The Benefits of Litigation Funding
Why Work with Virage?
Established in 2013, Virage Capital Management LP provides litigation funding for borrowers located throughout the United States. Virage employs a streamlined approach with a relatively fast turnaround and target closing of three weeks or less, following the receipt of all due diligence items from potential borrowers.
For attorneys and law firms that offer contingency fee based legal services, such as class action/mass tort and personal injury representation, litigation funding offers a number of advantages. Attorneys have several avenues to pursue when it comes to obtaining this funding; they may work with traditional lenders, like banks, or engage in joint ventures with other law firms. They may also seek alternative funding methods and work with non-traditional groups.
There are numerous benefits of litigation funding, including:
- Immediately obtain necessary capital to pursue litigation
- Free up resources to divert to other, income-generating areas
- Improve opportunity to secure recoveries in line with case merits
- Offer flexible payment options for actual and prospective borrowers
- Cover the cost of all litigation-related expenses
- Enhance ability to accept viable plaintiff claims
In short, litigation funding allows attorneys and law firms to provide enhanced services to their clients, as well as accept a higher volume of cases.
Virage offers a number of benefits to borrowers who choose this litigation funding option. Some of these benefits include:
- A simple, straightforward loan funding process of typically only three weeks or less
- Automatic wire withdrawal payments
- Loans available in amounts starting from $250,000 and up to amounts in the multi-millions
- Fast deployment of capital funds directly to borrowers’ accounts upon approval
- Greater attorney independence — borrowers do not need to work with other attorneys or find their own investors
In addition, Virage funds loans for a wide range of contingency fee based legal services and also works with “hybrid” firms that provide contingency fees on an hourly billable basis.
Virage is proud to have become an expert in its space. Virage understands the unique needs of contingency fee attorneys and law firms better than traditional lenders, and it works to create long-term relationships with its borrowers in order to improve their opportunities for success.