Business loans for law firms

• Cash flow challenge: Law firms often face uneven cash flow due to delayed client billing, rising insurance costs, and high operational overheads.

   

• Perfect for: Solicitors, barristers, and legal practices looking to fund professional indemnity insurance, VAT payments, payroll, or investment in staff and technology.

Novuna helps law firms access fast, flexible business loans designed for the legal profession whether you’re managing seasonal cash flow, expanding your practice, or covering essential overheads like PII and VAT. Speak to our experts today to help you find a great fit for your situation. 

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How business loans work for law firms

A business loan provides quick, accessible funding to support your firm’s cash flow or growth plans.

Here’s how it works:

1. Choose the amount and repayment term that best fits your firm’s needs.
   
   

2. Once approved, Novuna transfers funds directly to your business account.
   
   

3. Repay in predictable monthly instalments that match your billing cycle.

This allows your practice to plan ahead, meet financial obligations, and invest in opportunities without interrupting day-to-day operations.

Why law firms use business loans

Law firms use business loans to maintain stability, cover short-term costs, and invest in long-term growth.

Common use cases include:

• Covering PII and VAT payments: Spread the cost of major outgoings.
• Technology investment: Fund new case management systems or cybersecurity upgrades.
• Recruitment and payroll: Manage payroll and partner drawings during quieter months.
• Cash flow stability: Smooth income gaps between billing cycles.
• Office expansion: Open new locations or refurbish your existing practice.

By securing funding quickly, firms can stay competitive and agile in a demanding legal market.

Benefits of business loans for legal practices

• Fast access to funds: Get approval and payment within days.
• No collateral required: Most loans are unsecured.
• Predictable monthly costs: Fixed repayments make budgeting straightforward.
• Flexible terms: Borrow between £10,000 and £1 million.
• Tailored facilities: Designed specifically for professional firms.

Alternative funding options for law firms

If a traditional business loan isn’t the right fit, Novuna offers additional finance options that support legal firms at every stage of growth.

Many businesses use a combination of both for example:

• Invoice finance: Release cash tied up in client invoices to maintain consistent cash flow.
• Working capital loans: Fund day-to-day operations like payroll, utilities, and rent.
• Asset finance: Invest in IT systems, vehicles, or office equipment without upfront costs.
• Supply chain finance: Support your supplier payments and improve cash flow efficiency.

Many law firms combine these solutions with a business loan for a complete, flexible funding strategy.

Boost your cash flow Speak to an expert

How Novuna Business Cash Flow can help

At Novuna, we understand the pressures facing the legal sector, from unpredictable billing cycles to complex compliance costs.

Speak to our experts today and get a great fit for your situation.