is the right financing option for your small business.

Are You Aware of These Bank Loan Requirements?

1. Purpose of Loan

While some lenders don’t have usage restrictions, most will want to know how you plan to spend it. For instance, some businesses experience resistance from banks when they apply for a loan to reduce existing debt. Also, to qualify for SBA loans, you’ll usually have to prove that you need funding for an approved cost.

In comparison, banks usually approve of businesses using loans for the following reasons:

Improve Cash Flow

Purchase Equipment

Pay for Expansion Projects

Purchase Inventory

Use as Payroll

Don’t want to worry about a bank critiquing how you wish to use your loan? Consider applying for financing from an alternative or online lender. Typically, these lenders won’t have usage restrictions, so you’ll be able to utilize your loan how you see fit.

Business owners often prefer to work with alternative business lenders because they can use their funding however they decide, instead of spending it on one specific, pre-approved cost.

2. Business Experience

When reviewing your loan application, banks will consider how much experience you have. If you’ve owned your business for years and have managed your company’s finances responsibly, this will be in your favor. However, if you’ve recently opened your business or have struggled financially, this could be detrimental.

Ultimately, bankers will be more likely to approve your application if they think you’ll remain successful after receiving your loan. If the bank isn’t confident that you can submit your monthly payment on time and in full, you probably won’t get approved.

3. Business Plan

When applying for a bank loan, you may need to submit your business plan. Although it may seem tedious, your business plan can help the bank determine the right loan amount and term for you.

Before submitting your business plan, make sure that it accurately reflects your business’s finances, goals, and other relevant information. You might even benefit from having a fellow entrepreneur review it so that they can provide feedback.

4. Credit History

When considering your business for a loan, a bank will conduct a credit check. They’ll do this to determine your personal and business credit scores. Personal credit history especially matters for companies that operate as proprietors or partnerships. In both cases, the business owner assumes partial or complete financial responsibility.

Before applying for a bank loan, make sure that you know both scores. If your scores are below the minimum requirements, you can work to raise them before applying.

You should obtain a personal credit report from the three major credit unions (Equifax, Experian, and TransUnion). In addition, you can determine your business’s credit score by requesting a free Business Information Report from Dun & Bradstreet.

If you don’t have an excellent credit score, you might not get approved for a bank loan due to the bank’s credit requirements. Or, even if you do qualify for a business loan, it might affect the interest rate. Instead of wasting time applying for bank-issued financing, you might want to pursue other business financing options.

Some lenders specifically provide bad credit business loans or are more open to working with business owners that might not have an excellent score. Again, this is why weighing your funding options is crucial before deciding.

5. Personal Information

Even though you’ll be borrowing money for your business, some personal information could affect your ability to qualify. As we mentioned in the previous section, your personal credit score will affect your eligibility. In addition, banks usually also request the following personal information in your application:

Addresses

Criminal record

Information on your education

Tax returns

Financial statements

Assets

Personal Loan Balances

6. Financial Statements

In addition to personal financial information, you’ll also need to submit your business’s financial statements. The number of statements will vary depending on the bank you’re applying to and their requirements.

Most banks will require the following documents:

A balance sheet

Accounts receivables

Profit and loss statements

Cash flow statements

Income statements

Business bank account balances

Other financial projections

Once submitted, the bank will analyze these documents to determine whether you are a strong loan candidate.

7. Collateral

Even if your business or personal credit history falls below bank loan requirements, you could still receive financing by submitting collateral. Banks define collateral as business or personal property that you put up to guarantee the repayment of a loan.

The bank will match collateral with the value of the loan you want to obtain. Banks typically seek structural collateral for larger loans, such as a home or an office. For business collateral, lenders also consider equipment and inventory.

Other forms of collateral include automobiles, expensive jewelry, and high-end antiques. The expected useful life of your collateral must match the lifespan of the business loan.

If you’re taking out a loan for a specific type of equipment or inventory, that object may be considered collateral. For example, if you’re taking out an auto loan, you could use the automobile as collateral if you can’t repay your loan.

