Archive for June, 2012
The purpose of this and all articles posted by the undersigned is to educate the public about the lawsuit funding business as a whole. The premise is that if the public is more aware of the business and how it works, it will benefit the lawsuit loan industry and clients alike. This article will touch on the various ways lawsuit funding operations originate cases to consider for a lawsuit cash advance.
Like most businesses in which there is sufficient demand, new business is generated is a variety of ways. In the lawsuit funding business, business is usually originated either through the direct “in house” efforts or through lawsuit funding brokers.
Looking for business finance usually refers to entrepreneurs searching for funding sources for their business. Funding is needed for the start-up and operating expenses of a business, and there are many financial institutions that provide capital to small businesses.
The first place many business owners consider when looking for business finance is the Small Business Administration (SBA). This government agency provides loans to business that employ fewer than one hundred employees and that have been denied by traditional lenders. The requirements for start-up and existing businesses differ, but both require a business plan in order to apply. While the SBA does not provide loans itself, it does have a guaranty program that secures a certain percentage of small business loans to reduce a lender’s risk. To apply for an SBA loan, qualified applicants must take the needed documents to a participating lender. The loan terms may vary by lender, type of loan, and the applicant’s financial history.
Starting a law practice can be a daunting task. And, unless you were fortunate enough to bring a full book of business into your firm at start-up, you will likely, at least initially, have a lot of free time. Here are some tips for using that time productively:
1)Define an endgame. What is the vision for your practice? Although it may be necessary to take clients and their legal issues across a broad spectrum of practice areas when you’re starting out, have a vision for your firm. Review all strategy decisions and marketing efforts against that vision, and if an activity doesn’t support your vision, don’t make the investment. Your goal is to build a brand–both your own and the firm’s–that supports your long-term vision.
2)Identify your income needs at different price points. Reviewing your minimum financial needs at a variety of price points will allow you to make informed decisions on whether to offer a lower rate to gain experience in an area that supports your vision.