Biz2Credit coordinates practice loans for attorneys by using an extensive network of funding sources - a quick and hassle-free practice loan online.
Going into private practice can be an intimidating move, not least because of the costs of running your own business. Fortunately, at Biz2Credit we specialize in coordinating business loans for attorneys to help put them in position to launch their business ventures, so you'll have one less thing to worry about.
Running your own legal practice isn't cheap. From maintaining reliable equipment to continuing legal education to covering case costs, a lot goes into making sure your practice is giving your clients the very best. Whether you're just starting out or want to grow your existing practice, we're here to connect you with the financing you need so you're ready to take on your clients' toughest challenges.
At Biz2Credit, we'll start by collecting information about you and your firm and evaluating your financing needs. Our experts will conduct an in-depth analysis of your business, taking into account the type of law you practice, the clientele you cater to, and your financing qualifications. We will use that analysis to connect you with the best financing options available through our network of funding sources. We have secured many business loans for attorneys over the last several years.
Certified Development Company (CDC) 504 Loan Program
This loan program provides startups with long-term, fixed-rate financing for major fixed assets, such as land and buildings. Typically a 504 project loan for attorneys includes:
- A loan secured from a private sector lender
- A loan secured from a CDC (backed by a 100 percent SBA-guaranteed debenture) with a junior lien covering up to 40 percent of the cost
- A borrower's contribution of at least 10 percent equity
For more information on the SBA's requirements and the role of CDC's, visit https://www.sba.gov/partners/lenders/cdc504-loan-program/operate-cdc.
Some startups do not require a lot of money to get up and running. Microlenders and nonprofit community-based lenders make loans to available in amounts up to $50,000.
To qualify for a start-up loan, borrowers must share personal credit history and a business plan that includes information about the company and how you plan to use your capital. Lenders will look to determine if you have a solid credit score, business experience, collateral and any licenses required to run the business.
Regardless of industry, size or location, all businesses need capital to grow. Since its founding, Biz2Credit has arranged more than $2 billion in funding to small business owners and now processes thousands of new loan applications each month. Biz2Credit lenders include banks, credit unions, microlenders, CDFIs, VCs, and alternative lenders.
Registration is free and takes less than five minutes to complete. Biz2Credit also offers case management services to those borrowers who need assistance throughout the lending process.
Biz2Credit specializes in practice loans for attorneys and we work directly with each applicant to ensure that we acquire the funding that best suits each business needs. Call toll free today at 800-200-5678 for a consultation with one of our case managers.