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ENTREPRENEUR GROWTH CAPITAL ANNOUNCES NEW ATTORNEY FUNDING DIVISION
Introduces Legal Factoring Service for Plaintiff Law Firms
(NEW YORK CITY) – Entrepreneur Growth Capital, LLC continues its expansion in to new financial services with the creation of its Attorney Funding Division. This division will provide legal factoring services to plaintiff law firms by buying their legal fees from settled cases.
“The entire area of financing for plaintiff law firms is evolving rapidly and we saw an opportunity to bring our decades of experience in factoring and asset-based lending to the legal community,” said Dean Landis, President of EGC. “Plaintiff law firms have been hurt like everyone else with the stricter lending requirements by banks and have always been limited in borrowing, because the law firm’s primary assets are accounts receivable. We have been financing accounts receivables since 1937 so this is an asset that we understand well,” he said.
Cash flow acceleration for attorneys’ fees has been around for 10 years, but has only recently started to be accepted by plaintiffs’ firms. “The real market is not the struggling law firm that has few fees to factor, but the growing, successful firms that need capital to handle their expanding case inventories,” said Mr. Landis. EGC is also working with traditional lenders to even out the law firm’s cash flow so the firm can their make monthly loan payments.
EGC has always believed in providing personal service to its clients and has assembled a team with extensive legal background to work closely with its legal clients. “This is a new area for EGC, but not a new area for our Attorney Funding team. We look forward to bringing our high level of service to law firms,” said Mr. Landis.
About EGC
Entrepreneur Growth Capital is located on Park Avenue in Manhattan and provides asset-based lending and factoring services to small and medium businesses throughout the United States. Its president, Dean Landis, is the third generation to head the company which traces its roots back to 1937. EGC’s Credit Cash Division is one of the fastest growing providers of loans on credit card receivables.
For more information contact:
Entrepreneur Growth Capital, LLC
Mark Pruner, Vice President
505 Park Avenue
New York, NY 10022
212-838-4840
