FAQs

What types of cases are eligible for pre-settlement funding?

Cases where injury or harm has been caused are eligible. The most common eligible case types include motor vehicle accidents, slip and fall, premises liability, wrongful death, motorcycle accidents, trucking accidents, general negligence, catastrophic injuries, construction site accidents, medical malpractice, nursing home abuse, civil sexual assault and battery, dog bites, birth injuries, bicycle and pedestrian accidents, boating and ATV accidents, auto accidents involving ride share( Uber and Lyft), whistleblowing, and the Federal Employment Railroad Act.

How do you determine the amount of funding someone is eligible for?

It is determined based on the projected value of your claim and the severity of injuries.

How long does it typically take for people to receive their funding?

After your application has been approved and the agreement signed, your money is sent within an hour.

The entire process: 1) Application is submitted 2) Information needed for underwriting is gathered and reviewed 3) An approval decision is made 4) An agreement sent and signed 5) Funds are sent.

How quickly can funding be approved and distributed?

We get it. When it comes to funding, time is of the essence. Our team is standing by to quickly and efficiently move your application forward. Funding is distributed without delay.

Will funding affect our ability to settle a case?

No. Attorneys maintain control of legal strategy – always. Allira’s role is to provide working capital, not legal strategy. We are a partner and ally.

What does Allira evaluate when reviewing a case portfolio?

We evaluate the strength of the legal position, not traditional lending metrics alone. We want to understand when your cases may settle and for how much and other factors such as firm expenses and overall case load.

What can attorney funding be used for?

Legal funding can be used for anything related to practice and case management expenses. Our clients have used legal funding to pay salaries, hire experts, expand advertising/marketing efforts for new cases, real estate, expanding into different markets, hire staff, fund discovery and more.

What are the risks involved with law firm financing?

One of the advantages of attorney funding is flexibility, but like any form of financing, it should be approached thoughtfully. In contingency-based litigation, timelines can shift, and cases may take longer to resolve than originally expected. When that happens, repayment costs may increase depending on the structure of the agreement.

That said, attorney funding is often designed to align more closely with the realities of legal practice than traditional business lending. Unlike many bank or SBA loans, funding is typically tied to anticipated case fees rather than personal assets, and firms are not required to provide a personal guarantee.

How much capital should a personal injury firm have on hand?

The amount of working capital needed by a firm depends upon your practice, billing and collection cycles, whether you do contingency fee work, and whether the firm is growing and adding attorneys and staff. A firm have three times one month’s expenses excluding draws in working capital. This will need to be increased if the firm has lengthy billing and collection cycles, does contingency fee work, and is in a growth mode.

Does Allira charge repayment penalties?

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How is law firm financing different from traditional loans?

Traditional banks don’t know how to underwrite law firms. The terms could be different, pay interest only for a year or two years. SCA Loan is a much cheaper way to get money. Flexibility they offer that many traditional lenders may not.

What they call an asset. Their cases are an asset to the firm.

We evaluate the strength of the legal position, not traditional lending metrics alone