Magnolia Legal Funding

Frequently Asked Questions About Magnolia Legal Funding

How do you decide how much to advance?
Once we take a case, we'll work with you to assess it. With your experience and ours combined, we'll be able to estimate a range in which the case will eventually end up. Once we establish an estimated settlement figure, we'll approve the client for some portion of that amount as an advance.

Is there a maximum amount you'll advance?
That depends on the individual case, but we'll typically approve a client for about 10 percent of what we think the ultimate settlement will be.

What if the client needs more?
We know that if an advance is too large, the final settlement may not result in any cash to your client, who may then refuse a reasonable offer and insist you take the case to a jury. That's why we prefer to limit our advances to 10 percent of our best case assessment – enough for your client to live on, but not so much it hampers your ability to settle.

How is the money advanced to the client?
Once we approve the client for an advance, we'll cut an initial check right away. We'll usually deliver funds within 24 hours of approval.

What if the money runs out before the case is settled?
If the initial advance is spent and your client needs more money, we'll make another advance, up to the originally approved amount. We're always willing to look at changing circumstances if they warrant a re-evaluation of the original approved amount.

How long can my client keep the money?
As long as the case is pending. This is not a loan – this is an advance against the final settlement.

How is the advance paid back?
Magnolia gets paid back once the case is settled; the advance, our processing fee, and our return on investment are deducted from the final settlement.

What is your fee?
We will provide your client with a schedule that shows what the final repayment amount (the advance plus our return on investment) will be, depending on how long it takes for the case to resolve. Our return on investment is much more reasonable than what other companies charge.

My client already obtained pre-settlement funding, and it's at an exorbitantly high rate. What can he do now?
We know about those other companies and their absurd rates. Magnolia Legal Funding will pay off another company's advance now, saving your client money. We'll issue a new advance, at our more favorable rate.

What happens if we lose?
If you don't win, your client owes us nothing. Our advances are investments, not loans.

What's the application process?
We keep it simple, and we don't ask you to spend hours copying and faxing us your files. Let us get to know you. Once we do, your best clients can get our approval with a phone call.

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