Legal disbursements make up a major part of legal firm charges and can cause a significant strain on practice cash flow. Mounting costs paid out on behalf of a client, whether for goods or services provided to the client, or on the client’s behalf may restrict your growth. Financing Disbursements can help you to build on supplier relationships and provide the financial headroom to ensure you can negotiate the right settlement for the client and practice.
As a barrister, accessing funding can be challenging due to the unique nature of your income stream and many mainstream lenders find it challenging to appreciate your position and provide accessible funding quickly. When high levels of Aged Debt mount up with delays in fee income or increases in case lead time it can sometimes cause financial stress.
These events typically mean that conventional loans and overdraft facilities are difficult to find or not an ideal solution for you. We understand Barristers and work closely with them to provide a finance solution that meets their individual circumstances.
Features & Benefits:
- Funding from £5,000 to over £500,000
- Terms available from 3 months to 5 years
- Unsecured/Secured Loans & Alternative Overdrafts
- External to banking lines, leaving your capital or overdraft headroom free for growth and unforeseen opportunities or events
- Fixed rate and repayments providing clarity on a monthly basis to ease budgeting
- In many cases facilities can be settled at any time with little or no penalties, providing control over your lending
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Total amount financed to professional practices in 2023
£1
- Some of the lowest rates on the market
- Dedicated account manager
- Quick turnaround, typically 24-48 hours
- Focus on enabling excellence in the legal profession and building lasting relationships
- Working collaboratively with the Law Society and its members to help them innovate and thrive through change.
Shire Professional Funding acts as a broker and a lender.
Depending on circumstances and where required by law, loans will be regulated by the Financial Conduct Authority and the Consumer Credit Act.
The Law Society is an introducer appointed representative of Shire Professional Funding Limited. The Law Society is a professional body whose registered office is situated at 113 Chancery Lane, London, England WC2A 1PL. Telephone: 020 7242 1222, www.lawsociety.org.uk.
Shire Professional Funding Limited is Authorised and Regulated by the Financial Conduct Authority for certain types of consumer credit lending and credit related activities that are regulated under the Consumer Credit Act 1974 and by the Financial Services and Markets Act 2000. Registered in England and Wales No. 07121815. Registered Office: 1 Calico Business Park, Sandy Way, Tamworth, B77 4BF