LawFi is the first-of-its-kind digital point-of-service lending platform purpose-built for the legal profession. LawFi provides legal clients true consumer and business installment loans specifically crafted for the financing of legal fees and costs.
Leveraging ABA Opinion 484 lawyers may participate in fee financing arrangements using a fee financing company, and lawyers may further acquire an interest in or form a finance company or brokerage and thereafter refer clients to that entity provided that they comply with Model Rule 1.8(a).
Create and submit your legal merchant application for underwriting and approval. You can start the easy step-by-step application process by clicking on the “Sign Up” button. Once approved, your firm's account will be activated and live. A confirmation email will be sent, and you can log in to your firm's merchant account dashboard to access all the tools and resources you need to add LawFi legal fee financing products and services to your firm's payment options.
Your clients receive the highest quality experience when financing through LawFi. Integrating LawFi into your practice will provide fast, easy, and personalized Legal Fee Loans for your clients within minutes, not days!
You get paid upfront while your client pays us over time.
There is no recourse or clawbacks whatsoever to lawyers and firms. The process is hands-off. There is no handling of loan paperwork, sensitive information, loan management, servicing, or collections. Simply point your new and existing clients to LawFi and we do the rest. It’s a Win/Win for all parties.
LawFi financing enables your new and existing clients to quickly and easily access our loan application portal from any mobile or web device, your firm's website, your branded QR Code, or by clicking the branded Request-for-Loan link you embedded in your firm's emails, engagement letters, and invoices.
LawFi Paygreement Payment Plans automate the legal invoice payment experience between legal bill payors and legal billers.
Join the first real-time payments solution for law firms in the United States. Start receiving and sending funds in seconds, not days. Three days earlier than ACH and for up to 80% less than card fees. Accept low-cost, guaranteed payments directly from client bank accounts. Make funds instantly available to clients when making retainer refunds or settlement payouts.
Leveraging Open Banking technology, our account-to-account solution handles the entire payment journey, from initiation to collection.
Even same day ACH payments can take hours or days to process. Our Pay Instantly™ instant payments helps you get paid within 60 seconds and is available 24/7/365 for up to 80% less the cost of processing fees charged for traditional payment methods. No more waiting for the next business day, or over weekends or holidays to see deposits in your bank accounts.
Eliminate accounts receivables
Reduce operating expenses
Eliminate bad debt expense
Increase cash flow
Offer a brand-new financing option that has never been available, until now...
Differentiate your practice from others and expand your pool of potential clients.
FINANCE MOST ANY CLIENT because our fast decision engine is not based solely on CREDIT SCORES!
Accelerate the growth of your practice.
Attract and close more clients without additional marketing expense.
Eliminate affordability and cost barriers.
Get paid faster!
When your clients are approved for a LawFi legal fee loan, you receive the loan proceeds to pay your fees.
Turn slow-paying clients into paid clients. Convert prospective clients into new paying clients.
U.S. law requires all financial institutions to know and understand their customers.
When you initially approach us to open a merchant account, we must request specific information to enable us to identify, verify, and maintain records regarding your law firm’s structure, business, and the key owners or shareholders and authorized representatives who control and own the business. This is known as (“KYC”) or Know-your-Customer and (“KYB”) or Know-your-Business.
To create a LawFi merchant account, you must be a duly authorized representative or key owner of the firm with the authority to create the account and agree to our terms of service found in our legal merchant agreement and merchant privacy policy. An assistant to a duly authorized representative of the firm who has agreed to allow such an assistant to share and input business and personal information on behalf of the firm and individuals of the firm may also create an account. The assistant must attest to having the duly authorized representative’s authorization to create the account and bind the firm to the terms of service found in the legal merchant agreement and privacy policy. Such authorization is evidenced by the entry and submission of the firm’s information and owner/authorized representative information for merchant account underwriting.
You will need to have access to the firm’s general information, financial information, business owner/shareholder information, authorized representative information, and authorization to access your bank account login information to connect your required operating and trust account(s) to your LawFi merchant account to receive payments and loan proceeds from LawFi.
The following information will be needed to complete the steps in our merchant account application process:
Step 1
Input Law Firm Information
Step 2
Link Bank Account
Step 3
Upload Trust Plan
Step 4
Add Business Owner/Shareholder Information - for each owner of 25% or more. Add Authorized Representative Information
Step 5
Review and Submit Application
Yes! If your merchant account is not approved, you can email us at help@lawfi.com.
No, we do not charge a fee to join our network of legal merchants or to add our financing solutions to your practices.
Once approved, a financing fee is determined based on the client's underwriting decision and scoring of the financed legal matter. A percentage of the total loan proceeds sent to your firm's bank account is calculated (the "Merchant Discount Rate") and charged to your firm to pay our financing fees. After the proceeds are settled into the appropriate account, the financing fee is always pulled from your firm's operating bank account. Fees range from 7.5% to 15% of the total loan proceeds you receive, depending on the borrower's underwriting and case scoring.
Signing up and adding LawFi Legal Fee Financing to your practice is free and easy!
We are signing lawyers in good standing with the Florida Bar from all practice areas to participate in our design, beta testing, and pilot launch in Florida.
A limited number of opportunities to participate in the beta group and invest in LawFi will be offered to the first 248 lawyers who are Accredited Investors. If you are a licensed lawyer in Florida and an Accredited Investor, Click on the “Invest in LawFi” button below to learn more.
Become a part of reinventing the lawyer procurement and payment experience. Help lawyers empower more inclusive access to legal services.
Pilot participants will receive unique perks and be added to our exclusive Founding Legal Partners list.
LawFi network attorneys can participate in LawFi's success by investing in the company through Roll-Up Vehicles (RUVs) offered through Angellist.com.
Participants will receive discounts on their merchant discount rate/financing fees charged on loan proceeds received.
