LEGAL FUNDING DESIGNED SPECIFICALLY FOR LAW FIRMS

Law firm funding briefing by Baker Street Funding

Baker Street Funding is designed to strategically connect select legal funding opportunities with our extensive network of sophisticated partners and staff with the utmost discretion to you.  These funding agreements are typically referred to as law firm loans, lawyer loans, lawsuit financing or case cost funding. Attorney case funding is a non-recourse investment into your future receivables. Our innovative financial solution for contingency-fee law firms address trial attorneys unique liquidity needs, thereby improving cash flow and profitability. Attorney funding, is convenient for financing large costs that litigation brings.  Litigation funding for attorneys is provided in both the pre and post-settlement timeline of a case.  At Baker Street Funding, we actively maintain strong relationships with top professional allocators in the United States. We take a wholistic approach to the cases we analyze using our combined skill sets to protect your interests and take in all factors for the litigation, including past cases that you have successfully litigated.  

Learn more about litigation funding here >

Your legal funding partner

At Baker Street Funding we strive to develop partnerships with attorneys nationwide and in every state to help provide reliable, quick and efficient legal funding solutions for their clients and themselves. We provide multiple financing options such as pre and post-settlement funding for plaintiffs, and attorney funding for counsel. We understand that clients and attorneys alike need quick access to capital to help drive the maximum amount of value possible out of their cases. For over 10 years we have organically built our business within the finance industry with accelerating momentum. 

Baker Street Funding has been recognized by:

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OUR LENDING PHILOSOPHY

We want to be an advocate for you and your practice

 You strive to be an advocate for your clients and we want to be an advocate for you and your practice. Baker Street Funding provides bespoke financing options for plaintiffs’ firms. Our lines of credit allow you to leverage your future case fees to obtain immediate liquidity and pay for litigation related expenses on new cases. At Baker Street Funding we recognize that contingency fees are solid collateral that can secure the money you need now. Our team of underwriters are all former attorneys with decades of contingency fee based litigation experience and can help you grow your practice. We only charge interest on funds drawn on your line of credit and there are no pre-payment penalties, draw fees or maintenance fees. Contact us to learn more >

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BASICS OF LEGAL FINANCING FOR LAW FIRMS

Non-recourse attorney funding

What is legal funding?

Legal Funding, (also known as litigation financing, legal lending, attorney funding, attorney loans, law firm loans and case cost financing) was developed by attorneys and for attorneys to provide them with access to capital to run their firms, and litigate cases to their fullest potential. Legal funding can be a key asset to contingency fee based attorneys by helping smooth out their income stream, that can otherwise be extremely difficult to manage. Our legal funding options can be customized for each attorney to help fit their time frame demands, case budget and capital needs. Our solutions help you gain access to capital to help build cases without waiting for more mature litigation to settle.

What is attorney funding?

Attorney funding is a type of legal funding that is created specifically for contingency fee based attorneys, representing personal injury plaintiffs and large commercial litigation lawsuits. There are multiple different subsets of attorney funding, including case cost financing, voucher funding, attorney lines of credit and pre or post settlement fee advances.

Law firm funding and your case

While cases involving mass torts, minors, medical mal-practice or delayed settlements are extremely profitable for the attorneys involved, they do run the risk of running out of money before the litigation ends this is why attorney legal funding from Baker Street Funding may be beneficial to you. 

How does legal funding help your practice?

Legal funding can become a great asset to your practice by helping you gain access to case flow to help pay expenses while waiting for a case to settle or go to litigation. While each attorney and firms situation is different, we have created a bespoke solution for every different type of attorney financing need. We can help you manage your portfolio of cases and provide capital based on that portfolio to help with payroll, office space and marketing capital, or we can provide case by case specific financing to help cover discovery costs, expert witness costs, administrative expenses and litigation expenses.

Why use case-cost funding?

A typical case in the litigation process does not go to trial and it takes an average of 20 months to settle. When litigating a case, that timeline extends and there is an uncertainty surrounding whether you will successfully win a judgement. This process makes running a successful practice difficult and attorneys need some sort of financial backstop to help cover costs until their next case settles. Contingency fee attorneys are not guaranteed any economic benefit unless they win their case. If an attorney invests years of time, effort and capital into a case that settles in favor of the defendant, he or she walks away with nothing. 

