3 Ways Law Firm Funding Can Give Your Business a Leg Up

attorney business tips

When you need money to expand your firm, launch a new marketing campaign, or cover ongoing expenses, it can be frustrating to be told to wait. Yet, this is often the case for plaintiffs’ attorneys who only realize their fees once a case has reached settlement or verdict–which can take months or even years.

At Thrivest, we offer attorneys a range of customized law firm financing solutions so when you need your money the most, you don’t have to wait.

If you are a plaintiffs’ attorney who is either engaged in litigation, or awaiting payout after litigation has come to an end, read on to discover three ways in which Thrivest’s attorney funding solutions can help you reach your goals.

1. Expand your firm

If you’ve been dreaming of growing your practice but are awaiting the cash necessary to make it happen, law firm funding can help accelerate your firm’s growth. Expanding your practice can allow you to make a bigger mark on your community and the world, while increasing your job satisfaction and that of your colleagues by building up a team and preventing burnout.

2. Launch a new marketing campaign

It’s never a bad time to rev up your firm’s marketing efforts. Whether you decide to sponsor a local event, start a blog, bolster your social media presence, or invest in search engine optimization or pay-per-click search engine marketing, maintaining a strong presence both online and in your community is essential to keeping your firm’s name top of mind and helping new clients find you.

3. Cover ongoing expenses

Business expenses don’t stop coming in just because you haven’t received your fees. Even after successfully resolving a case, there can be post-settlement delays where you must continue to wait for your fees due to factors out of your control such as administrative delays and slow paying defendants.

In such instances, post-settlement attorney fee funding can be a great cash flow solution. You are accelerated a portion of your fee now, when you need it, and you only pay back the advance when your settlement finally pays out.

Attorney financing can help cover day-to-day expenses so you can stay on top of your bills during a lag in payment. There are no restrictions on how the proceeds can be used; you can use your advance to prepare for a new case, pay for daily expenses, or use for an emergency when you are strapped for cash.