NLF can provide fast and easy funding directly to attorneys and their firms. We provide several options for funding, a strong alternative to using one's own money or a bank's line of credit.
With the rising cost of litigation, law firms are often forced to: (1) not expanding their horizons and only handling a small case load; or (2) giving away new cases and only receiving a referral fee. With larger firms suffering millions of out-of-pocket costs each year, this is bad business.
NLF can help. We have worked hard to establish trust with the attorneys and their firms, providing knowledge and experience to give an industry with dramatically rising costs a powerful and rewarding alternative for doing business, without financial burden.
We can provide various types of cash advances with NO RISK -- if an attorney we fund loses a case, they owe NLF nothing.
NLF provides a range of financial solutions, and can find the plan (or plan combination) that best suits a law firm's goals and requirements. We specialize in both recourse and non-recourse advances to help your clients.
SERVICES
- Handle all your financial needs
- Refer cases to your firm
- Co-counsel: Connect your firm with law firms who need your financial support and man-power
- Develop new business relationships
- Market your firm Nationwide
Our four primary funding services are:
ATTORNEY REVOLVING CREDIT
The ARC program provides a comprehensive financial management solution for selected contingency-based law firms. The ARC provides borrowers with a competitively priced, full recourse working capital line that may be applied to overhead (including marketing and advertising costs), case acquisition and expenses and other short term needs. The line is repaid from the cash flow receipts and can be increased as and when required, provided the collateral initially submitted remains adequate.
- We can provide a line of credit from $500,000 to $50 million plus
- We can establish a line in a month or less
- Your firm will be charged only for the amount that is used
- We will accept your portfolio of cases as collateral
NON-RECOURSE ADVANCES
These cash advances made directly to a law firm are contingent upon the favorable settlement of a single case that has been carefully evaluated and are pursuant to a specific “Settlement Agreement”. The settlement agreement provides that the funds advanced shall be repaid, plus a fee, when the lawsuit referenced in the agreement ultimately settles. The exact amount of the fee payable on the funds advanced depends upon the length of time the funds are outstanding.
** After an evaluation process, NLF would provide funds pursuant to a Settlement Agreement, which provides that money advanced will be repaid, plus a fee, when the lawsuit ultimately settles. The exact amount of the fee depends on how long the funds are outstanding.
POST-SETTLEMENT ADVANCE
These are generally short-term advances, designed to help a attorney/client due a settlement. A Post Settlement or Post Judgment Advance is a non-recourse transfer of funds, meant as a solution for a client or lawyer awaiting payment from the defense. In some cases, a settlement is reached but the defense will take a long time to pay (the wait for settlement money is often four months or longer; meanwhile, the client, after a long court battle, might be in a precarious financial state). In such a case, fast emergency cash is needed, and NLF can use this type of advance to provide such funds.
APPEAL ADVANCES
When you win a case, but the defense has appealed to a higher court of law, an Appeal Advance from NLF can give you the power to press on and win the appeal. The lawyer as well as the plaintiff may be in need of funds to be used during the (potentially long) appeal process, which can sometimes take a year or longer to resolve. NLF treats the settlement as collateral, and places a lien on it. It is possible that the judgment may be overturned in appellate court; hence, the fee charged reflects that risk.