Law firm loans vs. traditional financing

Many law firms looking for lines of credit approach their local or national financial institution. These banks may provide you with a business loan or a LOC (line of credit). The problem with these products is twofold. They do not take into account the intricacies of running a legal practice and most times do not provide enough capital as is needed. The other issue is that unless your firm has had a long standing relationship with the bank, you will need to personally guarantee the financing. That means you are risking the money you’ve made to help secure the money you need to make in the future. With Baker Street Funding, those worries are taken care of. Our attorney funding process is based on your current and former case portfolio. We also take into account intangible things, such as your previously settled cases. Our funding agreements are non-recourse and thus you never have to personally guarantee our contracts.

A FOCUSED APPROACH TO ATTORNEY CASE FINANCING

Legal funding for attorneys

Assiduity

We have designed our legal funding solutions with attorneys in mind. We know how traditional financing agreements are structured and we have found a solution that is more favorable for our law firm clients. With our bespoke financial opportunities, you will never have to provide traditional collateral such as personal guarantees or real estate. We take your receivables as well as current and former case inventories into account to help structure the perfect non-recourse funding agreements for your needs.

Case cost funding

Funds

Our approval process is quick and easy. Once approved, we purchase a portion of your future receivables, and provide you with either cash or a line of credit immediately. We will normally purchase anywhere from 10-50% of your future fees to secure our investment into your practice. We can make all the funds immediately available or structure monthly investment payments with staggered rates of return. There is no limitation to how you use the capital you take from us, so rest assured that you will be able to enhance your practice in any way you see fit.

THE ATTORNEY FUNDING PROCESS

Review

Law firm funding step 1

Once we receive your legal funding request, we review your application package including your basic information and list of cases.

Diligence

Attorney lawsuit loan step

We proceed with our own due diligence and set up  a conference call to discuss any questions we may have regarding your portfolio of cases or litigation experience.

Approval

Plaintiff funding

Final terms are generated and a legal funding contract is sent for your approval. Once approved and executed, we will wire out the funds to your business account that day.

COMMERCIAL AND BUSINESS LITIGATION FUNDING

Commercial litigation loans

"Helping navigate the waters of high profile corporate litigation"

 The expansion of the commercial litigation funding space has opened up a tremendous amount of opportunity for plaintiffs and investors alike. For attorneys and their firms, it provides a hedge against contingency fees and a way to help manage the cost of litigating a large corporate claim. For companies that hold strong and meritorious claims, but cannot bear the financial burden of the pursuit of those claims, litigation funding provides an effective way to eliminate the high capital outlay and risk of business litigation. For investors, litigation funding provides a rare opportunity to invest into a negatively-correlated asset with high return potential and diversity. At Baker Street Funding team of advisors, former litigators and executives help investors, plaintiffs and their attorneys navigate the waters of high profile corporate litigation while providing everyone with the tools needed for success.

OUR LEGAL FUNDING ADVANTAGES

NON-RECOURSE PLAINTIFF ATTORNEY LAWSUIT FUNDING

Plaintiff attorney legal funding types

We offer two types of legal funding for plaintiffs, pre and post-settlement funding available for clients both before and after a signed settlement agreement has been dually executed. 

Plaintiff attorney pre-settlement funding

Law firm loans

Most personal injury cases take up to two years to settle and pay out. In this time, your client could be out of work and in need of funds for basic living expenses and medical bills. When these plaintiffs have exhausted all other financing options available to them, we then recommend that they look into pre-settlement funding. While the risk profile of any case could be high, cases that have yet to settle carry a large amount of risk. This is why the cost of pre-settlement funding is sometimes high. The inherent risk of the case not setting for any reason is why you may see higher rates on your client’s contract. We price each case individually taking into account the risk of the case not settling. Since our contracts are strictly non-recourse and based on the merits of the case, not the financial profile of the plaintiff, we are able to provide much needed capital to individuals who may not be able to get financing otherwise.

