Funding for Solicitors
At Law Link, we make it our priority to understand the problems our panel members might be facing and to offer solutions which are appropriate to their needs.
We are able to offer a range of funding options which cover the following areas:
* General finance
* Profit costs funding
* Commercial litigation funding
* Profit costs funding
General finance:
We offer tax efficient funding solutions for equity purchase, office refurbishment, tax bills, PII premiums, IT, vehicles, case acquisition and disbursements along with many other areas. Our expert advice and flexible approach ensures most firms’ needs can be met at competitive rates.
Profit costs funding:
Now also available for portal RTA cases!
Many practices are highly successful, but may suffer from cash flow issues because they have not received profit costs which were agreed weeks or even months ago. Our profit costs funding scheme addresses this issue by advancing a proportion of agreed profit costs to the solicitor in a matter of a few hours. This advance and a small charge for the facility is then repaid when the profit costs are received by the solicitor.
The scheme can now also be applied to RTA cases which go through the portal.
Commercial litigation funding:
Many potentially lucrative commercial cases are not pursued for lack of client funds. This scheme offers the client a funding facility for their disbursement and WIP costs.
The loan is repaid from their award when they case and is fully underwritten by ATE insurance should they lose. There is a one off funding fee and an annual interest charge on the loan which generally works out far cheaper for the client than a contingency fee arrangement
Coming soon……
Disbursement Funding Scheme:
To be launched in January 2011, this scheme has the backing of an international hedge fund and will offer substantial draw down facilities to qualifying practices.
The solicitor draws down an individual loan against a qualifying case which is used to fund disbursements, referral fees and an element of WIP. It is then repaid when the case concludes.
This scheme will allow firms to expand their practice without relying on their own cash flow and is ideal for those who have been turned down by traditional High Street lenders