Almost all personal injury solicitors have a funding requirement in some shape or form, given the unique nature of the market requiring initial investment in marketing or Referral Fees to generate work and the requirement to fund WIP to the end of the case.
There are a number of ways firms can address these funding requirements including:
Each funding solution as its own advantages depending on a firm’s individual requirement. Firms may also have other funding requirements including requirements for example for Premium Funding, Office Equipment Funding or Vehicle Finance.
Whatever your funding requirements PCC can help. PCC has relationships with Business Partners providing funding solutions in all areas.
Although in the current climate funding may not be as readily available as it has been Phil Clegg has particular expertise in the funding market having been with Bank of Scotland for 15 years.
Whilst funding is currently limited as a resulting of general banking conditions PCC does have access to specialist funding for new innovative legal schemes requireing significant financial backing. One recent scheme has invested £50m into the Proffesional Negligence market, another is examining the WIP acquisition market. If you have legal funding opportunity requiring investment of £1m and above please contact PCC to discuss your requirements.
If you are looking for any Funding Solutions for your practice please contact PCC to discuss your requirements.