NEW YORK, May 28, 2013 /PRNewswire/ -- Legal-Bay LLC, The Lawsuit Settlement Funding Company, announced today that they are on pace for a record 2nd quarter in their Attorney Lawsuit Loan Division, with a full month to go in the quarter. Attorney Funding or Attorney Loans have been a focus of Legal-Bay's for 2013; and the 2nd quarter is expected to be the company's strongest quarter for assisting law firms with the needed capital to pursue bigger cases and manage cash flow.
Legal-Bay which offers pre-settlement funding to plaintiffs as its core business model, has substantially increased their market presence for credit facilities to small and mid-size firms for Case Cost Funding. "What we are seeing is a lot of small and mid-sized firms who want to compete with larger firms for big cases, applying to us for attorney loans. Many of these smaller practices have been turned down at traditional banks because a bank will not evaluate a law firm's case load as hard assets like we do at Legal-Bay," Said Chris Janish, Legal-Bay's CEO. "We have seen a large spike in small Law firms and CPA firms applying for loans due to a large influx of business due to the B.P. Oil spill claims and we are working diligently to fund these organizations –as well as all law firms nationwide- so they can continue bringing in new claims."
Legal-Bay's Attorney Funding Loans Program enables a small firm to secure its strongest assets –its portfolio of cases- to collateralize an attorney credit facility via Legal-Bay. Legal-Bay's program typically takes 7-10 business days for the firm to be approved and ultimately funded, which is much shorter than a bank's underwriting process which could take months. And credit scores are less important with Legal-Bay than a traditional bank as well.
If you are a single practitioner or small to medium law firm and you are in need of Case Cost Funding for expert witnesses, other trial cost funding, or operational cash flow you may apply directly to Legal-Bay online at: lawssuitssettlementfunding.com or by calling toll free at 877.571.0405 where agents are always available to take your call.
SOURCE Legal-Bay LLC