Solicitor Practice Loans

Would your firm benefit from our loans?

Our unsecured practice loans can assist solicitors and law firms to maintain their cashflow and grow their business.
We have funding solutions that can cater specifically to the needs of law firms, solicitors and professional practices with an unsecured business loan from £5,000 to £500,000. Our professions funding options are flexible and can be secured quickly – often within 48 hours.

In addition to providing a valuable cash injection to your practice, our unsecured professional loans for solicitors come with several additional benefits. They offer complete discretion and funds can be paid directly into your bank account. In addition, they do not affect existing security and the lender won’t take charges over personal or business assets.

We have the flexibility to offer tailored repayment solutions; short and long fixed term repayment options can be accommodated, as well as seasonal payments. Our loans can be used for virtually any purpose, from WIP funding to full practice acquisitions.

Apply for a solicitor practice loan

Request a call back

Call our friendly team

Solicitor Finance Options​

Areas where our solicitor finance products may be applied:

How can we help?

We can assist with practice loans for solicitors if you’re a limited company, sole trader or LLP registered and trading in the UK. Solicitors loans can be unsecured loans or secured loans depending on which business funding route you’d prefer to explore.

Unsecured practice finance can be used for tax funding, with many different types of revolving credit facilities, working capital or expansion of your “meet the team”.

Secured practice finance can be used for purchasing an office via a commercial mortgage, bridging loans if you’re looking to develop your current office or another form of construction finance if you have plans to build from scratch.

Here at Smart Funding Solutions, we’ll partner you with your ideal finance provider with the most suitable business funding product.

Enquire now to see how we can assist your practice.

Why choose Smart Funding Solutions?​

Frequently Asked Questions

keep it blank

A Solicitor Practice Loan is a specialised financial product designed for established solicitors, law firms, and legal professionals who need funds to develop or expand their practices.

Qualified solicitors, legal practitioners, law firms, or those planning to start a new practice and who meet the lender’s specific eligibility criteria can apply for a Solicitor Practice Loan.

Upon successful application for a Solicitor Practice Loan, the approved loan amount is disbursed to the borrower. This amount, plus interest, is then repaid over subsequent instalments during an agreed term.

The borrowing amount for a Solicitor Practice Loan usually depends on factors such as your credit score, your firm’s financial health, and the lender’s specific criteria.

Yes, the funds acquired through a Solicitor Practice Loan can be used for a variety of practice-related expenses; including leasing or renovation of office space, purchasing equipment, or even covering operational costs.

Interest rates for Solicitor Practice Loans vary significantly depending on several factors like the loan amount, the loan term, your credit history, and the lender’s policies. It is advisable to compare rates from different lenders to secure the most beneficial deal.

keep it blank

Although requirements may vary among lenders, you typically need to provide a completed application form, your proof of income or financial statements, your professional qualifications, and a detailed business plan.

The approval and funding timeframes can vary between lenders and depend on the completeness of your application, your bank’s procedures, and the lender’s processing times. However, some lenders endeavour to provide funding within a few business days of approval.

Many lenders offer flexible repayment plans for Solicitor Practice Loans, allowing you to match your repayment schedule with the cash flow of your practice.

Each lender has its own policy regarding early repayments. Some lenders may permit penalty-free early repayments whilst others may charge a fee. You should check this with your lender before proceeding with the loan.

Yes, failing to repay any loan, including a Solicitor Practice Loan, can negatively impact your credit score. It may also lead to penalty fees and potential legal action.

If you require capital to grow or stabilise your legal practice, a Solicitor Practice Loan might be an excellent choice. But it’s crucial to assess your financial capacity and to fully understand the terms of the loan before making a commitment.

Call our friendly team - we're happy to help