Attorney Loans

1. A quick application 

2. Ownership structure (need copy of Corporate Structure Setup) 

3. Financials  - YTD and prior year a. PL b. Balance Sheet c. Cash Flow

d. What non-recourse advances are outstanding and with whom? 

4. Tax Return – 2 Years 

5. Location of bank account – IOLTA and Business accounts 

6. Ask – what do they need – a loan, line of credit 

7. Case profile:  Need excel spreadsheet with their case matrix (case name,  venue, docket number, current status, case value, their fee %, whether there  is a referral fee to another attorney and how much.

a. Type of cases b. Mix of cases – Settled vs Pending  • We get on a 20 minute call with the law firm and ask questions, listen to their needs  • We review the information and put together a high level term sheet  • We present the term sheet  • They sign the term sheet  • We then work with outside counsel on legal documents