The world of litigation can be a complex and convoluted legal avenue. It can be a very expensive and time-consuming process, so naturally, there are many small businesses (and law firms) that simply can’t afford to pursue commercial litigation action. Fortunately, there are litigation finance firms that offer their services to clients who are unable to pay for their legal fees without the assistance of a third-party. Basically, litigation funding, sometimes known as legal financing, is a process that allows a party to litigate or arbitrate without having to finance the entire legal process.
If you are in need to commercial litigation services and are simply unable to pay for it, here are the top 5 best litigation finance companies in NYC!
5 Best Legal Financing Firms in NYC:
Here are the leading legal financing firms:
- Baker Street Funding – America’s #1 legal funding company
- Oasis Financial – highly regarded in the world of commercial litigation
- LexShares – provides a range of funding options
- Pravati Capital – has extensive experience in finance
- LawCash – started operating nearly 20 years ago
#1 Baker Street Funding
There’s no doubt that Baker Street Funding is one of the most trusted and well-respected litigation finance companies in New York. They provide reliable, comprehensive funding solutions for a wide variety of clients, whether it be for pre-settlement funding, law firm funding and commercial litigation funding. With Baker Street Funding, you can get up to $5 million in finance within a mere 24 hours.
If you need commercial litigation financing, the process of acquiring Baker Street’s services is relatively straightforward. Firstly, submit an application with Baker Street Funding through your current lawyer. They cannot provide you funding unless you have legal representation. Secondly, they’ll assess all the strengths and weaknesses of your funding request, including the legal merits of all parties involved. Thirdly, they’ll establish a conference call with your legal counsel, where they’ll clarify any questions they have. The quicker this occurs, the quicker you get your funds.
#2 Oasis Financial
Oasis Financial was founded in 2003 by a group of devoted and committed lawyers who saw a lack of services for clients with inadequate financial resources. They realised that a lot of these clients were unable to afford litigation because of other more pressing expenses, like medical bills and living costs. Because of this, Oasis Financial launched their pre-settlement funding scheme as a way for plaintiffs to receive necessary finance when they desperately need it.
Oasis Financial is highly regarded in the world of commercial litigation. They are founding partners of the Alliance for Responsible Consumer Lending (ARC) and Americans for Patient Access (APA). They have an A+ rating from the BBB (Better Business Bureau) and have provided a financial lifeline to over 250 000 individuals throughout their history. On top of their pre-settlement funding options, Oasis Financial also provides clients with finance in auto accidents, workers’ compensation claims and other injury-related claims (like general negligence or wrongful death).
LexShares provides a range of funding options to law firms, clients and lawyers. Even as a relatively new company (founded in 2014), LexShares has managed to evaluate over 825 000 cases. They have over 70 years of combined industry experience across a variety of different types of commercial funding for clients.
LexShares helps clients cover their legal fees, along with their level of working capital and cashflow margins. Their non-recourse funding services can provide individuals with a plethora of benefits, such as improved outcomes in line with the merits of their case, along with mitigating financial risks because it is no longer money out of your pocket. Furthermore, commercial litigation services can unlock your business’ level of liquidity by monetising your legal claim and can even cushion your personal expenses. Finally, LexShares can help you get access to top resources, which will leverage your financial flexibility and improve your long-term financial future.
#4 Pravati Capital
Pravati Capital has extensive experience in finance, law and the creation of start-up companies. In fact, their board of advisors consists of industry experts in private equity, venture capital and even institutional finance. Because of their technical expertise, Pravati Capital has remained one of the leading providers of commercial litigation in the NYC finance market.
Pravati Capital has developed a reputation for success, innovation and reliability. They are compassionate and understanding of different client needs and desires, which is why they only work with the best, most experienced minds in litigation finance. From a funding perspective, Pravati Capital understands that many legal matters can take months, sometimes even years to finalise. This puts a great strain on the client and the law firm handling the case. In fact, more than 28% of lawyers have received some form litigation finance to help streamline their capital during complex, long-term matters.
As a result, Pravati Capital endeavours to provide clients (including law firms) with low-risk funding options that present a variety of benefits over traditional banking channels. This enables law firms to continue to grow and pursue more opportunities, even if they don’t have the necessary liquidity or cash in hand.
The final addition to our list of top 5 best litigation finance companies in NYC is LawCash. LawCash specialises in providing clients with financing advances, post-settlement funding and pre-settlement funding. They have a proven track record of exceeding client expectations and can provide you with money in your pocket at a rapid turnaround. Currently, LawCash has provided finance to well over 100 000 clients.
LawCash started operating nearly 20 years ago and was one of the founding organisations of the litigation funding arena. While many litigation finance companies in NYC have tried and failed, LawCash has remained a constant force throughout global recessions and credit crises, like the global financial crisis of 2007-09. They are a founding partner of the American Legal Finance Association and have had a central voice in creating legal standards for commercial litigation.
At the end of the day, if you need commercial litigation funding for your firm or business, you should certainly consider the businesses in this list. What makes these firms rise above their competitors is their reputation and unwavering commitment to their customers. Don’t let your bills consume your business and ruin your life – get in touch with a commercial litigation company today!
Cameron Dickerson is a seasoned journalist with nearly 10 years experience. While studying journalism at the University of Missouri, Cameron found a passion for finding engaging stories. As a contributor to Kev’s Best, Cameron mostly covers state and national developments.