8. Cash Flow

When evaluating applications, banks’ primary financial concern involves business cash flow. Does your business generate enough cash flow to repay a bank loan on time? The bank will ask you to present information about your primary business cash sources to determine this. Most banks understand that managing cash flow is a common challenge for business owners, especially entrepreneurs that own seasonal businesses.

9. Information on Outstanding Loans and Other Debts

Many business owners apply for a small business loan before paying off their outstanding loans and other business debts, such as their credit card balance.

Although the need for additional financing is understandable, applying for another loan can hurt your credit in many cases.

In addition to your debts, you’ll also need to maintain your business, which probably includes

Rent payments

Inventory orders

Payroll

Other ongoing costs

Understandably, lenders don’t want to take on clients with outstanding debt because they likely won’t be able to repay their balance in their set loan term. Due to this, you might not qualify if you have a loan balance that you still need to finish paying.

10. A Personal Guarantee

If you’ve applied for a personal loan, the lender may have asked you to sign a personal guarantee. In some cases, you may need to sign this document to secure a small business loan from a bank.

This document is a written promise stating that you, as the business owner, will repay your small business loan using your personal assets if your business can’t pay its loan balance.

The bank may require you to pledge specific assets for additional security in some cases. These collateral assets may include your personal finances, home, or investment accounts.

Next Steps: Consider Your Business Financing Options

To receive a bank loan approval, the small business loan requirements you must meet might appear intimidating. However, with careful planning, your small business may be able to obtain financing successfully.

If you don’t want to go through the tedious bank loan application process, it might be good to apply for a business loan from an alternative lender. You can still receive the business financing you need but won’t go through a long, complicated application process.

Editor’s Note: This post was updated for accuracy and comprehensiveness in February 2022.

A Guide to Law Firm Financing and Law Firm Financing Options

Most people find it difficult to talk about finances. Law firm financing is an especially uncomfortable discussion topic for lawyers and legal professionals. But law firm financing is critical for lawyers and legal professionals to learn and talk about, especially when running and managing a law firm.

In this blog post, let’s find out why law firm financing is vital to a law firm’s success, what your firm’s financing options are, and the best types of loans for law firms. With this knowledge, let’s take a step together towards financial competency.

What are the benefits of law firm financing?

Law firm financing vs. law firm loans

Your accountant or Certified Public Accountant (CPA) friend will tell you law firm financing has the power to improve your firm’s cash flow. They’re right—the benefits of law firm financing are significant, partly because this financing structure is uniquely tailored for lawyers and attorneys.

For example, banks won’t acknowledge unearned contingency fees as collateral. Bank loans can take a long time for lawyers to secure. But traditional bank loans would not work if your firm needs capital quickly.

Law firm financing and non-recourse capital

Law firm financing allows attorneys and law firms to get paid for future income by using non-recourse capital, as explained below.

What is non-recourse capital? It’s also known as non-recourse finance. Non-recourse capital is a type of commercial lending that allows the lender to receive payment only from the project’s profits the loan is funding. The lender can’t receive payment from any other assets of the borrower. Another benefit is the borrower does not make fixed payments.

When it comes to getting paid, law firms face unique challenges. Depending on the lawyer’s financial situation and area of practice, applying for law firm financing could help solve the problems around law firm collections.

Grow your law firm faster with law firm financing

Your firm’s growth depends on what resources you have to scale your business. Law firm financing can help. In particular, external law firm funding can provide you with the capital required to invest in practice management software, hire a paralegal, build a virtual law firm, and more.

Improve your law firm’s cash flow

Your firm requires consistent cash flow for hiring, marketing, client intake and acquisition, and more. Good cash flow is also essential for growing your firm. Pausing marketing campaigns and other business operations due to cash flow problems can have detrimental effects on future business. Law firm financing can help you ensure you have enough funds to maintain revenue-generating activities.

