It is estimated that more than 90% of new businesses do not survive the first five years of their launch due to stiff competition and limited opportunities.
While this may sound demotivating, there is a silver lining to this if you are looking to grow your business: Learning from their mistakes.
Many businesses crash because they fail to recognise the opportunities for growth and end up taking action that turns out to be too little and too late. For many small enterprises and law firms looking to grow their business, the right funding at the right time can secure their prospects.
If you have a growing business, you should be familiar with disbursement funding and its many benefits. In this article, we shed light on some of them.
Cash Flow Alternative
Cash flow is one of the most important aspects of any operating business, without which, businesses are doomed to fail. While every business has cash flow troubles, many business owners do not realise how disbursement funding can help them in not just staying afloat, but expanding aggressively.
For growing law firms, this can take care of the third-party costs that invariably arise with each case. For instance, the medico-legal documentation, court appearance costs and the fees for lawyers, witnesses and experts. Other professional service providers also have similar costs making their way into their day-to-day operations.
Disbursement funding reduces the dependence on other cash flow sources while managing your day-to-day expenses with ease. When you avail disbursement funding solutions, a solicitor is appointed to handle payments for expenses – a convenient and practical remedy for payment settlement.
Ease of Usage
Leading disbursement funding entities firms like Providior have a simple and transparent mechanism in place, making it easy for SMEs to avail extra working capital. In the rapidly evolving financial space, traditional financing entities are lagging, unable to serve the needs of specific industries. Disbursement loans on the other hand offer tailored solutions for every small-scale enterprise looking to reach further in their business.
No more complicated filing procedures, heaps of paperwork or weeks’ worth of waiting time to chase your business goals.
Get More Time
One of the best things about disbursement funding is the extended timelines. The payments can be held off until settlement and this period can extend up to 30 months. This is where it also differs from a classic bank loan situation that comes with a straightjacketed approach and limited options.
With this option by your side, you can focus more on business and worry less about repayments. With the right funding solution provider, cash flow bottlenecks become a thing of the past. Disbursement funding solutions for professional services and law firms are the ideal way to manage your third-party expenses whilst ensuring rapid business growth.
Take advantage of this potent financial solution used by thousands of firms across the globe, and for good reason – it offers a legal, safe and straightforward way to gain more working capital without hidden costs.