As a means of financing the out-of-pocket costs and disbursements associated with a particular client file, BridgePoint offers Individual Disbursement Loans to law firms ranging in amount from $2,000 to $50,000 per loan. Multiple loans can be made available in stages for any individual file subject to a maximum of $50,000 in principal outstanding per file. No interim interest or principal repayments are required until the underlying file is resolved, at which time the loan becomes due and payable.

• A good option for lawyers and law firms with lower disbursement financing requirements or for firms interested in exploring the viability of establishing a more comprehensive working capital financing solution over time.
• A financing solution that closely matches the cash flow cycle of personal injury law firms. No periodic or interim debt servicing is required. All outstanding amounts owing for principal and interest are due upon the final resolution of the file – irrespective of how long the file may remain outstanding.
• BridgePoint’s due diligence involves a review of the associated underlying client file. Our firm has established efficient procedures for conducting due diligence, minimizing any disruption to counsel’s time and focus on its case.

Additional Terms:

• Loan interest rate of 18.0% (semi-annual compounding, not monthly)
• Minimum term of six months per loan
• All interest and principal repayments are due and payable upon resolution of the underlying file
• Administration and loan set up fee of $325 plus GST per loan (payable only if the loan is accepted)
• Law firms using this service for the first time are subject to a minimum combined loan request of $10,000