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*Qualification criteria, rates, and other funding terms will vary depending on the type and location of your business, and upon other factors. This is not a guarantee of funding, and it should not be relied upon as an accurate assessment of the availability or terms of the represented funding products.
How much can I qualify for?
Not sure what you need or what funding options are best for you? Use our simple calculator to get a rough idea of your options with no commitment, and apply when you’re ready.
Lendio knows the law firm business.
Whether you’re looking for financing for starting a firm, litigating, purchasing up-to-date technology, hiring additional attorneys, or moving to a bigger and better location, Lendio can match you up with the perfect lender and loan product for your law firm’s needs.
Bridge capital between case settlements
Purchase supplies, equipment and furnishings
Refinance existing debt
Pay your legal assistants
Invest in marketing
What type of commercial real estate funding is best for your business?
These are the most popular types of funding that other law firm-based businesses qualify for through Lendio.
Business Line of Credit
Access available funds whenever you need them, and only pay interest on what you draw.
Revenue-Based Financing
Access funding based on your future revenue and repay with regular payments.
Business Term Loan
Borrow a lump-sum with a set repayment schedule, and get funding quickly with online options.
What types of business loans are available to law firm businesses?
Revenue-based financing
Also known as a business cash advance, this type of financing uses your establishment’s expected revenue as collateral for law firm funding.
Term Length
1-15 months
Max Loan Amount
$1 million
Debt financing
Debt financing is what many borrowers likely think of when they think of loans for law firms. Borrowers receive the full lump sum at once and then make monthly payments until the loan is paid back in full. There are two options when it comes to debt financing: term loans and SBA loans.
Term Length
6 months-25 years
Max Loan Amount
$5 million
Line of credit
A business line of credit is like a credit card in that it is a revolving account. The differences between the two is that a line of credit usually comes with a much higher borrowing limit and a lower interest rate. Lines of credit are useful for general capital needs.
Term Length
6-24 months
Max Loan Amount
Up to $250,000
FAQs
Find answers to some commonly asked questions in the law firm industry.
What is law firm funding?
Law firm funding is when a loan product is taken out to cover overall capital needs or pay for a major purchase. Regular monthly payments are required until the full loan amount (with interest) is repaid.
What are the requirements to get law firm loans?
Minimum requirements to obtain law firm funding through the Lendio platform include:
- A credit score minimum of 600
- Monthly revenue of $8,000 or more
- Time in business of at least six months
What can I use law firm financing for?
Because law firm loans are a type of business loan, they can be used for any business-related expenses, including day-to-day operating expenses or those incurred to expand your law firm.
What are the benefits of a lending marketplace?
A lending marketplace offers an easy application process that connects you with multiple lenders and loan products, so you can be matched with the best loan for your law firm. You will also be connected with a funding manager to aid you throughout the funding process.
What is an SBA loan?
An SBA loan is insured by the federal government and generally comes with lower interest and higher loan amounts. The drawback to SBA loans is that they can take a longer time to process. Borrowers with more urgent capital needs might be better off considering other loan products.
What are the different types of SBA loans?
There are three types of SBA loans: 504 loans, microloans, and 7(a) loans. Microloans come in amounts between $500 and $50,000. 7(a) loans go up to $5 million and are useful for day-to-day capital needs. 504 loans also go up to $5 million, but offer longer repayment periods, since they are intended for large asset purchases.
Ready for funding?
See what you can qualify for on the Lendio Marketplace.