Practice Funding is often seen by firms as an ideal way to resolve their funding requirements.
Under Practice Funding arrangements a firm is usually granted a facility limit and within that limit can draw down funding on an individual case basis to finance initial marketing and Referral Fees and then draw down additional funding as the cases progresses for disbursements. Some Practice Funding facilities have the added option to draw WIP funding on existing unencumbered cases.
The repayment of Practice Funding loans is usually deferred to the end of the case. Some facilities require firms to pay accrued interest on an ongoing basis, others will defer interest and capital to the end of the case.
Under a Practice Funding facility a firm will usually be charged an initial facility fee, then individual documentation fees on a case by case basis, plus an agreed interest rate at a margin over base rate.
If you are interested in a Practice Funding solution please contact PCC to discuss your requirements in more detail.