This Best of Both Worlds® law firm funding solution is a combination of:
- Case Expense Financing: The world’s best case expense funding product powered by AdvoTrac® and the amazing Advocate Capital, Inc. service team through which our clients experience a net borrowing cost of less than 1% per year*, and;
- Working Capital: Up to one third of the case expense line available as working capital priced at prime +1% with a 1% annual fee.**
* In most jurisdictions, a law firm can reduce its annual costs by passing borrowing costs through to its cases, but the compliance requirements can be too expensive to implement. Only Advocate Capital, Inc. has a proprietary expense tracking system and service team that allows firms to easily comply with allocation and reporting requirements. So, for example, if a firm recovers at least 90% of its borrowing costs from its cases, as most of our clients do, its annual cost of funds is very small – even less than 1%. Contact us to discuss how our program can work for your firm. (All loans are subject to credit approval, and terms and conditions may vary.)
** The 1% annual fee is charged on the amount of working capital approval. Qualifying firms agree that their working capital balance will not exceed the case expense balance of the loan.