LAW FIRM FINANCING
Did you know that more than half of small law firms in the U.S. have trouble getting paid? Considering this statistic, it’s no surprise there will come a time when your law firm will need some type of financing to help bridge the collections gap. Whether you’re looking to expand your firm, get through a contingency lawsuit or obtain access to everyday working capital, law firm financing can help.
Financing Your Law Firm for Success
You probably already have a specific reason for searching for law firm financing. However, you don’t have to limit yourself in the way you use your law office loan. Here are a few reasons you might consider applying for a small business loan for your law firm:
Advertise Your Legal Practice
When you’re looking to grow your firm, marketing your practice can be crucial to obtaining new clientele. Sometimes, though, finding the extra funds to market your company the way you’d like can be challenging. A law firm loan can provide you with funds for the following types of advertising:
- Local circulars
Pay for Unexpected Expenses
Unexpected (and costly) expenses pop up all the time in business. Whether you’ve maxed out your business credit card or want to avoid touching your working capital, small business loans for attorneys can help. Examples of unexpected expenses you might encounter include:
- Private investigator fees
- Continuing education
Your business bank account might be lacking while you’re waiting on clients to pay their legal fees. Law firm financing can help you get through the slumps. Use funds to pay for:
Renovate Your Office
Maybe you have the most clients you’ve had in years and business is booming. You want to update your decades-old decor to demonstrate your firm’s contemporary style and success. However, you don’t want to tie up your business’s cash reserves to do so. With a law office loan, you could revamp your reception area, conference rooms, back office and restrooms. Purchases might include:
•Printers and copiers
How to Get Law Firm Financing
After your submission has been processed, our Business Consultant will reach out with the status and timeframe for approval.
Receive Your Law Firm Loan Funding
Upon approval and your acceptance of the offer, funds are deposited directly into your bank account so you can use the money immediately.