Commercial Litigation

Commercial Lawsuit Loans

Are you a business owner fighting seeking damages against fraudulent customers or clients? Perhaps a client of yours has recently pulled out of a business agreement. Or maybe you are the client, looking to get your money back and more from a contract gone wrong? The nature of business, while anchored in trust, is fraught with deceit, and only justice and compensation can enforce good behavior. But lawsuits are no walk in the park; they are lengthy, arduous, and expensive! Litigation costs thousands of dollars, and can take months or even years to settle. What do you do in the meantime?

In today’s fast-paced legal environment, navigating the complexities of commercial litigation can be daunting—especially when financial burdens pile up. Whether you’re a business owner, a law firm, or an individual fighting for justice, the need for adequate resources is critical. Commercial litigation legal funding, often referred to as commercial lawsuit loans, can offer a lifeline, ensuring your case gets the attention and resources it deserves without placing additional strain on your finances.

In this article, we’ll explore what commercial litigation funding entails, how it works, and why it could be the right solution for you. If you’re looking for ways to manage costs while pursuing justice, keep reading to discover how this powerful tool can help.

What Is Commercial Litigation Funding?

At its core, commercial litigation funding, also called pre-settlement funding, is a cash advance upon a settlement that plaintiffs can use to cover immediate expenses while their lawsuit is ongoing. Unlike traditional loans, lawsuit funding doesn’t require monthly payments. Instead, the funding company provides you with cash now, and you repay it from the eventual settlement or court award rather than out of your own pocket. 

Additionally, litigation funding is not granted based on personal credit. Rather than checking your personal responsibility with credit, availability of lawsuit funding is contingent upon the details of your case and the expected settlement. Since you are not borrowing against yourself, but the settlement of your case, there is no need to check personal credit.

Lastly, the loan is non-recourse, meaning that you do not take on the risk of your own loan. Therefore, if you don’t win your case, you won’t owe the money back, so there is no risk.

How Does Commercial Litigation Funding Work?

Securing pre-settlement funding for a pharmaceutical lawsuit is typically faster and easier than applying for a traditional loan. Most funding companies, including Legal Bay, offer a streamlined application process, and once approved, you can receive your funds within a few days. 

If you’re interested in securing lawsuit funding, the first things you will need are a lawyer and an active lawsuit. An experienced attorney will help you sort through evidence and will be knowledgeable on the ins and outs of your case, and the lawsuit itself is necessary to get the ball rolling.

After that, applying for a lawsuit loan is as easy as 1-2-3!

1. Apply 
   • Begin by submitting your application online or over the phone at (877) 571-0405. You would need to provide your contact information, information regarding your case, and the contact information for your attorney/case manager.
2. Review
   • Once your application and all needed documents are received from your law firm, your case will be in review. We assess cases based on the estimated settlement amount and the likelihood of success of your case. 
3. Funding!
   • Once you are approved, you will receive your settlement cash advance in as quickly as 24 hours.

If you win, repayment of the loan will be taken out of your settlement itself, so you won’t go into the red. And of course, if you lose, you pay nothing.

The Benefits of Commercial Lawsuit Loans

Commercial lawsuit loans offer unique benefits, especially if you’re feeling pressured to settle quickly due to financial stress. Let’s examine some of the most compelling reasons to consider this option:

Legal Funding Relieves Pressure to Settle

When you’re in a difficult financial position, accepting a low settlement offer might seem tempting just to resolve your case quickly. Commercial lawsuit loans provide the funds you need to avoid compromising on the compensation you deserve. This allows you and your legal team to continue building a solid case for fair compensation without worrying about immediate expenses.

How Much Money Can You Get With Commercial Litigation Financing?

The amount of money you can get through a settlement loan depends on the estimated value of your claim. Generally, you may be loaned between 10% and 20% of your anticipated settlement. Legal Bay and other reputable funding companies work with your attorney to determine the right amount based on your specific case.

Loan amounts can vary from a few thousand dollars to much larger sums, depending on the nature of the conflict, the amount of dollars invested, the punitive measures you seek, and the anticipated settlement figure. In business, several thousands of dollars, maybe even millions, could be riding on the results of your litigation. So, if you have a potent case and a high potential settlement figure, you could expect to receive thousands in financing.

 It’s important to remember that this isn’t free money—it’s a cash advance that you’ll repay from your settlement. Ultimately, you will gain less money than waiting for the settlement. But you have to determine if it is worth it to wait for the suit to finish.

Choosing the Best Commercial Litigation Funding Company

Not all commercial litigation funding companies are created equal. When selecting a provider, make sure to do your research into the company’s history to determine their track record with previous clients. 

Ideally, a lawsuit funding company should be transparent about their terms for lending, repayment, and interest. While this information will always be hiding in the fine print of any legal documentation you sign, you shouldn’t need to comb your contract with a magnifying glass. Legal Bay always ensures customers are fully informed about the details of their loan before agreement.

