In a recent conversation with one of the most well-respected immigration attorneys in the country, he asked me a very simple question – “what are the top 5 things I need to know about financing?” It dawned on me that if he had that question, other attorneys might have the same question.
When A Client Is Approved, It’s Like Getting Paid In Cash
When a client accepts a financing offer, it’s the equivalent of getting paid your full retainer fee upfront. That’s right – 100%.
It Increases Cash Flow – Sometimes Significantly
We all know that clients who go on in-house terms don’t pay over the long run. At best, you are looking at getting paid 70% of your full fee. By offering client retainer financing and getting paid your full retainer from a client you might have extended in-house terms to, it’s like finding money in your pants pocket. It was yours to begin with, but it could have easily been missed.
Instant Approvals Help You Sign More Clients
Getting a client approved for a financing offer takes less than 90 seconds. You can get them approved and under contract within minutes. no driving to the bank, and waiting in line.
You Are Already Offering Financing – And It’s Costing You A Fortune
When you offer In-House payment terms, you are offering financing. The good news is you are getting paid half your fee upfront. The bad news? You are the bank for the rest, and your track record of collecting payments is pretty bad. That’s why client retainer financing is so important. It removes risk.
It’s Compliant With Your State Bar
We follow 5 major bar tenets to stay compliant. No compulsion to perform. No limitation of choice. Fair market pricing. No compensation other than the collection of legal fees. Arms length transaction. By ensuring that we operate in compliance with your state bar rules, we remove any barrier to entry.
If you would like more information about offering retainer financing for your clients click here.
iQualify Lending is the most powerful program an attorney can offer. our ‘Easy Retainer Financing’ platform has helped clients receive millions of dollars in loan offer to pay for their legal cases.
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