Accountants and accounting firms play a critical role in small business financing.

Of course, they won't be lending you their own money – but their talents may determine whether banks and other lending institutions will make a bet on you.

Most importantly, your accountant will pay an integral role in helping you to assemble the information you will need to secure a business loan.

As part of the fundraising process, your accountant will need to draw up a list of the assets the business will offer as collateral for the loan. If you don't have business assets to pledge as collateral, you may have to pledge your personal assets.

The lender will typically also ask your accountant to provide a complete list of your present debt obligations, as well as a use of proceeds summary that explains how the money will be used.

Finally, pro forma financials that include the repayment schedule on the business loan are often required to show how future cash flows will accommodate repayment of the debt. While this may sound daunting to you, it's routine work for a good small business accountant.

The data that you and your accountant provide to the lender shows the financial condition of the business and demonstrates your ability to repay the loan.

Remember, lenders are focused on two things: (1) determining whether the business has adequate collateral to secure the loan and (2) confirming that the business will be able to repay the loan.

Your accountant will also help you to figure out what kind of loan you need. For example, an accountant can advise on whether you need a short or long term loan.

In addition, your accountant may introduce you to a banker who knows and respects his or her financial judgment. If the accountant has a good relationship with the banker, it can make it a little easier for you to get your loan.

Certainly, you can do all of this without an accountant, but a good accountant can handle much of the work for you. After all, you still need to keep your operations running smoothly while you raise money to take the business to the next level.