Growth
How BD&J Changed Its Law Firm Growth Trajectory
Kevin Danesh
Founder & Managing Partner of BD&J
Ben Fiandaca
Senior Vice President of Sales at Scorpion
Ari Kornhaber
EVP & Head of Corporate Development at Esquire Bank
In this blog, we feature how Los Angeles-based personal injury law firm, BD&J, PC, significantly changed its law firm growth trajectory by leveraging case cost financing from Esquire Bank.
Five Years In…Now What
During the first five years, the path toward law firm growth often requires law firms to reinvest in the firm’s business operations and marketing efforts to attract leads and new cases.
Many contingency fee law firm attorneys pay for case costs from their revenue (“self-financing”) – which on the surface may seem like a sound approach but can be highly limiting for firms looking to grow operations and expand into new practice areas or geographic locations.
For Kevin Danesh, managing partner at Los Angeles-based law firm, BD&J, self-financing started as cash advances on his credit card, but rose to more than $15 million as his firm experienced success and needed to fund case costs.
Leveraging Case Cost Financing to Free Up Capital
By allying with Esquire Bank and leveraging its flexible financing solutions, Kevin freed up capital that could now be invested in advertising – an event that made a significant impact on the growth trajectory of BD&J. Not only did the law firm increase its ability to get more cases through additional advertising, the improved liquidity freed up personal finances for the firm’s attorneys and enabled the firm to add staffing.
To learn more about how case cost financing fueled BD&J’s growth and significantly changed its law firm growth trajectory, click above to watch this video featuring Kevin Danesh.
Meet with Esquire Bank Today
Whether your goal is investing in growth, expanding your practice, or improving your cash flow, understanding your case inventory is an important valuation for your firm. Leveraging your firm’s case inventory to finance case disbursements can allow you the flexibility and liquidity to pivot your focus to investing in digital marketing, technology, and staff, and ultimately build case value for your clients.
Schedule a no-obligation consultation today to understand how Esquire Bank’s solution-based credit facilities can help you grow your law firm business.
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Growth
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