Product Comparison
Strategic Finance for Law Firms
Product Overview/Comparison
Comparison of Advocate Capital, Inc. Products |
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Case Expense Funding |
Working Capital |
Settlement Funding |
|
Cost |
Least Expensive |
Moderately Priced |
Most Expensive |
Credit Score |
Very Important |
Very Important |
Not Important |
Steady Law Firm Revenue |
Very Important |
Very Important |
Not Important |
Positive Law Firm Cash Flow |
Important |
Very Important |
Not Important |
Positive Net Worth for Law Firm and Partners |
Very Important |
Very Important |
Not Important |
Underwriting Process |
Moderate |
Moderate |
Easy |
Collateral |
1st Position UCC Filed On All Law Firm Accounts Receivable |
1st Position UCC Filed On All Law Firm Accounts Receivable |
UCC Filed Only On The Particular Settled Case |
Personal Guarantee Required? |
Yes, For Any Partner Owning >= 20% Of The Law Firm |
Yes, For Any Partner Owning >= 20% Of The Law Firm |
No. |
Approval Time* |
3-5 Business Days |
3-5 Business Days |
1-2 Business Days |
Minimum Line or Advance |
$100,000 |
$200,000 |
$50,000 |
Maximum Line or Advance |
$2,700,000 |
$2,700,000 |
$500,000 |
Application Fee? |
None |
None |
$150 if advance is under $150,000 |
Up-Front Costs? |
None |
Typically An Annual Line Fee of 2% |
None, except for Application Fee (above) |
Annual Field Exam? |
Yes |
No |
No |
Monthly Interest Payments? |
Yes, Simple Interest |
Yes, Simple Interest |
None |
Length of Relationship |
Annually Renewable, Subject to Approval |
Annually Renewable, Subject to Approval |
One-Time Purchase Transaction |
* Approval time is quoted from the time we receive all necessary documentation until approval is given.
