Lending to Law Firms

30 April 2024

Please join Susan Dunn and Maurice MacSweeney as they explore how Harbour’s lending can help law firms grow.

28th May

As many law firms embark on a new financial year, they are looking carefully at cashflow, finances, and the funding of future projects.

But the current economic climate is challenging for law firms, as they navigate several headwinds simultaneously. As well as dealing with rising inflationary costs and the expense of recruiting and retaining fee earners, law firms are also contending with tax changes for partnerships, delayed payment of bills, client demands for more innovative billing arrangements, rising back office costs like professional indemnity insurance premiums, and the perennial problem of lockup.

At the same time, entrepreneurial firms can see opportunities allowing them to seize competitive advantage: merger opportunities can arise from market consolidation, profit margins might be improved by investment in technology and AI, and more. Can external finance tools help firms invest in the future whilst also navigating current challenges?

On Tuesday 28th May at 5.00pm, Susan Dunn and Maurice MacSweeney will discuss the credit facilities Harbour is now providing to law firms. Referencing case studies from the £65m of credit facilities Harbour provided in 2023, they will explore:

• What Harbour’s funding can be used for – acquisition, lateral hires, monetising lockup, capital investment, and more
• How we monetise WIP and disbursements with on- and off-balance sheet lending
• What information Harbour needs from you
• How we structure security arrangements
• Key terms, covenants, and typical rates
• How Harbour lending interacts with existing debt
• How Harbour makes its decisions

The presentation will last around 30 minutes with time afterwards for discussion and questions. The webinar will be of most interest to managing partners, litigation partners, law firm CEOs, CFOs, or those working in law firm strategy and financial management. 


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