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3 Tips for Financing a Law Practice

The time has come. You have your law degree, you passed the bar, and you are ready to hang your own shingle and start your legal practice. You need financing however, because you have to pay for a place to work, insurance, and all those other startup costs that come with starting any business. These three tips should help you get started.

Determine What Type of Financing You Need
Determine what kind of financing you need. Do you need to finance general startup costs, or are you more in the market for real estate financing options? Are you already in business but need to bridge a cash gap between invoicing and collection? It may be that you need to look into business loans for attorneys to get the business up and running, or you may need a business cash advance to help with a cash flow issue. Know what you need before you go to a lender.
Shop Around
Not all financing is equal, and neither are all lenders. There could be special options for attorney business financing, and you will want to compare commercial real estate loan rates or cash advance rates to be certain you are getting the best that is out there. Of course many variables from borrower credit to the state of the economy can make a difference, but you will never know what options you have if you do not look at what various lenders have to offer. Technology makes it easier than ever to comparison shop for small business financing.
Get Help
Biz2Credit can help ease the burden of finding the perfect lender with just the right financing options for you. Our network of over 1,300 lenders offers business loans for attorneys, and we can help you find just the one for you. Finding a lender on your own can be tedious and time consuming. Let us help so that you are free to get your business up and running. Visit Biz2Credit.com today to find out more.
This article was originally published by Biz2Credit
Published: December 10, 2014

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