Business Loans for Attorneys
Attorneys often have limited capital options because many lenders consider the legal field a restricted lending industry. We have several fast and easy business loans for attorneys.
Apply below.
Call 919-771-4177 for more info.
1. Avoid restrictions for Attorney practices .
2. Fast funding and limited closing conditions.
3. Multiple programs, including bank statement loans
4. 2 Months and up to 10 years
5. Knowledge of lending to legal practices
Apply below: For expertise assistance to help your legal practice get business funding now, including larger business loans.</span
Call 919-771-4177 for more info.
Author Biography: Will Sanio, Owner of SCF Funding, dba SmallBusinessLoansDepot.com, has a Bachelor of Science Degree in Finance from the University of Tennessee, Knoxville.
Over 20 Years experience including 10 Years with Wells Fargo, formerly Wachovia Bank and First Atlanta Bank. Specializing in Traditional and Alternative lending.
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Funding Program Details:
Legal practices often have trouble getting funding. But why is that the case?
It is because Attorneys often use their legal expertise to litigate with the lender if they go past due or default. They have the knowledge to easily litigate their case, and as a result, cause significant expense to lenders.
Therefore, many lenders do not provide capital to the legal profession. Customers that are not in the legal field don’t file legally challenges nearly as quickly, or at all, compared to legal practices. Lenders are more likely to resolve past due accounts and at lower cost when not faced with quick litigation.
This is the main reason many investors consider this a restricted industry and will not lend to it.
Examples of 2 offers:
A law firm is declined by both traditional and alternative lenders due to business type and they apply for one of the specialty funding options.
The firm generates $3,000,000 per year. Through our programs, they could receive two offers.
Offer 1: A $100,000 short term 9 month working capital cash flow option. The practice makes a weekly payment for 36 weeks. They have renewal options after 18 weeks and can use the capital similar to a business line of credit.
Offer 2: A $75,000 longer term offer up to 5 years. This option has a monthly payment and excellent early payoff options. The customer can payoff the funding anytime after closing and pay no additional interest.
The majority of these customers use the funds between 6 and 18 months.
FAQ on business loans for Attorneys.
Can I get funding for my legal practice?
Your law firm can get capital in the name of the practice. There are multiple legal practice programs available to choose from.
How much can our practice get?
Offers normally range between 50% to 100% of the monthly revenue of your firm. Time in business over 1 year and credit scores over 600 may bring weekly or monthly payment offers, depending on your business profile.
Why do so many business lenders not fund to Attorneys?
Attorneys have the expertise and ability to heavily litigate disputes, past due account and defaults at low cost. Many lenders have experienced this with legal practices and therefore have had more difficulty dealing with past due accounts for legal practices.
Conclusion
Attorneys often have limitations and restrictions on funding options for their business.
As a result, they should choose specialty financing options detailed here that specifically fund legal practices. Our programs have expertise with the legal field and can tailor funding options for your particular practice. Don’t be denied funding when you need it.
Establish a relationship with a lending partner that wants to lend to your law firm and will be there in the future when you need them.