Momentum Funding is one of the newer companies on our list of web reviews. They were founded in 2015 in Boca Raton, Florida. Would a newer company have some fresher ideas on how to do pre-settlement funding?
That’s what we aim to find out by studying the current web reviews of Momentum Funding. We last refreshed our research in July 2021, so if it’s been a while since then and you think we’re now wrong, let us know so that we can do another review!
What Cases Does Momentum Fund?
Like our company, Momentum Funding offers quick pre-settlement loans that are non-recourse. They claim to have no up-front fees and emphasize that if you don’t win your case, you won’t have to pay them. Some of the case types they fund include:
- Car accidents
- Premises liability
- Product liability
- Employment cases
- Workers’ compensation
- Nursing home abuse and negligence
- Mass torts
- Jones Act
- Wrongful death
If your case type isn’t on this list, we recommend reaching out to Momentum just in case. What’s more important is which state your case is from because they don’t fund cases from all states.
Momentum Doesn’t Fund Cases From All States
They make it clear that they do not take cases from some states, so if you fall into one of those states then you’ll need to find a pre-settlement lender that will. Not every lender is qualified to fund cases in every state, so this is pretty normal especially for newer companies.
Currently, the states they don’t fund cases in are: Arizona, Arkansas, Colorado, Idaho, Indiana, Iowa, Kansas, Kentucky, Maine, Maryland, Nebraska, Nevada, New Mexico, North Carolina, South Carolina, Utah, Vermont, West Virginia, and Wyoming.
To see a full list of the states where we fund cases at High Rise Financial, check out our states page and click on your state for more information.
How Much Can You Get From Momentum Funding?
This is something that’s a bit of a black mark on the company. There is no clear sign of how much or how little they’ll lend to you, though they do call their amounts “conservative”. Many other lenders, like us, mention our range of loan amounts.
A good portion of the negative web reviews for Momentum Funding also surround loan amounts, especially for loans beyond the first. Every lender will have different policies about how to qualify and may require more information before issuing a second loan.
Setting expectations is an important part of lending. If Momentum Funding isn’t clarifying that additional funding will take time to approve, then that’s a problem. There’s no way for us to tell if they are making it clear, but if you feel you may need multiple payments, then budget in a delay while they process your request.
Lawyers Seem to Love Momentum Funding
Any legitimate pre-settlement finance company has to make good relationships with both borrowers and lawyers. The Daily Business Review named the company Best Litigation Funding Company and there are many positive web reviews on Google from lawyers about Momentum.
Getting positive reviews from law firms likely means that they are referring their clients to them for pre-settlement funding if they need it. Since a lawyer’s reputation is everything, that’s a good sign of confidence in the company.
Most of our readers will be more interested in how they can serve them though, and there’s reason for concern. The Better Business Bureau only has a 3.09 out of 5 rating for the company, though zero formal complaints.
Final Verdict: What High Rise Financial Thinks
Law firms in the states they operate seem to like them, but beyond that there is too little information about possible loan amounts, interest rates and types, and their policy on asking for multiple loans for borrowers to make an informed decision.
On the whole, the Momentum Funding web reviews we found look to be about 80% good and 20% bad, and we found a little over a hundred of them in our search. Compared to some of the other companies we’ve reviewed, there may be better options for you.