Law Firm Funding

Camino Financial09 Jan 2024
Law Firm Funding
Law firm funding can give you the financial boost you need to grow your business. Money is crucial to achieving success in the legal industry. By accessing external financing you can cover any type of expenses and make investments to strengthen your company. At Camino Financial, we can offer loans from $10,000 to $50,000 with competitive rates and terms. Apply now!

What Are Law Firm Loans?

They are lending products specifically created to cater to the financial needs of legal businesses. They can be used to finance any and all costs these businesses usually incur. The legal industry is extremely competitive, and not all business owners have enough cash to make investments. But with external capital, anyone can finance the expenses that will help them grow and stand out from other firms. All types of legal businesses can get a loan, from big and small law firms to lawyers and attorneys with smaller practices.

Camino Financial’s Law Firm Financing

You’re in the business of helping people in court. We're in the business of helping professionals just like yourself. Thanks to our minimal business loan requirements, we have some of the best loans for law firms. If you choose us as your lender, you won’t have to worry about your credit score: we approve applicants with no previous credit history. Here are our financial products and the handful of requirements you need to meet:

Microloans
Amount $10,000 to $50,000
Type of payment Monthly
Repayment terms 24 months
Type of rate Fixed
Origination fee 6.99% of the amount
Requirements
  • monthly revenue of or $2,500 (or $30,000 per year)
  • have an active and registered business for at least 12 months
  • SSN

Learn more about our microloans

  Get a loan   Use our business loan calculator to find the amount you can most comfortably repay:  

How To Invest Your Loan

With the right lending product, you can strengthen many areas of your business. Here are just some ideas:
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Litigation Expenses And Case Costs

You need capital to cover legal-specific operating expenses—court filing, arbitration, reimbursing experts for depositions, witness fees, etc.

A loan can help you cover those costs.

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Working Capital

Working capital is the lifeline of any business.

With external financing, you can strengthen your finances and your bottom line by settling account payables or debts.
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Marketing

One of the best ways of attracting paying customers is through marketing.

For example, you can use law firm financing to build a website, create promotional videos, or place ads online.

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Update Your Office

A modern, clean office can get customers to trust and respect you even more.

With additional cash, you could expand your office, open a second location or redecorate your current space.
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Hire Staff

A law firm is only as good as its employees. Use a loan to hire top legal talent to get more cases and improve your profits.

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Cash Flow

Cash flow can make or break your legal firm. External funding is an excellent way of strengthening your business’ finances.
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Help Your Clients

By using a loan to strengthen your business cashflow, you could be in a position to offer more flexible payment arrangements to your clients.

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Apply today!

Funding For Legal Firms: How To Apply

With us, getting the financing you need is easy. All you have to do is complete a few easy steps to apply:
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1. Complete Our Simple Application

We want to make sure we can offer the law firm funding that genuinely meets your needs. That's why we ask for basic info about you and your business.

2. Share Additional Documentation

We might require additional information to understand your business finances or verify your identity. Don’t worry; for your convenience, you can do everything online.

3. Accept The Loan Terms

After reviewing all your information and documents, we’ll approve the law firm funding and share the final terms with you. Then, you just need to sign on the dotted line.

4. Receive Your Funds

We deposit the cash so that you can start investing it straight away.

*The process may differ depending on which loan you qualify for.

Why Choose Camino Financial's Law Firm Funding?

We’re the first-ever NEO-CDFI, which means our mission is to use AI to help underbanked businesses.
  • You can complete our easy application process entirely online
  • We don’t have any prepayment penalties or hidden fees
  • You can receive the loan within two days
  • Our friendly bilingual staff will help you in any way you need
Get a Quote  

FAQs

What types of loan options are available for law firms?

Many legal professionals use personal cash to invest in their firms, but that's not always a good idea. Fortunately, there are many financial products you can access, like:
  • Small business loans
  • Lines of credit
  • Cash advance loans
  • Traditional bank loans
  • Merchant cash advances

Are there fees associated with law firm financing options?

Business lenders charge origination, underwriting, and closing fees. Some may even charge prepayment fees too. At Camino Financial we’re transparent with our fees: there are no hidden costs. Plus, if you want to pay off your loan early, we won’t charge any prepayment penalties.

How to choose the right type of loan for my law firm?

To choose the right commercial lending product, you need to consider factors like:
  • If the amount your lender  offers matches your needs
  • If you meet your small business lender's minimum requirements
  • How high the interest rates and fees are

How can you fund a new law firm?

Some new business owners in the legal industry use credit cards and invoice factoring when starting. These choices can lead to a debt cycle, making it hard for the firm to make money. The best option is to get a law firm startup loan.

How does a law firm generate revenue?

Lawyers typically set hourly rates and bill their clients for their services. However, some work on a contingency fee basis, meaning they don’t receive their paychecks until after a client wins damages in court.

*Terms and requirements subject to change without notice.

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