Attorney Funding
IN THE UNITED STATES, THERE ARE ABOUT 443,000 LAW FIRMS, WITH OVER 60% BEING SOLO OR SMALL FIRMS. Raise the bar and differentiate yourself from the competition with funding of up to $500,000 to expand your legal practice in as little as 24 hours.
Alternative Attorney Funding You Can Trust
Due to their above-average revenue, robust cash flow and profitability, and reduced margins and overhead expenses, legal firms might be able to obtain the necessary capital from a traditional lender such as the SBA or bank. Nevertheless, there is never a certainty of approval, and the application process can take months. Opportunities to develop and broaden your profession may easily pass you by while you wait.
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Compared to typical lenders, Biz Loans, an alternative lender, is able to approve more attorney funding. In as little as 24 hours, we can approve your attorney funding more quickly and deposit the money. We provide various small business funding options ranging from $3,000 to $500,000 to support the expansion of your legal firm. Regardless of the size of the company, we provide funding for all legal disciplines, including solo practitioners, small practices, and big practices.
Law Firm Funding Rates
The kind of alternative small business finance you receive will determine the attorney funding rates. Instead of using a standard interest rate, the majority of alternative lawyer funding choices use a factor rate. Factor rates, which are derived from your risk assessment, are straightforward decimal numbers that indicate how much "extra" you will owe on the initial loan amount.
Attorney Funding Solutions
OUR KIND, KNOWLEDGEABLE FUNDING ADVISORS WILL COLLABORATE WITH YOU TO SELECT THE BEST FUNDING OPTION THAT WILL SUPPORT YOUR GOALS AND NOT IMPAIR THE CASH FLOW OF YOUR FIRM.
How To Use Attorney Funding
The utilization of alternative attorney funds is unrestricted. The best uses of attorney funds are to support expansion projects that boost your business's income, like:
Investing in modern office supplies to support operations and boost productivity, such as computers or scanners
Remodeling or renovating your workspace to provide a more comfortable environment for customers
Bringing on experts or more support personnel to help with a case or expanding your practice's legal specializations
Developing a new practice or growing your current one
Enhancing cyber security
Putting money into ongoing training and education
Increasing the energy of your advertising and marketing to attract more customers
Law companies occasionally could also require a rapid infusion of working cash to help them handle the particular difficulties in their industry, like:
Extended intervals of accounts receivable
Emergency situations that limit cash flow
Adapting to the quick changes in technology
Practice size: running expenses in a group practice are divided among all owners, whereas in a private practice, the solitary proprietor is responsible for them.
How Law Firm Funding Works
1
Apply
Collect three months' worth of bank statements and other documentation. Give us secure access to the transactional data from your bank account so we can approve it more quickly.
2
Choose Funding
Within an hour (during regular business hours), a financing advisor will get in touch with you to finish your application and go over your funding alternatives.
3
Get Funded
Your money can be authorized and deposited within 24 hours after you and your funding advisor decide which funding option is best for your company.
4
Set Repayment
Your company's debit and credit card sales on a daily or weekly basis will be automatically subtracted to cover payment. The amount of your payment will depend on your sales.
Will You Qualify for Attorney Funding?
The specific qualifications you need will vary depending on the kind of legal funding you're looking for. Biz Loans does not grant attorney funding based exclusively on credit score or financial history. We concentrate on your practice's general well-being, which includes:
Revenue for businesses
Money movement
Payment history of the vendor
Years of operation
Public documentation