2 Minute Video

Accounting

The Irregular Cash Flow Cycle

In this blog, we discuss the challenges for plaintiffs law firms in managing the irregular cash flow cycle associated with contingency fee cases.

Do you constantly think about case acquisition and revenue for your law firm?

Running a contingency fee law firm is a constant balancing act. You want to provide justice for your clients, while also creating and growing a business.

This challenge comes hand-in-hand with difficult financial decisions, between spending money in the pursuit of current cases in the inventory, or investing that money in more cases for the future of your business.

This painful balancing act is one contingency fee law firm owners unfortunately know very well. It hampers the firm’s growth potential, never having enough to invest in initiatives that could accelerate growth such as case management technology, digital advertising campaigns, or hiring high quality attorneys – these all require capital and liquidity but yours are tied up in case costs.

At this point, most law firm owners go to their bank for a business loan. But most bankers do not understand the business model of a contingency fee law firm and struggle to accurately value a law firm’s greatest asset — their contingent case inventory. Consequently, many firm owners will either be rejected or receive a loan for far less than their business needs

Explore Esquire Bank’s progressive approach to law firm capitalization and liquidity, to help efficiently manage the peaks and valleys of growing law firm revenue that contingency fee law firms struggle with regularly.

Watch the video above to learn more about how to manage the irregular cash flow cycle of contingency fee cases.

Looking to Learn More About Law Firm Growth Strategies?

Download the eBook now, “5 Bold Strategies to Grow Your Contingency Fee Law Firm,” to get your hands on our top strategies for achieving exponential growth.

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Financing Solutions Tailored to Your Law Firm's Needs

Discover how leading contingency fee law firms are succeeding with financing solutions from Esquire Bank. Learn how your law firm can leverage its contingent case inventory to gain access to capital so you can invest in key business areas and drive sustainable law firm growth.

 

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  • Life Cycle Stage: Educated - Product Solutions
  • Content Tier: silver
  • Content Type: video

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