Attorney Funding is complex and legal practices are cyclical. Like any other business they require flexible financing solutions. Whether it is an advance on a single settled case or a loan against a group of non-settled cases, Apollo Funding has an attorney funding solution for your firm’s needs.
lawyer funding and case cost financing
Contingency fee attorneys have a particular set of cash flow and financing issues. An attorney can have a string of cases settle and have no need for any type of financing or attorney funding and an extended period with no revenue. Your income is not linear; however, you must continue to invest in your business and overhead. The alternative to using your own money for case costs is to look at alternative law firm funding. A single advance on a pending case or group of cases could essentially refinance your firm.
Flexible attorney advances
Apollo Funding understands the need for timely access to significant amounts of working capital for operational expenses, case costs, trial preparation, and practice development. The most valuable asset of both the sole practitioner and the diversified firm is the future fees. Our expertise allows us to assign full value to each practice’s current cases and projected fees.
To smooth out the back and forth cash flow cycle of the contingency fee practice we have several attorney funding solutions. You can now leverage after tax dollars with no monthly payments to pay for expansion, partners bonuses, and increased marketing.
Fast Process. No Personal Assets Encumbered
you don't need perfect credit
traditional financing vs. contingency attorney funding
Banks require perfect credit, highly liquid assets, encumber partner’s home equity, and often require attorneys to pledge additional assets which ties up their personal finances and credit. The amount of funding approved from banks is often inadequate and only available in bull markets. Commercial banks do not have the expertise or bandwidth to evaluate a contingency fee portfolio. As a result, banks cannot provide law firm loans or revolving credit based on the expected fees from a firm’s pending case inventory. In addition, banks require frequent pay downs and burdensome monthly payments. This creates unnecessary risk and stress for the firm’s partners and case specific attorney funding could be helpful.