Free up your disbursements with our File Financing™ solution

 

What it is:

The reality of personal injury litigation is that it is complex, time-consuming and capital intensive. Our File Financing program is designed to free up cash flow to more efficiently finance new disbursements or reimburse yourself for disbursements already incurred.

How it works:

Loans are managed on a file specific basis which facilitates the recovery of any financing charges. The maximum amount of the loan is determined by the strength of the case — we can provide up to 50% of your total contingency fee for each file for unsettled claims. The advance maybe used for any law firm expense which may include:
○ Disbursements for new cases
○ Recouping disbursements on existing cases
○ Hiring more lawyers or opening a new office
○ Increasing your marketing budget
○ Paying salaries or partner draws
○ Any law firm related expenses

Key loan details:

  • One-year term with no interest payments required (may be extended another year with annual interest payment)
  • No fees
  • Minimum six months’ interest
  • Maximum loan is 50% of your contingency fee

 

FAQs

What is the typical loan size?

 It is typically $100,000 – $2 million, depending on the contingency fees outstanding. Higher funding thresholds will be evaluated during the application process.

 

What can I use this loan for?

○ Disbursements for new cases
○ Recouping disbursements on existing cases
○ Hiring more lawyers or opening a new office
○ Increasing your marketing budget
○ Paying salaries or partner draws
○ Any law firm related expense

 

Is there reporting?

We can generate a reporting summary at a file or firm level, to support you.

 

What is the term of this loan?

One year, which can be amended for another year with the payment of interest, as specified within the contract.

 

What is required to receive the funds?

We require the executed loan agreement, two pieces of identification, a copy of the business name (title) registration. A Law Society Review and a PPSA and BIA search will also be conducted, prior to the loan.

 

How long does the application process take?

Our process is fast and efficient. With the necessary documentation submitted and approved and the contract executed, you will get your line of credit within 48 hours.

 

Don’t see your question answered here? Call 1-888-291-4488 or email [email protected]hinofinance.com to contact one of our client service representatives.