Banking for Professional Services
Solutions for Law Firms and Accounting Practices
Starting, growing or exiting your practice? Our experienced bankers offer financing and banking solutions for every stage in your business journey – from funding growth and technology investments to managing cash flow, invoicing clients, collecting payments and protecting your business from fraud.
Check out our offers
Special savings
Save $150 with no annual fee for the first year on a new business line of credit footnote 1
Plus, additional savings are available through our relationship rate discount footnote 2 and our automatic payment rate discount. footnote 3 Ask a BMO Business Relationship Manager how to apply.
Rate discount
If you’re looking to transition to more sustainable operations, receive a 0.50% rate discount on new qualifying BMO Greener Future Financing business term loans, business flex loans, owner-occupied commercial real estate mortgage loans, or investor-owned real estate loans. footnote 4
Plus, additional savings are available when you set up automatic payments from a BMO business checking account. footnote 3 Ask a BMO Business Relationship Manager how to apply.
We’re here to help you
Launching or growing your firm? We have you covered with a range of financial solutions.
Optimize your cash flow to plan for cyclical cash fluctuations.
Collect and deposit client payments quickly and securely.
Discover flexible funding options, so your business gets the support it needs.
Streamline financial reporting with multi-user access, detailed transaction reporting and fraud protection.
Explore our personal finance solutions such as Wealth Management, Financial Planning and Bank at Work.
Our current offers
Annual Fee Waiver
The annual fee for the first year on a new business line of credit will be waived - a savings of $150. footnote 1
Relationship Rate Discount
Receive up to a 1.00% rate relationship discount. footnote 2
Automatic Payment Discount
Get a 0.25% interest rate discount when you establish automatic payments from a BMO business checking account at loan closing. footnote 3
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Professional Services F A Qs
Yes, BMO offers IOLTA‑compliant trust accounts with no monthly fees, detailed transaction reporting to support client fund management and bar compliance, and interest that is automatically remitted to the state‑designated IOLTA fund.
We understand accounting practices’ seasonal revenue surges around tax deadlines and their lulls in the summer months. Our lines of credit and cash management tools help accounting firms smooth these cycles and meet payroll year-round.
Yes. We offer term loans and SBA loans for practice purchases, buy-ins, and buy-outs, and can also connect you with valuation professionals, legal advisors, and other professionals in our network who support practice transitions.
BMO bankers are experienced in supporting law firms and accounting practices. We understand how these firms operate financially, from trust requirements to seasonal cash flow patterns, and we bring the resources of the 8th largest bank in North America to firms of all sizes.
We offer invoicing solutions and tools to help collect and deposit incoming payments promptly. This includes debit and credit card acceptance, electronic deposits, ACH debits, and accounting software integration to track receivables. Explore BMO’s Treasury & Payment Solutions page to learn more.
Business lines of credit can give practices the flexibility they need to cover temporary, budgeted, or unexpected cash shortages. BMO also offers solutions to help you bill and collect payments promptly.
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- Footnote 1 details Annual fee of $150 will be charged for the business line of credit beginning on the 12-month anniversary of the opening of the business line of credit. BMO customers who meet minimum deposit balance requirements at the time the business line of credit is approved may qualify for additional annual fee waivers.
- Footnote 2 details Relationship rate reduction availability is dependent on your customer deposit relationship with BMO at the time of credit approval.
- Footnote 3 details Automatic payment from a BMO business checking account is required to be established at loan closing in order to receive the 0.25% rate reduction.
- Footnote 4 details Eligible applicant for the BMO Greener Future Financing Program must submit a paper application form for a new qualifying business term loan, business flex loan, owner-occupied commercial real estate mortgage loan, and/or investor-owned real estate mortgage loan. For businesses with annual revenues of $10 million or less and total combined credit exposure at BMO including the current application request must be greater than $100,000 but cannot exceed $1,000,000, and must have a physical business presence (or in the instance where the business has no physical location, a mailing address for their headquarters) located in at least one of the following states: A Z, C A, C O, F L, I D, I L, I N, I A, K S, M I, M N, M O, N E, N V, N M, N D, O K, O R, S D, T X, U T, W A, W I, or W Y. Businesses located in M I or T X must be within 100 miles of a BMO full-service retail branch. Loans are subject to credit approval. Applicants approved for flex loan must have a BMO business checking account opened before loan closing. Loan funds must be used for environmentally responsible projects. See a BMO Business Relationship Manager for a complete list of eligible purposes. Applicants will be required to self-attest that the loan funds will be used for an eligible loan purpose that helps to reduce greenhouse gas emissions from business operations, mitigates the physical impacts of climate change or promotes sustainability in their business operations. Offer is subject to change.
- All offers are subject to change.
- Banking products are subject approval and are provided in the United States by BMO Bank N.A. Member F D I C. Equal Housing Lender