Plaintiff attorney post-settlement funding

Attorney financing

Since settlements are typically not distributed immediately upon signing the settlement agreement, plaintiffs may see themselves in need of short term bridge capital. For plaintiffs in this situation, post-settlement funding may be an option. While the risk profile of a settled case is low, there is still a chance that the obligor does not pay. Our non-recourse funding agreements take this into account and gives plaintiffs rates that are priced appropriately for that risk. We will highlight below some important questions and answers about post-settlement funding.


If you are interested on pre or post-settlement funding please contact us here.

MONETIZE YOUR FEES THROUGH POST-SETTLEMENT FINANCING

Attorney post-settlement funding

Attorney post-settlement funding: Expedite your future fees

Attorneys fees can be delayed for a number of different reasons like administrative issues, appeals or slow paying defendants. You can facilitate your future fees with Baker Street Funding’s post-settlement attorney financing, we can provide a portion of your future receivables today. We see contingency fees as the lifeblood of any legal practice and can provide you with financing arrangements that you can not get from any bank, all with the five star service and low rates that we pride ourselves on. Learn more >

THE OTHER 2 NON-TRADITIONAL LEGAL FUNDING SOLUTIONS

There are 4 main types of attorney funding

Legal case funding

As mentioned above, most of the law firms that we work with, utilize our pre and post-settlement funding options either on a case by case basis or based off of their current portfolio of receivables. Some attorneys may need a more specialized solution. With that in mind we also provide voucher funding and attorney lines of credit, feel free to give us a call so we can discuss further on what fits you best.

Voucher funding for attorneys

Many attorneys that approach us are appointed as public defenders (also known as indigent defense attorneys). These attorneys are on the states payroll and receive their legal fees directly from the state that they practice in. Sometimes, when there are economic downturns or other financial issues that the state is subjected to, vouchers are used as a promissory note to pay past due attorneys fees. We have seen attorneys have to wait months to be able to redeem their vouchers. Our voucher funding program works similarly to our post-settlement funding agreements. Once a voucher has been issued to the attorney, he can then contact us and we will advance a portion of the vouchers face value. We will then be paid back from the state when they are able.

Attorneys line of credit

Our attorney lines of credit function almost exactly the same as you would see at your local bank branch. The key difference with our attorney LOCs is that we are able to do more due diligence into your practice and thus are able to provide much larger lines than a bank normally can. Because our legal funding solutions were developed by attorneys, we are familiar with what it takes to run a successful contingency fee based practice. As expected, as your client portfolio increases, so would you line of credit. We look at it from the perspective of your firm being a living breathing thing and our attorney lines of credit being the heartbeat that helps it grow. Our LOCs will increase in lockstep with your practice as it gets new clients and successfully litigates cases.

Attorney case financing

MEDICAL/SURGICAL LIEN FUNDING

Efficient custom surgery financing

As one of the countries most experienced pre-Settlement founders, we can provide uninsured clients with the cash they need to pay for medical expenses. Most doctors will not perform procedures on lien so help your clients get the care they deserve and the most out of their settlement  We offer surgery funding for plaintiffs unable to afford medical procedures due to the privatization of health insurance or personal injury protection coverage. This solution works as  well for attorneys as it does for plaintiffs in need of surgery because an attorney can then obtain a lien  or a letter of protection post-operation, as the case goes up in value. There is no risk for surgeons as  they are directly paid in full pre-operation. Baker Street Funding is committed to ensuring personal injury patients have access to quality healthcare, and medical providers can be compensated quickly and fairly for the care they provide.

Learn more about surgery funding

Our process is quick and easy. All of our underwriters are former personal injury attorneys with extensive experience. They perform a quick review of the underlying facts surrounding the case and make a fast decision. With a quick response time and high speed of service, we regularly help personal injury victims receive the medical care they need ranging from minimally invasive surgeries to complex surgical procedures while strengthening your personal injury case.

ATTORNEY FUNDING / LAW FIRM FUNDING REQUEST

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We look forward to working with you!

We can make things happen for you FAST so you stop risking your own capital and start utilizing ours to grow your business to its highest potential.

Baker Street Funding

303 5th Ave, Suite 401, New York, New York 10016, United States

Attorney Requests - OPEN NOW: (888) 711-3599 Fax: (518) 500-3056

WE OFFER LEGAL FUNDING WITH YOUR PRIORITIES IN OUR MIND