The costs of running a law firm rack up very quickly. Between marketing, office leases expenses, payroll, and case expenses, you incur a lot of costs before even stepping foot into the courtroom to defend your client.
To fund these expenses, attorneys choose to invest their own money or acquire a loan from their local bank. With Fund Capital America, a third and better alternative is available; a working capital line of credit.
What Is A Working Capital Line Of Credit?
A working capital line of credit is a line of credit available through Fund Capital America to help you fund your law firm. Whether you need help with case financing or simply running the day-to-day operations of your legal firm, this working capital line of credit will be available for your business needs.
WHY CHOOSE A WORKING CAPITAL LINE OF CREDIT?
You may have been looking at different options for funding your law practice and understanding the reasons behind each available option is crucial to your decision. Here are the perks for why you would choose to use a working line of credit for case financing:
- Lower Interest Rates
Unlike a traditional loan provided by banks, this line of credit through Fund Capital America has an annual interest rate of less than 1%. At a regular bank, these same interest rates will be between 5%-8%.
- Post-Tax Profits
With the help of Fund Capital America, you will no longer have to wait till retirement to cash out on your investment into the firm! FCA has a set up system that allows you to collect profits and get your money back after the settlement of each case you finance.
- No Money Down
Fund Capital America does not require a downpayment for you to qualify for case financing. This is a great benefit for those whose practice is struggling or for those who are new to their career.
- Generous Loan Sizes
Whether you need $300,000 or $8,000,000, Fund Capital America will help you finance your law firm to get your practice running.
- Easier Expense Tracking
The tracking system provided by the online platform will give you the ability to account accurately for all expenses and get your money back. It will save time, money, and help you stay organized as you serve your client.
- Fast and Easy Application Process
We know how busy attorneys are and made the application straightforward and easy. It will take a few minutes to apply online and provide the necessary documents. Afterwards, a credit committee will review your application and determine if your practice qualifies for a working capital line of credit.
The best part of having an available line of credit for your law firm is that it frees up your mental space to think about your client’s case. No longer will you be stressed about daily expenses because the loan is there to help you out. Because of the very small interest rates, you will pay back only what you borrowed. This will allow additional funding for your firm and a better, faster way to retirement.