Attorney Loans Offer a Variety of Advantages

Katarina Siegfeld | March 21st, 2014

Attorney Loans Offer a Variety of AdvantagesThere are times when an infusion of capital can make all the difference between a struggling and a successful law firm; that’s where attorney loans come in.  As a lawyer, you may have many reasons for needing temporary funding.  A case takes longer than expected to reach a conclusion or settlement funds take some time until they are paid.  It’s possible that you need funding for a high profile (and particularly expensive) case.

Whatever the reason, attorney loans can keep your firm going in the meantime or even take it to the next level of professional standing: a smart business choice.

What are attorney loans?

The term attorney “loans” can be confusing, because they are actually much more like a cash advance that provides temporary funding until you are able to return the money. While such funding is available for plaintiffs, law firms also require short term solutions to cash flow problems that may include different types of financing like a line of credit or funding for a particular case.

Advantages of attorney loans

Attorney loans offer a number of advantages to lawyers depending on their particular needs.  The major advantage is that they allow legal professionals to concentrate on what they do best, preparing and arguing cases for their client, without having to nickel-and-dime their way through the work that needs to be done.  This allows them to maintain a professional focus that leads to success in all areas, including financial success.

Loans for lawyers can fund cases that require top-notch investigation and the procuring of expert witnesses. Not having to worry about money can free you to pursue such high profile cases without being weighed down by financial concerns.

Attorney loans can also fill in the gap as you wait for the payout from a major settlement that is taking time to come through.  Your firm can continue with normal operations without suffering through a belt-tightening period that can hinder your ability to function.

Such loans can also help new attorneys in the early phases of building up their practices, and financial payouts aren’t coming in as regularly as they will at a later period. Loans for lawyers in this phase of their career will help to fast-track an up-and-coming firm so that they are on a more secure footing sooner.

Lawsuit loans for lawyers

The decision to apply for an attorney loan can be a crucial one for the success of your firm.  But it is not one that you need to make immediately.  Once you have decided that it is the right decision for you, consider that LawStreet Capital offers some of the lowest interest rates available to help your firm reach its potential.

If you see how lawsuit loans for lawyers could benefit your practice financially, contact LawStreet Capital at 1.866.FUND.662.  The call is completely confidential and there is no fee involved.  A customer service representative can answer all of your questions and begin the application process, which will cost you nothing; once approved for a loan, however, you will receive funds within 24 hours.