It is almost that time of year again when Solicitors’ need to renew their professional indemnity insurance (PII) cover.
Solicitor professional indemnity insurance is one of the major overheads for law firms and at around 2-5% of turnover (depending on the usual risk factors), it can cause a huge cashflow burden for firms.
“This is of course, a necessary purchase for solicitors, but the challenge is how solicitors can finance this in a way that doesn’t put a strain on the business”, said Nathan Gibb at The Funding Store.
Solicitor PII business loans
“We have lenders ready to offer finance with this in mind and already helping many firms of solicitors across the country. With your finance structured over 12 months or longer, the repayments can be smoothed into manageable payments across the year”, added Nathan.
Finance for solicitor professional indemnity insurance
The Funding Store can secure a competitive solution for solicitor firms. You can find out more about how we help with finance for solicitors here or by contacting our team to discuss your requirements.
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This article has been produced by The Funding Store for general interest. No responsibility for loss occasioned to any person acting or refraining from action as a result of the information contained in this article is accepted by The Funding Store (MK) Limited. In all cases appropriate professional advice should be sought before making a decision.