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New York is a major global business hub known for its diverse industries and vibrant economy. However, the competitive environment can sometimes lead to business disputes. Unfortunately, navigating these business-related legal challenges can require a lot of money, time, and other resources. Hence, if your business is involved in commercial litigation (as a plaintiff), you can apply for New York commercial lawsuit loans to secure the financial support you need during this period.
High Rise Financial is a reputable legal funding company that offers affordable commercial lawsuit loans to clients across New York State. Our business lawsuit loans provide quick access to funds and can help you cover legal expenses and maintain your operations without putting your company’s future at risk. Also, there are no credit checks and revenue validation when you apply. Our financial specialists will approve your commercial litigation funding request based on the merits of your case and other applicable criteria.
Are Commercial Lawsuit Loans Legal in New York?
Yes, commercial lawsuit loans, also known as commercial litigation funding, are legal in New York State. The state allows third-party litigation funding, which means businesses can receive financial support from external sources to cover legal costs and other expenses while awaiting a settlement. Also, this type of funding is not heavily regulated in New York. Hence, it provides businesses with the flexibility to secure the financial assistance they need during legal disputes.
Additionally, New York’s legal structure supports the use of commercial lawsuit loans by recognizing the importance of access to justice. These commercial pre-settlement loans help businesses level the playing field against well-funded opponents. It ensures that they have the resources to pursue their cases effectively and seek deserved justice. Though, there are some ethical concerns and debates around litigation funding in New York State. Regardless, it remains a valuable tool for businesses that are facing lengthy and costly legal battles in the state.
Eligibility for New York Commercial Lawsuit Loans
To qualify for a commercial lawsuit loan in New York, your business must meet certain criteria. Here are some key eligibility requirements:
Ongoing Lawsuit: Your business must be involved in an active commercial lawsuit, such as a breach of contract, antitrust, intellectual property dispute, international tort, or fraud case.
Strong Case Merits: Your ongoing commercial lawsuit should have strong merits. This means there is a good chance of winning or reaching a favorable settlement.
Legal Representation: Your business must be represented by an attorney who is handling the case and can provide the necessary documentation and information.
Potential Settlement Value: The estimated value of the potential settlement should be sufficient to cover the pre-settlement loan amount and associated costs.
Business Stability: While credit checks are not required, your business should demonstrate financial stability and the ability to continue operations during the lawsuit.
Jurisdiction Compliance: The lawsuit must be filed in New York State, and the case should be proceeding within the state’s legal jurisdiction.
Once you meet these criteria, your business will be able to apply for our New York commercial lawsuit loans. This can help your business secure the financial support it needs to navigate the legal process and maintain operations during this difficult period.
How to Apply for Our Commercial Lawsuit Loans in New York State
Applying for our New York commercial lawsuit loans is easy, fast, and stress-free. Follow these simple steps to apply and get the financial support your business needs:
Reach Out: Reach out to our dedicated representatives to inform them about your ongoing business lawsuits and your interest in getting legal funding.
Fill Out the Application: Complete our online application form with details about your business, including your contact information and the nature of the ongoing lawsuit.
Submit Documentation: Provide the contact details of your legal team and other necessary documents related to your case to support your application.
Attorney Consultation and Case Review: Our team of experts will schedule a meeting with your lawyer. We will review your case to assess its merits, including the strength of your evidence, how long it may take your case to settle, and the likelihood of a favorable outcome.
Approval Process: If your case meets our criteria and you qualify for funding, we will approve your application and present you with a customized funding offer.
Receive Funds: Once you approve our offer and sign the agreement, you will receive the settlement funds quickly, usually within 24 to 48 hours.
Use the Funds: You can use the cash advance to address your immediate financial needs and cover various business expenses, including payroll, legal fees, operational costs, and more.
How Much Money Can You Get from Our New York Commercial Litigation Funding
However, the amount of money you can get from a commercial lawsuit loan in New York State depends on several factors:
- The strength of your case, including the quality of evidence and the likelihood of a favorable outcome.
- The estimated value of the potential settlement, based on the damages and compensation you may receive.
- The legal expenses involved, such as attorney fees, court costs, and other litigation-related expenses.
- The financial stability of your business, which shows your ability to maintain operations during the lawsuit.
- The jurisdiction of the lawsuit, as different regions may have varying regulations and practices.
- The amount of funding requested, based on your specific financial needs and the nature of the legal dispute.
Our trusted financial specialists will consider these factors to determine the commercial lawsuit loan amount that can best support your business during the legal process.
Need Non-Recourse New York Commercial Lawsuit Loan? Call Us Today
If your business is facing financial distress while your corporate lawsuit is ongoing, applying for a New York commercial lawsuit loan may be right for you. Contact High Rise Financial today to learn more about the commercial cases we fund. Our dedicated team can educate you about your possible legal funding options and walk you through the application process. Call us at (866) 265-8738 to apply. We proudly serve clients in different cities throughout New York State.