In the high-stakes contingency fee litigation arena, boutique law firms typically have a finite measure of resources to devote to litigation expenses. To work up a case involving complex issues related to various professional disciplines, the expenditure of hundreds of thousands of dollars in expert costs alone acts is par for the course, especially if the suit is a hotly-contested matter. While most firms effectively manage their cash flow to account for the cases on their current docket, the amount of capital they have on hand to devote to these cases is an indicator (and a limitation) on the ability of the firm to grow.
Recognizing this limitation on the ability of firms to expand, Bayshore Funding Solutions provides capital infusions that will allow firms to finance litigation expenses for even more cases. Further, we will never interfere with the decision-making processes or direction of the case after funding, thus leaving trial counsel with absolute freedom to prosecute their case as they see fit.
Importantly, our capital outlay is non-recourse, so if a firm does not obtain a positive result on a case that we provided funding for, the firm will not owe any principal or interest back to Bayshore Funding Solutions.
There is no standard for the method of allocating available capital. However, the crucial expenditures, such as salary, health benefits, office space, litigation expenses and a multitude of other necessary expenses must be paid first from a firm’s available funds before even considering covering the cost of marketing endeavors, client relations, website improvement and other costs that are directed to the “growth side” of a particular firm. However, consider how a firm could reconstitute its growth potential by redirecting firm capital typically used for litigation expenses to high-visibility marketing campaigns, partner or staff seminars or even office improvement, all of which are designed to improve not only the firm’s standing in the public eye, but ultimately the growth of the firm in new ways. With Bayshore Funding Solutions acting as a firm’s funding partner, that firm can determine better and smarter ways to use its resources to expand, instead of being limited to its bottom line.
Many firms also face simple cash flow issues from time to time as they wait for their cases to resolve. The mercurial and unpredictable nature of income generated from a contingency fee-based practice can cause partners and firm administrators concerns on a monthly basis and Bayshore Funding Solutions is ready, willing and able to step in to provide immediate relief from this common issue.
For both capital constraint and resource allocation needs, we endeavor to make the application process as efficient as possible for interested firms. Additionally, our funding options are not burdened by the classic limitations (or concerns) accompanying standard bank loans, credit card borrowing or personal asset depletion and we welcome your call to discuss whether Bayshore Funding Solutions will be a strong funding partner to fuel your firm’s growth.