In this blog, we discuss how Kreindler & Kreindler leveraged case cost financing to invest in financial success and law firm growth.

For many law firms, it can be a point of pride to self-finance case disbursements rather than taking advantage of financing options. Self-funding case costs can put law firms at a disadvantage by hampering their liquidity and cash flow. This leaves them less flexibility to invest their hard-earned cash back into their business. Many firms erroneously believe they have to pass on the interest to their clients when they finance case costs. However, each firm can choose whether they cover the interest themselves, pass on the interest to their clients, or only pass on the interest to clients for certain cases and not other. It’s entirely up to the firm.

Such was the case for Kreindler & Kreindler, a NY-based aviation accident law firm. With their long tradition of paying for case expenses, the firm was tying up millions of dollars in cases which could have been reinvested in their business. Once they investigated the possibility of case cost financing with Esquire Bank, the firm realized they could free up that capital for growth.

Click above to watch this video featuring Noah Kushlefsky, managing partner of Kreindler & Kreindler,  as he talks through the steps the firm took to become utilize case cost financing and invest in financial success and law firm growth.

For more on Esquire Bank’s expertise in providing tailored solutions for law firms, please visit Esquire Bank’s resources portal, Lawyer IQ, where you can learn about growing your business, financing for law firms, marketing strategy best practices, and more.

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