When Dealing with Uncertainty, Esquire Bank is Here to Help
For contingency fee law firms, uncertainty is a way of life – do I take this case or not; should I invest more time and resources into the case; do we settle before trial or take the case to trial; what are the potential damages or range of damages and more. These decisions are typically measured in years and not in months.
These pain points create unique challenges for managing a legal practice, much less trying to grow the business. With all these variables, the principal challenges are typically financial planning and financing options given the uncertainty and the expenses that are certain – like payroll, marketing, rent and case costs. Some law firms choose to self-finance, but that comes with its own set of risks, rewards, challenges and, yes, uncertainties. Others seek out traditional banks, but traditional banks focus on the firm’s past performance and the partners personal assets. Traditional banks don’t understand, nor can they assess the value of your contingent assets (case inventory) and your case cost assets.
Esquire Bank was built for this purpose. We are a full-service commercial bank, publicly traded on the NASDAQ, dedicated to serving the needs of the legal industry. Where other financial institutions see uncertainty, we see assets. Where others look backward, we look forward. Esquire is the only bank in the country that lends to law firms on the projected value of your firm’s case inventory and case costs at single digit bank rates. As a full-service bank, we can offer significantly better terms that non-bank finance companies.
Esquire Bank has been lending to law firms across the country for over a decade, designing products and services around their unique financial needs. Our team is comprised of bankers and lawyers, providing unparalleled knowledge of the litigation industry and the needs of a contingency fee law firm. We understand that your case inventory and case costs are assets while also having the resources to value those assets and lend against them. Finally, we also understand the difficulty in battling deep-pocketed defendants and the impact it can have on litigation strategy and cost.
It is more important than ever to understand the range of financial tools and resources available to build, manage and grow a law firm. Esquire Bank stands ready to help share its financial knowledge and best practices to run a grow a successful law firm.
Check out our website! https://www.esquirebank.com/