Unsecured Finance for Solicitors

What is an unsecured business loan?

An unsecured finance for solicitors business loan is a funding solution which requires no personal or business asset as collateral so your assets are not at risk.

Because these loans are unsecured, a requirement of  the borrower is to show the lender a good credit rating and financial history. As the lender is not securing the loan against any assets they are taking a higher risk in their lending and this may be reflected in a slighter higher interest rate than say a high street bank.

The benefit of taking an unsecured business loan is that it has no impact on your current banking lines so will therefore not inhibit borrowing or credit lines from your own bank.

Why would a solicitor require a loan?

Finance for solicitors is often a necessity, rather than a requirement. Synergy Professions understands the nature of the industry and the occasional need for a little extra capital, which in turn can help assist with the development and continued annual growth when cash flow is tigh

What could a solicitor use an unsecured practice loan for?

  • Tax loan
  • VAT finance
  • Case purchases
  • Work in Progress
  • Disbursements
  • Cashflow improvements
  • Refurbishments
  • Practice Acquisitions
  • Partner buy-in or buy-out
  • Professional Indemnity
  • Practicing Certificates

How can Synergy Professions help?

Our unsecured loans for Solicitors and Barristers mean that you can finance your business’ next big move without putting your financial assets at risk. Our unsecured loans for legal professionals are designed for all areas of the legal sector from sole practitioners to large multi-partner firms.

Want to find out more? Just click here or call our experts on 0333 242 2900.