Funding for Attorneys
Recourse and Non-Recourse Loans
Rapid Legal Finance helps attorneys increase cash flow so they won’t have to turn away business or refer business to other law firms while waiting for their fees. We provide attorney financing, law firm loans, lines of credit, and cash advances by leveraging the attorney’s pending and settled case inventory as collateral.
While banks and traditional lending institutions primarily consider credit worthiness and the cash flow of a law firm as the main factors for financing, we consider the expected contingency fees from pending and/or settled cases. Because of our expertise in valuing contingency-fee cases, we are able to offer significantly higher amounts of capital than traditional institutions. And we do so in less time with little or no risk to the personal assets or credit of the attorney or firm. The funding program we offer is tailored to the law firm’s practice needs.
In addition to recourse funding, non-recourse funding is also available to attorneys and their firms. These advances are contingent upon the anticipated favorable settlement of a group or portfolio of suitable pending cases and secured by an agreement that provides that funds advanced shall be repaid, plus a fee, when the relevant lawsuits ultimately settle. The cost of this type of funding depends upon the length of time the funds are outstanding and the perceived risk of these cases. There are no monthly payment requirements - the advance is paid back only after successful resolution of the pledged cases. Non-recourse funding does not require personal guarantees, nor a pledge of the entire caseload in a law firm’s inventory. For this reason, smaller law firms and sole practitioner attorneys sometimes prefer his type of funding.
Rapid Legal Finance has extensive capital on hand and is readily available to provide funding that best meet the attorney’s or law firm’s needs. Call or email us today and we will review your case portfolio and funding requirements and advise you of your options.
In addition to assisting you/your firm with your funding needs, Rapid Legal Finance also provides cash advances to your clients against the proceeds of their cases. This alleviates pressure on you to accept low settlement offers because of their pressing financial needs. When your client asks you for a cash advance and you are unable to comply because it is unethical and/or prohibited by law, you can get your client the funds he/she needs. Call or email us and we will handle the whole process for your client. It is fast and easy and takes very little of your time. We make funding decisions quickly and provide your clients with the funds they need by wire transfer or overnight mail.
Call or email us to learn more or you can apply here on your client’s behalf.