There are generally
no restrictions on how a law firm can invest the funds received by BridgePoint.
In addition, our financing alternatives are set up to complement a law firm's pre-existing banking
relationships, not conflict with them. Depending on the circumstances, BridgePoint can structure
its loans to be subordinate to the debt obligations of banks or other traditional financing
institutions with whom a law firm may already have an existing loan or credit facility.
BridgePoint offers flexible financing alternatives to satisfy a broad range of objectives:
- Smaller individual loans for disbursement expenditures attributable to individual client files, with loan and interest repayment(s) due upon the resolution of the underlying file.
- Larger loans used to finance the more general working capital requirements of a law firm.
Each of the our financing alternatives is a direct borrowing transaction between BridgePoint and lawyers individually or the law firm itself - not the firms' individual clients.
In fact, our lending process is completely invisible to the law firms' clients – they do
not have to sign documentation, act as guarantors, or otherwise become involved in the lending process.
Unlike most banks and other traditional lending institutions, BridgePoint does not require lawyers to pledge their personal assets as security for a loan. We consider a lawyer/law firm's
investment in active files, its work-in-progress (WIP), to be its single most valuable asset, and it is from this asset exclusively that we derive the collateral security for our Law Firm Loans.
For more details on how our collateral security process works, please
click here.