Business Loans for Legal Services

As a legal professional, you have years of education and experience dealing with legal troubles both in and out of the courtroom.  When it comes to dealing with financial troubles, however, you might feel out of your league.  Don’t let a financial setback give the final verdict for your practice.  Here are some of the ways we help support legal practices in Springfield and its surrounding communities:

Loans for Upfront Costs

Legal cases often require substantial work and investment long before any revenues are earned or received.  Whether it is your first case or your hundredth case, don’t let the upfront costs of a particular case keep you from accepting it.  We have short term loans to help you pay for research, court fees, and any other expenses you might incur during the early phases of a case so you can focus on finding the truth and bringing it to light.

Technology & Expansion

While the legal field is not generally considered a highly technological industry, there are still costs to keep your office running.  Computers and other equipment need to be upgraded or replaced on a regular basis.  There may also be training costs once those upgrades take place.  Whatever your situation, we can draft a short term loan with affordable terms to cover these costs.

If cases are piling up on your desk, it might be time to expand your office.  Whether you only  need more employees or also need space for them to work, we have both short and long term loans to cover everything from recruitment costs to the construction of a new office space.  Don’t let a lack of funds keep you from expanding and modernizing your firm - call us today to find the perfect loan for your needs!

Business Lines of Credit

While every business experiences seasons in which revenues fall short of expenses, this can be especially true in the legal field.  It can take years of work to finally close a case, then several more months for payment from the settlement to come through.  Even small, routine work is typically billed with payment terms, so you don’t see the money until several weeks after the work is complete. 

You can’t wait weeks to pay your employees and electric bill, however.  A business line of credit provides funds when you need them and only when you need them.  As soon as that settlement payment arrives, you can pay off the line and not accrue one more day of interest.  Lines of credit also have low interest rates, so they are much more cost effective than financing expenses with a credit card.  Don’t wait until you find yourself in a financial bind to look for solutions.  Call us today to establish a business line of credit, and when cash flow gets a little tight, you will already have everything you need to continue offering your services to the people of Springfield.

Ready to apply for a business loan?  Our lending experts are here to help!