As commercial entities, businesses are also subject to specific laws, contracts, and agreements that can lead to litigation if something goes wrong. For example, you may be facing a labor dispute, or your business may be pursuing compensation because of a breach of contract. However, juggling the expenses of running a business and filing a lawsuit can be costly, especially if you cannot operate your business and earn a profit while facing litigation.
Commercial litigation funding may provide the exact types of funding you need when your business struggles to stay afloat during a lengthy lawsuit. When facing commercial litigation, you may need support just as you would as an individual. Fortunately, the team at Silver Dollar Financial is here to help guide you through this process.
How Can I Use My Commercial Lawsuit Loan?
You may believe you are eligible for a commercial lawsuit loan, but you may be unsure how best to use it. The good news is that we do not police how our clients use this funding. We understand that a variety of business expenses and legal expenses can accrue, and we leave the discretion of how to use your funding up to you as the client.
However, you may be unsure whether you need this funding. Commercial litigation funding may seem like a significant loan, but it can help your case succeed. With this additional funding, you may have more freedom to take action on your lawsuit.
Leveling the Field in the Courtroom
One of the biggest benefits lawsuit loans provide is giving you the support you need when your lawyer is in court. While you may have a strong case, the other party may fight back just as hard, adding to the difficulty and expenses of your case. Unfortunately, bigger businesses may use their clout and finances to pressure you into an unfavorable conclusion to your lawsuit.
When you have a lawsuit loan, you do not have to worry about running out of the funds needed to keep your business in operation, pay your employees, and maintain your ongoing lawsuit. With these funds, you can cover the many daily expenses that may arise during the business operations and the costs of your lawyers. That means you can afford legal services no matter the pay structure.
Keeping Your Business Afloat During Litigation
Running a business can incur significant expenses, leaving you struggling to maintain your operations. Worse, your company may be on hold during the litigation process. For example, you may be a sole proprietor, and you may be unable to keep your business open for regular hours while managing the legal process you are involved in.
With commercial litigation funding, you can obtain the funds you need for your case without worrying about your business going under. With this financial aid, you can spend time giving your case the attention it needs rather than splitting your time between the two. That means you do not have to choose between supporting your business and completing your lawsuit.
The Process for Obtaining Commercial Litigation Funding: What You Can Expect
Before you are approved for and receive commercial litigation funding, you will need to complete the approval process. During this process, Silver Dollar Financial will determine the agreement between our funding services and your business and provide further information about expectations regarding your funding. We keep this process as simple as possible so you can focus on your lawsuit.
We Review Your Case
The first step in our process is to apply for funding now. Once we receive your application, we will complete an initial review of your case, looking at the specifics of your lawsuit, the validity of your claim, and the potential for success with your case. We try to complete this process as quickly as possible, in as few as 24 hours after reviewing all prepared files, as commercial litigation is often complex.
Once we have determined whether your case is suitable for our funding, we may present a term sheet. This may include a non-disclosure agreement for your claim as we begin working together. This can help protect your claim throughout the initial assessment process.
We Assess the Details
If we determine we are interested in providing funding, your term sheet will include some of the scope of the financing we can provide. This includes information about an exclusivity provision, which can give us time to perform due diligence before you submit the case to other funding companies. Funding reviews can take time, so we want to ensure we have the room to do so.
During this process, we will also conduct a thorough investigation of your case. Diligence is the point at which we assess your case’s merit, including potential damages you may be due, grounds for liability, and any obstacles that may arise during recovery. This step gives us a better idea of the exact details we can expect with your case.
We Provide Funding
Following this thorough investigation of your claim, we will decide whether to approve or deny funding for your case. If you are approved, we can then begin the negotiation process for the funding agreement. This agreement will cover the rights, obligations, and funding between our service and your business.
Once an agreement has been struck, your case will be funded. During the agreement process, we will also determine how your case will be funded. You may have options between receiving the full funding as soon as the agreement is made or funding over time throughout your case.
Contact Our Loan Specialists for the Financial Aid Your Commercial Case Needs Today
Even a thriving business may face financial duress when facing litigation. You may have a strong case, but even a case in your favor can be costly, and you may struggle to maintain your business while navigating your case. Fortunately, commercial litigation funding through Silver Dollar Financial can help.
If you are struggling to maintain the financial needs of your business and navigate your lawsuit, do not hesitate to reach out to our loan experts. We can discuss the specifics of your claim, what funding we can provide, and further details about how our funding works when you reach out. When you are ready to discuss your case, simply contact us by calling or filling out our online contact form.