Law Firm Loans Help Successful trial attorneys focus on winning their cases – without worrying about funding them.
But too often, this focus on the meat of their work leads them to overlook an important business task: managing their money in a way that optimizes profitability and the availability of capital.
Without paying attention to this important detail, many contingency-fee attorneys end up endlessly tying up their profits in case of expenses, losing opportunities to run or expand their business with that capital.
Some attorneys even have to refer away potentially great new cases that they have the expertise to litigate because they don’t have the resources to fight a deep-pocketed defendant. In addition, since most money invested in case expenses are not deductible as a business expense the tax creates another drain on the law firm’s cash flow.
Until recently, trial lawyers didn’t have much choice about this. Traditional banks do not offer attorney loans secured by a future verdict or settlement profits – even if everyone agrees that you’re sure to receive the projected fee.
Without many other options, attorneys would settle into a cycle of collecting a big fee, then plowing most or all of it right back into the next case.
That money tied up in litigation represented a lost opportunity to meet day-to-day expenses; lower their tax burden; expand their business; take on more challenging cases, or invest in their own or their children’s future.
Amicus Capital Group, LLC serves Detroit by offering a way out of this cycle with litigation financing options for law firms in Detroit, MI.
Amicus Capital Group Offers Law Firm Loans in Detroit, MI
Amicus Capital Group, LLC offers law firm loans secured by your portfolio of cases, for four to five times more money than a traditional bank could offer. We have some of the most competitive interest rates in the litigation finance industry.
Because we’ve been in the legal finance and litigation finance business since 1999, we understand the ebb and flow of contingency work; typically we don’t expect you to make any principal payments on the principal balance until one or more of your cases are finished. And we offer services that complement your loans and simplify your administrative work, including structured settlements and structured attorney fees; tax advice; and investment management.