Reduce financial risk for your law firm

With high interest rates, taking out a more traditional loan can be risky. In fact, interest rates can be anywhere from 27% to 60%. And oftentimes, the interest rate is compounded monthly.

Offer your clients a better client-centered experience

With more working capital—thanks to law firm financing—you can provide clients with the option of flexible payment options, also known as alternative fee arrangements. Unbundled legal services, subscription-based models, and fixed fee billing structures are all examples of alternative fee arrangements. Specifically, according to the 2020 Legal Trends Report, fixed fee billing structures ranked highly among consumers when asked what makes a lawyer hireable.

How do you finance a law firm? You can finance a law firm with law firm financing—also known as law firm funding. Law firm financing is a financing structure specifically created for lawyers and legal firms. Some of the best ways to finance a law firm include law firm loans like Small Business Administration (SBA) loans, business loans, and private equity. In addition, you can finance a law firm through credit cards, lines of credit, revenue, and personal cash.

Read on for more information on the best loans for law firms and what your firm’s financing options are.

What are your law firm’s financing options?

Personal cash

Cash savings, retirement funds, and home equity loans are some ways you can financially support your law firm using personal finances.

Putting personal money—opposed to other forms of financing—into a business has its advantages and disadvantages. If you have the financial means, using personal money is a great option so long as you are careful. No matter your circumstance, you need to carefully assess the risk of putting personal money into your firm.

You also need to be aware of tax implications if you finance your firm using your own money. We recommend working with a small business financial expert if you do choose to finance your law firm with personal cash. These financial experts can help you take advantage of any grants, low-interest financing, or tax incentives you’re eligible for in your state.

Revenue-based financing

Revenue-based financing allows firms to raise capital by pledging a percentage of future revenues in exchange for money invested. Law firms give a portion of earned revenue to investors at a pre-established percentage until the firm pays part of the original investment back.

What are the pros of revenue-based financing? It’s often faster than other law firm financing options. Also, some revenue-based financing firms will allow you to pay based on monthly cash flows.

Lines of credit

Like a small business loan, an unsecured line of credit gives a law firm access to money to address any business expense. In comparison, small business loans require law firms to put a lump-sum payment into the account when opening. Then, law firms need to provide monthly payments to the small business loan account. With lines of credit, firms need not necessarily provide monthly payments.

For example, a small business line of credit involves a credit review and annual renewal. It’s revolving, like a credit card—this means interest starts accumulating once you remove funds. Also, you can borrow up to the amount you pay (except for interest) again as you pay your balance. Similar to a credit card, the lender will set a limit on the amount you can borrow.

Credit cards

Nearly half of all small businesses in the US use personal credit cards. And according to MasterCard® research, many of those small businesses fail to separate business and personal expenses. A significant risk to using a personal credit card to finance your business is that you are personally liable for any debt you acquire. While the lower interest rates of a credit card might be enticing, your firm might not be generating lots of revenue at the start. And racking up credit card debt might exempt you from other options of borrowing in the future.

Law firm loans

Newer firms might not qualify for business financing. Banks will want proof of business credit and assets as collateral—if you don’t have this, there are other options. Besides the traditional business loan, you can take out a personal loan from a bank. Or asking friends and family is another option, although this is not feasible for many law firm owners.

Regardless of your financial situation, you can choose from many different loans, each with its unique advantages and disadvantages. Let’s discuss these different loans in more detail below.

What are the best loans for law firms? Choosing the best loans depends on how much capital your law firm needs and the amount of time you will take to repay it. Law firm financing offers many advantages because of its specific structure to attorneys and their legal work. The best types of loans for law firms include Small Business Administration (SBA) loans, business loans, working capital loans, and business acquisition loans. We’ll go into more detail about these types of loans below.

What types of loans are the best loans for law firms?

Small Business Administration (SBA) Loans

Pros: SBA loans often have the reassurance of interest rate caps.

Cons: SBA loans can include long loan closing processes and significant collateral requirements.

