Small Business Loans for Law Firms
If you’re an attorney looking for law-firm financing, here’s something that you won’t object to: Pursuit has many options for law-firm loans, whatever the case may be:
- You made it through law school, passed the bar and are ready to launch your practice, so you need startup funding for a commercial lease, office equipment, a website, professional insurance and even an assistant.
Your firm is growing and you’re ready to bring on additional attorneys and staff to diversify your specialties and build regional presence.
- And if you’re practice is established and thriving and you’re looking to build your brand, bring on staff and buy, build or renovate a space to suit your expansion – we’ve got law-firm financing options for you, too.
Our experienced team can help you find the best small business loans for your law firm and our business loans for lawyers offer funding options from $10,000 to $5.5 million, so whatever your law-office loan needs are, we’ve got you covered. Our flexible loans cover an extensive range of expenses, too, from commercial real estate purchases and renovations and purchases of office equipment and furnishings to working capital and marketing funds, to bring your vision for your practice to fruition. We even have options that enable you to refinance existing debt that you may have taken on for law-firm financing costs.
A variety of loan options to suit a range of law-firm needs
Pursuit offers more than 15 loan options, including U.S. Small Business Administration (SBA) options, on our own and in partnership with banks and other lenders. In addition, because we specialize in helping lawyers who may not qualify for conventional commercial loans – including startups and newer law practices, when early-career attorneys may be trying to balance student-loan debt with the expenses of launching and building a practice – we make it easier to get approved, so you can get on to helping your clients.
Among our popular options are:
- SBA Microloans from $10,000 to $50,000 that can be used for everything from working capital and equipment upgrades to refinancing high-cost debt and more. They also offer an easy application and quick turnaround, so approved clients have funds within a week.
- Pursuit SmartLoans, from $10,000 to $100,000, are ideal for short-term and more immediate funding needs, such as the launch and marketing of your law firm, with a quick application and money in your bank within five days of approval.
- SBA 7(a) and Community Advantage loans are among the most popular law-firm loans because of their flexibility, advantageous terms and higher funding limits – up to $5 million. Qualified uses include business-related commercial real estate purchases, construction and leasehold improvements; purchases of major equipment; working capital; the expansion or acquisition of existing businesses, including acquiring existing law firms; computer hardware and software purchases; and refinancing of existing business-related debt.
- SBA 504 loans offer low owner-equity requirements (10%, compared to 20-30% for conventional loans) and longer repayment terms with funding up to $5.5 million, for purchases or improvements to owner-occupied commercial real estate, buying or leasing equipment, working capital and refinancing business debt. These loans are made in partnership between you, Pursuit and a commercial lender (of your choice or we can help you find one to partner on your deal).
Whatever you need for your law-firm financing, Pursuit has solutions
If your practice is located in Connecticut, New York, New Jersey or Pennsylvania, Pursuit can help, so when you’re ready to launch or grow your practice, review our business loans for law firms to see all of the options that will work for you.
Then, get in touch: Our loan advisors will meet with you, get to know your vision for your practice and work with you to help you get the funding you need to succeed.