For law firms with significant, but fluctuating working capital funding requirements, BridgePoint can provide a credit facility with flexible draw-down and repayment features.

• Credit limit is established in accordance with the firm's working capital financing needs, and subject to BridgePoint's credit review process.
• Interest on drawn amounts is payable on a periodic basis (e.g. monthly, quarterly, or semi-annually).
• Similar to our Fixed Term Loan alternative, BridgePoint's due diligence and final lending decision is based on a general evaluation of the “business” of the law practice – primarily dictated by the scale and nature of the firm’s portfolio of active client files, and as with our term loans, no due diligence is required for specific client files.

Additional Terms and Features:

• Loan interest rate of 18.0% (compounding period is dependent on interest payment frequency)
• Stand-by Fee for undrawn amounts (dependent on size and expected utilization of facility)
• Term of the facility ranges from 2 to 5 years
• Minimum size of the credit facility is $100,000
• Administration and loan set up fees vary with size of the facility