ForLawFirmsOnly.NET now has financing programs tailored to the attorney tired of in house payment plans or worse losing a client who needs your expertise because they can’t afford your retainer. In the field of legal financing our program is the next generation, we are setting high standards for service.
Your clients will appreciate this finance opportunity because finally they can get the legal representation they need, not just the legal representation they can afford. This innovative program solves problems for attorneys AND their clients. Your clients find out quickly (within 60 seconds) what loans they qualify for on any device and are able to electronically sign the paperwork after accepting the terms of the loan. We finance prime credit and credit scores down to a 550 by working deep into your client’s credit profile. We can provide unsecured loans from $1,000 to $35,000 with terms ranging from 12 to 84 months.
We offer a dashboard for your business and you are able to see who has applied, who is approved and you know when your client is paid. Our lenders follow the usury guidelines in every state in which they offer loans. This is a win for your law firm and a win for your clients, not to mention what it will do for cash flow.
LEGAL FEE FINANCING PROGRAM #1
Program Description - Single Application, Multi-lender platform that funds the borrower and approves consumers with credit scores as low as 550 (lender below 600 caps at $10,000), amounts from $1,000 to $40,000. The borrower is funded directly. Preapprovals are subject to verification of certain information . Final approval/funding can take 2 to 5 days
Electronic Sign Up - Merchant Application, voided check, business license
Cost to Borrower - Rates from 3.9% to 32%, based on credit grade. No SAC Promotions, Up to 60 month loan terms (the rate your client pays is dependent upon credit score)
Borrower Terms - Rates from 3.9% to 32%, based on credit grade. No SAC Promotions, Up to 60 month loan terms
Cost to Law Firm - 3.9% of funded loan plus a $49 admin fee deducted from business 10 days post funding. (about the same as taking a credit card online)
Business Set Up Time - Typically 2 to 3 days for setup
Setup Fee: $240.00 Fee Collected at the time of set up
Monthly Subscription Fee: $59 per month collected at Setup and every 30 days thereafter. Fee is collected and applied to future funded loans as a rebate. (maximum $118.00 per funded loan) Any balance is then rolled over to the next funded loan.
LEGAL FEE FINANCING PROGRAM #2
NON CREDIT BASED
Design your own in-house financing plan that we manage for you.
Ideal for law firms who don't want to manage payment plans.
Defaults are low because to the consumer, it looks like a third party loan.
There are no payments for you to collect or collection calls. We do it all for you.
* Plan offerings are designed to take into account the payout worthiness of the applicant, the product/service you offer, and profit margin. You decide the risk and the amount required for down payment. We can run credit on each application and you determine the approval criteria or, you can decide to approve everyone. The choice is yours.
* Easy on-line application
* Credit, banking & fraud analysis
* Control your own credit terms: You have the ability to vary the minimum down payment, interest rate and term according to your risk comfort
* You have complete management of the billing and payments life cycle.
* Consumer portal and communications
* Much lower default rates than self-managed payment plans
* Earn interest to offset costs and risks * Utilize it to collect on existing accounts receivables
* Proven technology with over 50 billion transactions annually
* Co-branded loan environment and portal Cost To Business: $495 Additional one time setup fee for customized plan, training and orientation plus, $39.95 Additional monthly subscription fee.
A merchant account with Card Connect is required for In-House Payment
Plans Documents Required: voided check, copy of FEIN (Federal Tax ID), business owner's driver's license
Cost to Consumer: $49.95 Plan Origination Fee, $5 Monthly Transaction Fee
Allow 4 to 6 weeks for complete customization and setup