THERE ARE OVER 443,000 LAW FIRMS IN THE UNITED STATES, OVER 60% OF WHICH ARE SOLO OR SMALL FIRMS. RAISE THE BAR AND STAND OUT FROM YOUR COMPETITION WITH UP TO $500,000 IN FUNDING TO GROW YOUR LAW PRACTICE IN AS FAST AS 24 HOURS.
Funding You Can Trust
Because of higher-than-average income, strong cash flow and profitability, and lower margins and overhead costs, law firms may be able to get the funding they need through a traditional lender like a bank or the SBA. However, the application process can take months, and approval is never guaranteed. While you wait, opportunities to expand and grow your practice can easily slip away.
As an alternative lender, Opalescent solutions can approve more attorney funding than traditional lenders. We can also approve your attorney funding faster, with funds deposited in as little as 24 hours. We provide several types of small business funding to help grow your law practice, with funding from as low $3,000 up to $500,000. We fund all legal specialties regardless of firm size, including solo law firms, small law firms, and large law firms.
How To Use
There are no restrictions on how you can use alternative attorney funding. Attorney funding is most ideal for supporting growth initiatives that will increase your firm’s revenue, such as:
Purchasing new office equipment, such as scanners or computers or new technology to support operations and increase efficiency
Renovating or remodeling your office to offer clients a more comfortable experience
Hiring experts or additional support staff to assist with a case or add new legal specialties to your practice
Expanding your practice or acquiring another practice
Investing in continuing education and training
Energizing your marketing and advertising to bring in more clients
Sometimes, law firms may also need a quick infusion of working capital to help meet the unique challenges of their field, such as:
Long accounts receivable periods
Contingency cases that restrict cash flow
Keeping up with rapid technology changes
Size of practice—in a private practice, operating costs are the responsibility of the sole owner; in a group practice, operating costs are shared between all owners
How Law Firm Funding Works
Attorney Funding Q&A
Is an alternative loan suitable for expanding my law practice?
Yes, an alternative loan is ideal for expanding your law practice. Contact one of our knowledgeable Funding Advisors to discuss an option that is right for you.
What do I need to do to qualify for a small business loan?
We have a very simple application process, with same day funding available. To get started, fill out our one-page application form or speak with a Funding Advisor.
How do I get funding for a law practice?
You can get funding for a law practice from traditional lenders like the SBA or a bank, as well as from alternative lenders like Opalescent solutions. Alternative lenders have more flexible approval requirements that consider the overall health and potential of your business. Contact one of our Funding Advisors to learn more.
Why should I consider an alternative lender for my attorney funding?
Traditional lenders can take weeks or months to review and approve your loan application, and most applicants are rejected. As an alternative lender, we have different approval requirements, and can approve funding for “high risk” industries. We can provide you with the funds you need to cover project expenses, operating costs, materials, and more, often in less than 24 hours.