How much can you borrow through litigation funding?
Litigation funding can be a lower risk option to allow you to fund a claim that might not be possible without it. This is because most litigation funding agreements are set up on a ‘no win, no fee’ basis or take a proportion of the winnings if the claim is won. If you’re funding comes from a third party, they will have to assess your case to determine how likely a win is. This means that how much you can borrow will depend on the strength of your case and the potential earnings that the third party sees in your case.
You can borrow money through litigation funding to cover the costs of all aspects of your claim. Litigation funding can be used to cover the cost of your legal fees, including your solicitor’s fees. Litigation funding can even be used to fund your living costs while you await the trail and while your claim is being processed. So how much can you borrow in the UK through litigation funding?
How much you can borrow depends on the case and on the size your business. Different cases will require different levels of funding.
Small and Medium Businesses
Although SMEs represent over 95% of all businesses in the EU, until recently they have been largely under served in terms of access to litigation funding. Today SMEs have a far greater choice as litigation funders have emerged who place more focus on the SME market, supporting loans typically between £250,000 and £2.5m. However, Kramer Sullivan offers funding as little as £1,000 to support smaller business to fund their claims.
With larger businesses comes larger claims and, as you might expect, larger costs associated with those claims and therefore more litigations funding. For large claims businesses can borrow up to £1 billion to finance your claim. This funding could be used to cover the cost legal and courtroom fees, living expenses and the cost of your solicitors.
If you feel you might have a use for litigation funding and want to find out how much you might be able to borrow the best thing to do is get in contact with a member of our team at Kramer Sullivan. You could receive funding in less than a week to cover the costs of your claim. Call to get a quote on 020 8088 0665, or visit https://kramersullivan.com/ and enter the details of your claim and one of the team will get back to you and let you know what your options are for litigation funding.