Law firms, like any other successful business, need the cash flow to drive ahead. Law firms generally tend to look up to banks and other traditional funding resources to bridge the cash-flow gap. However, they do not get the business funding in Louisiana approved quickly in most cases from traditional lenders. Banks look at the law firm’s contracts and the value of assets held by the owners/partners. They scarcely understand the value of the cases in progress and do not sanction loans based purely on the value of pending lawsuits.

1. The Business Funding Needed
In orderto getyour businessoff the ground,aswell askeepingitthere,youneedthe cashto doso.
Gettingthiscash can howeveroftenbe adifficultprocessandwill be made more difficultif youhave
othercommitmentsalreadysuchasa mortgage,car and a familytosupport BusinessFunding.
The traditional route of gainingbusinessfundinghasalwaysrevolvedaroundvisitingyourbank fora
bankloan; howeverthisroute isn'talwaysthe besttoapproachwhenyouare lookingforstart-up
businessfundingasbanksare knownto not like providingnew,small businesseswithmoneyasyour
businesswillhave nofinancial historyandyouwill more thanlikelyhave noassetsonoffertosecure the
loan.
Whenstartinga newbusinessventure itisimportantthatyougetthe start up fundingfromsomewhere
that can provide youwithwhatyouneedandthat you will be able tohave a goodworkingrelationship
with.
One thingthat youcoulddo inorder to getthe start-upfundingthatyou needistotake a lookat your
personal finances Alternative Funding,your'inventory,'tofindoutif youwouldbe able to fundyour
businessyourself.Thisconceptishighlyunlikelybutsome people have actuallymanagedit.Youshould
lookat the moneybringbroughtinby a part time job,a life insurance policyandfamilyandfriendsas
well asany moneythatyouhave at yourdisposal froma creditcard.
By usingpersonal financesyouineffectbecome yourownboss,whichgivesyoucontrol overyour
money.If,like manyyoucan't affordtouse personal financesyouhave the optionof borrowingmoney
or gettingthe helpof an investor.Youmaywantto borrow finance tocoveraspectssuch as day-to-day
expenses.The mainwaythatthisis done isthrougha loan;however,aspreviouslymentioned, many
banksare reluctanttogive a loan toa new businessventure.
The bestway inrecenttimesfora businesstogainthe finance thatisneededisthroughthe use of
equityfunding.Equityfundingisshare capital Alternative FundingGroup,whichisinvestedinyour
businessinreturnforyouhandingovera share of yourbusiness.
Whateverbusinessfundingyouare hopingtouse withinyourbusinessthere are certainquestionsthat
youneedto askyourself suchas:
o How muchfundingyouneedandforwhat
o How muchcontrol you're hopingtoretainand the skillsthe businessneeds
o How longyouneedthe fundsfor
Alsorememberthatif youare hopingto getbusinessstart-upfundingfromabank or investoryourwill
needtoaddresssome core pointswithinyourbusinessplan,suchas:

2. o What are yourfundingneeds?
o Are your plansforthe businessrealistic?
o Is yourventure appropriate forexternalinvestment?
Whateverbusinessfundingyoudecide onyouneedtoensure thatwithinyourbusinessplanyouhave
statedhowmuch fundingyouare hopingtogain as well aswhatyou wantthisfundingfor.