Law Firm Funding
Law firms are exactly the type of business for which SBA loans are designed. A law firm that can demonstrate a clear, profitable business plan and ability to repay a loan may nonetheless be denied financing that could truly benefit its business. Even the most lucrative, well-established legal practice faces difficulties in the traditional financing market.
First, law firms often have uneven cash flow due to the case-specific nature of legal practice. Due to our unique experience in law firm funding, we are able to structure loans specifically for contingency based law firms. For example, a firm may front all expenses in a case that generates income contingent upon its successful conclusion, which may take months or years. A bank issuing a traditional loan considers this normal method of operation a risk factor. However, because SBA loans are geared toward small businesses, risk factor assessment is not as strict.
A traditional bank loan for a law firm is often encumbered by high interest rates, onerous monitoring conditions and inconvenient payback terms, while an SBA loan comes with low interest rates, reasonable oversight and fair terms which are favored by lawyers and practitioners in the United States.
SBA Funding helps law firms take advantage of the highly accessible Small Business Administration loans process to obtain low-cost SBA loans.
Our experience in the law industry helps us specialize in packaging loans designed for law firms.
Find out how we may assist you with an SBA loan, speak a specialist now. Call us now to find out how easy it is to qualify! (888) 416-9307.
*SBA funding is not affiliated with the U.S. Small Business Administration, we are a packager that helps expedite and process SBA loans.