Susan Dunn

Law firm financing: options and pointers to give you the best chance of securing the financing

There has been much discussion about law firm financing and ownership. There is an increasingly wide base of potential "lenders", who all have different drivers which dictate the terms they are able to offer. At Harbour, we have many approaches for law firm financing, for a multitude of purposes, not just litigation. What is clear, is just how relatively limited the levels of understanding are about the options, terms, terminology and impacts of different types of financing. Firms must put the necessary groundwork in place before soliciting financing, to maximise their chances of securing the lending. This article is intended to remove some of that mystery and also a checklist of information a firm should prepare before approaching a finance source.