Restore Consistent Cash Flow
Nothing is more challenging for a clinic than cash flow disturbances. Finance Bound's
programs will ensure that your cash flow is consistent.
Finance Bound's Treatment Financing Programs are designed to alleviate the burden faced by all parties during an active personal injury case. We are able to endure the wait time on a file so that lawyers, plaintiffs and treatment providers are free to focus on what's important: restoring one's health and working to get the best settlement possible.
CHALLENGES FOR LAWYERS & PLAINTIFFS
Typical challenges presented involve denied, delayed or terminated medical treatment allowances. Insurers tend to impose such restrictions and they effectively leave injured victims without the medical care they need.
CHALLENGES FOR TREATMENT PROVIDERS
For clinics, restrictions imposed by insurers present an entirely different set of challenges - namely with cash flow. Plaintiffs still require treatment, regardless of denied, delayed or terminated allowances, and clinic owners end up having to carry the cost of medical rehabilitation in-house (deferred invoicing) until funds become available via a settlement. Settlements can take 1-2 years to materialize and at times, even longer, so retaining aged receivables is not practical. Clinics require cash flow and they should be entitled to receive it.
LEAVE THE BURDEN OF DEFERRED CASH FLOW TO US
It is our goal to help plaintiffs protect the economic value of their legal case. As your lending partner, Finance Bound is committed to helping firms and clinics maximize value for plaintiffs.
No Time Restrictions
We Don't Intefere
True Freedom
We Handle Everything
DISBURSEMENT LOANS
Manage disbursements with funding against the value of a file.
- The borrowing party is the law firm (client signature and/or acknowledgement not required).
- Recover disbursements already invested on individual files rather than waiting for reimbursement upon settlement.
- Defer new (current) disbursements.
- Approvals are based upon individual files (not the law firm).
- Defer principle and interest payments, if desired, to further assist with cash flow.
LAW SUIT SETTLEMENT LOANS / ADVANCES
Manage disbursements indirectly with the use of a Plaintiff Settlement Loan.
- Borrowing party is the client (Plaintiff).
- Receive the funds in trust and utilize the loan as a line of credit, drawing from it as required disbursements arise.
- Defer principle and interest payments, if desired, to further assist with cash flow.
ASSESSMENT LOANS
- Compensate your service providers upon services rendered without affecting your cash flow.
- We factor the account receivables in question, thereby deferring costs until settlement.
Banks offer term loans, credit cards and lines of credit. While interest rates are lower on some of these products, they do not necessarily help with cash flow and they potentially create personal liability. Debt service cannot be deferred and loans are not typically setup as quickly as is the case with a disbursement loan.
With respect to cash flow, high volume practices will require a significant outlay of capital investment in order to sufficiently develop a legal case. Traditional lending can finance such an costs, however the debt service on these loans may not be feasible for practices that already experience high overheads.
As with all lending solutions, all options ought to be considered for the best possible mix of lending to meet your firm’s needs. It is best to have multiple lending products at your disposal as each product is designed to address specific needs.
In the event that your firm ever requires a quick loan with deferred options so as to assist with cash flow, Finance Bound is always available to help.
If you find yourself opposed to obtaining a settlement loan for your client, keep the following considerations in mind:
Availability
A simple online search will yield plenty of options for your client. As such, with or without your help, your client will seek out a solution. The only draw back to them doing it alone is that they’re likely to encounter a pre-settlement loan broker. Inadvertently, this approach will cost them more fees, whereas working directly with lenders will fetch better rates for your client.
Need
The desire for a pre-settlement advance is usually precipitated by a genuine need. Often, clients require funds to pay bills or other unavoidable expenses.
Client Satisfaction
A successful law practice is always built upon referrals. When a client is happy with the service they receive, the trust and rapport they develop will always ensure their return and/or recommendations. Resisting their desire to obtain an advance, especially when it is based upon a genuine need, can potentially harm the relationship with your client as well as restrict future referrals. On the other hand, having quick access to pre-settlement advance solutions can further build the relationship with your client, particularly if funds are obtained and released fairly quickly.
Whether a disbursement or a law suit settlement loan makes sense for the particular client in question, consider adding fund advances to your arsenal of solutions for your clients.
Call us today to discuss your options.