Finally, a funding company should provide quick turnarounds and good client support. How can you expect them to be honest about funding when they can’t even provide good customer service? At Legal Bay, application turnaround times can be as quick as 24 hours if the proper information is provided. Additionally, we always have representatives on the line, ready to assist clients if they need any help.

Why Apply for a Commercial Lawsuit Loan?

If you’re hesitating to apply for commercial legal financing, consider the following. Legal representation is expensive, just one of the many bills you are already dealing with. If you are a client of a business, you already have rent and bills and groceries and other necessities to spend on, but now you have a costly lawsuit to fund! If you are a business owner, this may be even worse. Litigation may already be putting you out of work that is costing you money, but now you have to worry about paying for the litigation itself! Lawsuit loans can provide the necessary financial bandwidth so you can be at ease.

Legal funding doesn’t just alleviate financial stress; it also gives you time and leverage. Without funding, plaintiffs may feel pressured to accept a lowball settlement offer to pay bills or cover living expenses. Defendants will often try to hush lawsuits by offering low settlements and avoiding dramatic courtrooms and arbitration.

Additionally, the money you use to fund your case can help strengthen the case itself by affording expert witnesses and stronger legal representation. Ultimately, the greatest freedom it offers is the financial levity of being able to cover day to day needs, allowing you to focus your energy on fighting in the courtroom instead of fighting your bills.

How Much Does Commercial Litigation Funding Cost?

The cost of commercial litigation finance varies based on factors such as case complexity, duration, and settlement potential. Typically, lenders charge a percentage of the settlement amount, often structured as a flat fee or interest that accrues over time. It’s crucial to understand these terms before committing to a funding agreement.

Commercial Litigation Financing Available at Any Stage

One of the most significant advantages of commercial litigation funding is its flexibility. Whether you’re just beginning your lawsuit or nearing a settlement, financing options are available to meet your needs. This ensures you can access financial support at any stage of the litigation process.

FAQs

How Do I Borrow Money from a Lawsuit Settlement?

To borrow money from a lawsuit settlement, you need to apply for pre-settlement funding with a reputable legal funding company. Provide the necessary information about your case, and if we approve it, we’ll give you a cash advance that you repay once your case is settled.

Are Lawsuit Loans Worth It?

Yes, lawsuit loans can be worth it if you need immediate financial relief while waiting for your settlement. They offer a way to cover expenses without risking your financial stability, as you only need to repay the loan if you win your case.

Can I Borrow Money if I Have a Pending Lawsuit?

Yes, you can borrow money if you have a pending lawsuit. Pre-settlement funding companies like Legal-Bay Lawsuit Funding offer advances based on the anticipated value of your lawsuit, helping you manage your finances while your case is ongoing. The more money your case is worth, the more you might be able to borrow!

How Much Do Lawsuit Loans Cost?

The cost of lawsuit loans varies depending on the funding company and the specifics of your case. Typically, you’ll repay the advance plus any agreed-upon fees once your settlement is received. However, you will never have to repay your pre-settlement loan until your case is settled.

Can I Get a Loan Against My Lawsuit if It Is a Class Action Lawsuit?

Yes, you can get a loan against a class action lawsuit. Specifically, legal funding companies evaluate class action lawsuits similarly to individual cases. In addition, they provide advances based on the expected settlement amount.

What Happens if I Lose My Lawsuit Case?

If you lose your case, you owe us nothing. In fact, lawsuit funding companies get paid solely from your settlement. Therefore, if you do not win a settlement, your assets and personal income remain safe. Moreover, litigation funding companies, like Legal-Bay Lawsuit Funding, are here to ease your stress, not add to it!

Apply Today!

Don’t let financial worries overwhelm you during your legal journey. Apply for a pre-settlement loan with Legal-Bay Lawsuit Funding today and get the financial support you need to see your case through to the end. Contact us now and take the first step toward financial relief.

Contact Legal Bay

Legal Bay is a trusted provider of commercial lawsuit loans, offering fast and reliable funding to plaintiffs. As one of the best pre-settlement funding companies, we’re committed to transparency and customer satisfaction. No hidden fees or complicated agreements. Legal Bay ensures that you get the financial support you need. If your case is especially promising, your pre-settlement funding could be approved same-day! Same day pre settlement loans are definitely an option if your case is promising. Check out some Legal Bay funding reviews to see how we have helped clients get the funding they need.

Ready?

Legal-Bay is one of the few pre settlement funding companies in the legal funding industry that commits a serious focus to funding large and complex commercial litigation cases. Even if you have been denied by other pre settlement funding companies, don’t be discouraged to contact us to see if we can assist you, as this is an area that we truly specialize in. Our team of attorneys and large institutional investors know how to evaluate complex business or commercial cases and complete due diligence in a reasonable amount of time – in hopes of granting the plaintiff the needed funding approval!

Not sure what type of funding you need? We got you covered! Our team can help!

Start your Free Case Evaluation Right now!