Legal-Bay LLC Secures US$10MM Foreign Credit Facility For Lawsuit Funding
New York, NY – Oct. 4, 2011 – Legal-Bay LLC, an industry leader in the Lawsuit Funding Industry, announced today that they have secured a US$10mm foreign credit facility geared toward making substantial cash advances within the Settlement Funding Business. The new credit facility is a direct reflection of the company’s record 3rd quarter sales. It also comes on the heels of a new strategic marketing program, in which the company will receive significant debt financing in order to market the company’s services in most states, 24 hours a day.
The debt financing will enable Legal-Bay to continue with its growth plans of opening new offices in: Las Vegas, NV; Los Angeles, CA; and Tampa and Orlando, FL. This already includes the company’s presence in the New York, New Jersey, Phoenix and Scottsdale, Arizona market. The company is also looking at plans to open offices in the Dallas and Houston, Texas market’s in the next two years.
The new credit line and marketing program means plaintiffs seeking what they refer to as “lawsuit loans” will be able to get their needed cash within 24 hours. Specific cases such as: auto accidents, truck or semi or tractor trailer accidents, Jones Act or boat accidents, wrongful death claims, medical malpractice cases, Depuy hip replacement cases, pedestrian accidents, personal injury cases, commercial litigation cases, Judgment on Appeal cases, Pharmaceutical cases, and the SDG&E California Wildfire cases will receive the highest priority of funding.
Dave Kole, CEO, commented on the company’s success, “right now the company is positioned to reach its goals for 2011. We have access to enough capital to provide the largest settlement funding cash advances in the industry for our clients. But more importantly, our new marketing program and infrastructure investment’s enables us to provide the best funding rates and quickest turnaround industry wide.”
The company announced that they will continue to update their website with new funding services. For more information on the many settlement funding products the company provides, you can access their website at: www.lawsuitssettlementfunding.com or call the company’s toll free hotline 24 hours a day at 877.571.0405.
Dave Kole, CEO
1. The minimum payback period is 6 months – We do not invest in cases with payback periods of less than 6 months. Our maximum APR on a 6 month lawsuit settlement funding payback, including all fees, is 29% annually.
2. The maximum payback period is 36 months – We do not charge usage fees past 3 years, which means you will not be charged any additional money past 36 months. However, if your case does not settle within 36 months you are not obliged to repay us until it officially does. Our maximum APR on a 36 month lawsuit settlement funding payback, including all fees, is 25% annually.
3. CLICK HERE to view example of cost of funding, including all fees, and final payback on a lawsuit settlement funding