The need might arise for your company to apply for a litigation finance agreement when involved in a lawsuit. Taking on large corporations is not financially feasible for many smaller companies, which is where litigation finance can help. The team at Silver Dollar Financial offers litigation finance for companies of all different sizes so they can focus on securing victory in the lawsuit without worrying about going into debt.
What Is Litigation Financing?
Litigation financing is an alternate option for law firms to fund their most expensive cases. The law firm does not have to apply for a traditional loan to fund the case. Instead, the firm can apply for litigation financing, which is a non-recourse type of financing.
Non-recourse means that money does not have to be repaid until the case is successful. If the firm loses the case, it does not have to repay the litigation financing.
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What Is a Loan?
A traditional loan will require the law firm to apply for funding with a bank. The law firm will have to provide a litany of confidential information, including financial records, and other documents.
The loan the law firm acquires will have interest tacked onto it and will need to be repaid in monthly installments almost as soon as it is issued. For many firms, this is not a feasible option, which is why they choose litigation financing with Silver Dollar Financial instead.
Is Litigation Financing Protected from Discovery?
Yes, a litigation financing agreement is protected from discovery because of the work-product doctrine. Since most law firms apply for this type of financing on behalf of their client, the agreement falls under attorney-client privilege, and the terms of the financing cannot be disclosed as evidence in the case. Despite this, the defense attorney will likely still request that the litigation agreement be disclosed. It is an effort to get the law firm to expend as much of its resources as possible while working on the case.
What Can Law Firms Use Litigation Financing On?
When a law firm applies for and receives litigation financing, it can use the money in many different ways. Some of those ways include the following:
- Daily operating expenses
- Payment for expert witnesses
- Payment for independent investigators or accident reconstructionists
Law firms that handle large cases that come with exorbitant expenses often apply for litigation financing so they do not have to rely on the firm’s own funds to keep moving forward. The application for financing will take into account the likelihood that the firm will win the case, which means it will be able to repay the financing once a settlement is awarded to the firm’s client.
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How Can Our Law Firm Apply for Litigation Financing?
The application process for litigation financing is quite simple and can be done online using the Silver Dollar Financial website. The application process will take roughly 20 minutes to complete and will require some confidential information about the firm.
However, both parties involved will sign a confidential agreement protecting all of the information shared in the application. This means that the information will never be sold or used against your firm in any method.
How Can Silver Dollar Financial Help a Law Firm?
Finding the right litigation financial company for your law firm is not easy. However, it does not have to be downright challenging. Look no further than Silver Dollar Financial when your law firm is in need of litigation financing.
Not only is our application process online and simple, but we can also get you approved in as little as 24 to 48 hours. Once approved, you can have the funding in your account not long after that.
Silver Dollar Financial is here to make your life easier. We understand the challenges of running a law firm and the high costs that come with it. We want our clients to focus on running their firms and nothing else.
Talk to the team at Silver Dollar Financial today about your law firm’s financial needs. We can answer all of your questions and help you determine the amount of money you will need before you complete an application. You can apply for funding on our website, making it easy to complete the process without having to leave your office.
Why Should Our Law Firm Avoid a Traditional Loan?
When your law firm is in need of litigation financing, it is in its best interest to avoid a traditional loan. If the firm acquires a loan, it will have to begin repaying it almost immediately with interest. Since law firms are not guaranteed success in their cases, repaying a loan will only cause them more financial harm than not acquiring litigation financing from a trusted lending company.
A litigation financing agreement is non-recourse, which means there is no repayment until the firm wins the case. The law firm can simply focus on building a strong case and not figuring out how to repay a loan.
What Are the Benefits of Litigation Financing?
Litigation financing comes with many benefits, including the following:
- It is a non-recourse loan (does not have to be repaid until the case is won).
- Not a lot of confidential information is needed to apply for financing, and a financial records check will not happen.
- The funding can be acquired within a matter of two or three days once the application is approved.
- Approval can be given within 24 to 48 hours upon submission of the initial application with Silver Dollar Financial.
Apply for Litigation Funding with Silver Dollar Financial Today
Is your business in the middle of a lawsuit? Are you worried that it will accrue too much debt during the duration of the lawsuit? If so, it might be in your company’s best interest to apply for litigation financing from Silver Dollar Financial.