Business loans from a financial institution

Pros: If you already have a good relationship with a bank, they might be able to offer you additional financial services and other perks if you take a loan from them.

Cons: New business owners can find it tough to qualify for loans through banks. Also, the application processes are usually long. Additionally, your assets are at risk if you can’t pay the loan back.

Working capital loans

Pros: Borrowing and repaying is quick—you won’t need to plan for repayments for months or years. Cons: Just like acquiring a traditional business loan from a financial institution, you might have to use collateral if you can’t pay the loan back. Additionally, the lender may charge you high interest rates. Shop around to avoid getting trapped with high interest rates.

Private equity

Pros: Private equity firms can help you assess all areas of your business. Of course, this can also be a con (see below). Additionally, private equity firms have vested interests because they have investors to pay back. Ultimately, these private equity firms will want the best for your firm in terms of revenue generation. You can also often secure much more financing from private equity firms than other institutions.

Cons: It is up to you to ensure you don’t sacrifice providing a client-centered experience for law firm revenues. Better yet, show the private equity firm how prioritizing the client’s needs will support reliable business growth.

While securing more funds is a big win, this money comes at a cost. In some instances, you might have to give up management control or ownership stakes. The equity firm might steer you away from your law firm goals based on your values and beliefs.

Short-term loans

Pros: In most cases, you can count on receiving your loan quickly. Another advantage—short-term loans are easier to qualify for and have shorter applications.

Cons: Short-term loans usually come with high interest rates, creating a higher likelihood of incurring debt and require frequent payments.

Merchant cash advance (MCA)

Pros: MCAs don’t require you to use collateral to secure funding. The amount you also owe never increases—interest doesn’t accrue, and there are no late fees.

Cons: Annual percentage rates (APRs) make this loan one of the most expensive borrowing options. APRs are the annual rate of interest that investors charge borrowers. Often, MCA lenders will deduct payments directly from your credit card receipts daily. This daily deduction can significantly harm your cash flow. Firs- time small business owners should especially consider these risks.

Accounts receivable financing

Pros: Accounts receivable financing doesn’t require you to use collateral to secure money. Additionally, unlike private equity loans, you will maintain complete ownership and control of your business.

Cons: Rates for this kind of financing are likely higher than others. Be sure to go through lengthy contracts for this type of financing thoroughly.

Business acquisition loans

Pros: This is another financing option that doesn’t require collateral. Business acquisition loans are helpful long-term solutions, unlike some of the fast, short-term financing options mentioned above. You can also get approved fast–sometimes in as little as 24 hours.

Cons: Lenders will require cash flow and credit score checks. Interest rates can vary, so be sure to shop around to get an idea of the average interest rates. Occasionally, business acquisition loans will require you to verify that you’ve pursued other types of financing before. Or they may also require you to prove if there was an owner of the firm before you—you’ll need to show proof that they no longer have any stakes in the business.

Know your short and long term financial goals

When starting and running a law firm, you need a written financial plan to forecast critical financial aspects of your business. Having a comprehensive law firm business plan will also help you understand your expected cash flow. A business plan may also include information about the financial health of your firm. The more objective and accurate information you have in these plans, the better prepared you are to select the best law firm financing framework for your firm.

This is a big project, so working with financial advisors and accountants with proven success with small business owners is a great idea. Preferably, you’ll work with financial vendors who’ve worked with attorneys who also started their own firms

Some non-profits or other organizations also offer valuable resources, business plan templates, and even discounted services to lawyers looking to start their own small businesses.

Law firm financing is integral to expanding your business

When it comes to law firm financing, you need to investigate all of your options. Take your time making the best financial decision for you, your law firm, and clients. This guide to starting your own law will help you identify what you need to do when getting your law firm up and running.

Get familiar with the various financing options outlined above, and talk to professionals. Finding a legal mentor who has started their own firm is also an excellent way to learn about their challenges and wins.

Note: The information in this article applies only to US practices. This post is provided for informational purposes only. It does not constitute legal, business, financial, or accounting advice.

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