Law Firm Financing

Faster, easier small business financing with one simple application—no bank needed.

Applying is free and won’t impact your credit.

Customer reviews.

Lendio knows law firms.

Whether you’re looking for financing for starting a firm, litigating, purchasing up-to-date technology, hiring additional attorneys, or moving to a bigger and better location, Lendio can match you up with the perfect lender and loan product for your law firm’s needs.

 

Law firm financing can help you expand your practice without the need to bootstrap each and every purchase or investment. Choose the right business loan to simplify operations and drive growth. 

Lendio is no stranger to funding for law firms and the type of capital required to grow a profit-driven enterprise. Our network of preferred lenders makes it easy to submit a single application and receive multiple financing options to compare.

Why Lendio?

Fast and easy application

Apply in just 15 minutes and get funded in as little as 24 hours. Once you’re in, you can immediately start comparing rates and lenders.

Get professional guidance

Get personalized support throughout the entire process by working with a funding manager. They can help you with your application and help you choose the best lender for your law firm’s needs. 

Huge network of top-notch lenders

Compare loan offers from our network of 75+ lenders. You don’t need to go rate shopping when all of the best lenders are already in one place.

How our loan matching process works.

STEP
1

Fill out our simple application.

Answer just a few questions about your business to see which lending products you qualify for. We’ve partnered with over 75 lenders, allowing us to find the best option or your business.

STEP
2

We’ll connect you with a funding specialist.

One of our funding specialists will reach out to you to get to know your business better. Since every business is unique, we want to make sure we find the loan type that’s perfect for your needs.

STEP
3

Compare loan offers.

Compare different offers curated for your business. Select the capital amount and rate that will help take your business to the next level.

STEP
4

Get funded.

We work with lenders that can fund you fast. Once you’re approved, you’ll be able to access your capital in as little as 24 hours.

Types of business loans for law firms

Revenue-based financing

Also known as a business cash advance, this type of financing uses your establishment’s expected revenue as collateral for law firm funding.

TERM LENGTH

1-15 months
MAX LOAN AMOUNT

$1 million

Debt financing

Debt financing is what many borrowers likely think of when they think of loans for law firms. Borrowers receive the full lump sum at once and then make monthly payments until the loan is paid back in full. There are two options when it comes to debt financing: term loans and SBA loans.

TERM LENGTH

6 months-25 years
MAX LOAN AMOUNT

$5 million

Line of credit

A business line of credit is like a credit card in that it is a revolving account. The differences between the two is that a line of credit usually comes with a much higher borrowing limit and a lower interest rate. Lines of credit are useful for general capital needs.

TERM LENGTH

6-24 months
MAX LOAN AMOUNT

Up to $250,000

Ways to use law firm financing

Invest in advanced technology

Adopting high-tech solutions enhances your operations and gives you a competitive edge. With law firm financing, you could invest in a range of legal software solutions, virtual office services, and more.

Grow your firm

Growth is an ongoing goal for any successful business. Law firm financing could provide the capital you need to hire new employees, expanding to new markets, or even opening a new branch of your practice.

Marketing your practice

Marketing is essential for gaining more clients. Using law firm financing, you can invest in paid advertising methods, marketing technologies, and even hiring marketing freelancers to spread the word about your practice.

Training and development

In the law world, continuous learning is key. Using a business loan, you could fund training programs and classes to ensure that you and your staff are up-to-date with the latest industry standards and regulations.

How to get law firm financing

Remember, we’re here for you every step of the way. With our guidance and your determination, securing that law firm financing will be a simpler process.

  1. Understand your needs: Have a clear grasp of what you need the loan for. Whether it’s growing your firm, training your employees, or investing in technology, understanding your needs will help you determine the right kind of loan.
  1. Check your credit score: Your credit score plays a significant role in loan approval. A higher score may lead to better loan terms, so make sure you know where you stand and strive to improve if necessary.
  1. Put together a strong business plan: Lenders want to know how you’ll use the money and if you’re capable of repaying it. A detailed business plan that outlines your goals and strategies can make a compelling case.
  1. Gather financial documents: You’ll need to provide financial documents like bank statements, tax returns, and financial statements. Having these ready can speed up the process.
  1. Compare lenders: Different lenders offer various terms and conditions. Take the time to shop around, compare options, and choose the one that best suits your needs and circumstances.
  1. Submit your application: Once you’ve chosen a lender, complete and submit your application. Be sure to double-check everything for accuracy before submitting.

FAQs

Law firm funding is when a loan product is taken out to cover overall capital needs or pay for a major purchase. Regular monthly payments are required until the full loan amount (with interest) is repaid.

  

Minimum requirements to obtain law firm funding through the Lendio platform include:

  • A credit score minimum of 600 
  • Monthly revenue of $8,000 or more
  • Time in business of at least six months

 

Because law firm loans are a type of business loan, they can be used for any business-related expenses, including day-to-day operating expenses or those incurred to expand your law firm.

A lending marketplace offers an easy application process that connects you with multiple lenders and loan products, so you can be matched with the best loan for your law firm. You will also be connected with a funding manager to aid you throughout the funding process.

An SBA loan is insured by the federal government and generally comes with lower interest and higher loan amounts. The drawback to SBA loans is that they can take a longer time to process. Borrowers with more urgent capital needs might be better off considering other loan products.

There are three types of SBA loans: 504 loans, microloans, and 7(a) loans. Microloans come in amounts between $500 and $50,000. 7(a) loans go up to $5 million and are useful for day-to-day capital needs. 504 loans also go up to $5 million, but offer longer repayment periods, since they are intended for large asset purchases.

8 out of 10 Lendio employees* or their families own a small business

*based on 136 Lendio employees who responded to an internal poll

Quickly compare financing options from multiple funders.

Applying is free and won’t impact your credit

Talk to a rep at (855) 853-6346
Mon-Fri 7:30am-5pm MST