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Invoice finance for law firms

Invoice finance releases most of the value of your unpaid invoices within days of raising them. Law firm partners use Rook Bristol invoice finance to fund disbursements on active matters or spread the cost of a PII renewal, with rolling facility and advances typically within 24 hours of submitting an invoice, once live.

Apply nowAbout invoice finance
Check your eligibilityStep 1 of 5
How much funding do you need?

A best guess is fine. You can change it with your finance manager.

£10K£1M
How long have you been trading?
What's your average monthly turnover?

Total money coming into your business account in a typical month.

What type of business is it?
Where should we reach you?

We'll use this only for your application.

Invoice finance for law firm partners
AmountFacility linked to your sales ledger
TermRolling facility
SpeedAdvances typically within 24 hours of submitting an invoice, once live
PaymentsSettled when your customer pays, less an agreed fee
Best forB2B firms on 30 to 90 day payment terms

Common uses in law firms

  • Fund disbursements on active matters
  • Spread the cost of a PII renewal
  • Hire fee earners or open a new office
  • Acquire another practice or client book
  • Invest in case management systems

Why law firm partners choose invoice finance

Disbursements come before fees

Court fees, counsel's fees, expert reports and search fees are paid out long before matters conclude. Revolving credit keeps them moving.

Work in progress is slow to bill

Litigation and conditional fee matters can run for months or years before a fee is recovered.

Client money stays separate

Client account funds can't be used for office costs under SRA rules, so the firm needs its own working capital.

Tax and PII renewals are lumpy

Professional indemnity insurance renewals and partners' tax bills land as large, predictable sums. Spreading them protects cash flow.

How does invoice finance work?

  1. 1

    Apply and share your aged debtors report. We assess the quality of your customers as much as your own business.

  2. 2

    Choose factoring, where we manage collections for you, or invoice discounting, where you keep control and customers need not know.

  3. 3

    Raise an invoice as normal and upload it. We advance an agreed percentage of its value, usually within 24 hours.

  4. 4

    When your customer pays, you receive the balance, minus a fee agreed at the outset.

What do I need to qualify?

  • 6 months trading
  • £10K+ in monthly turnover
  • A UK-registered business
Check my options

Other funding for law firm partners

Questions, answered

Something else on your mind? Ask the team.

Can law firm partners qualify for invoice finance?
Many can. We typically look for a UK-registered business, 6 months trading and £10K+ in monthly turnover. We review law firms businesses with the sector's cash-flow patterns in mind. All finance is subject to status.
What is invoice finance?
Invoice finance lets you borrow against money your customers owe you. You receive an advance on unpaid invoices, then the balance, less fees, once the customer pays.
What's the difference between factoring and invoice discounting?
With factoring, the finance provider manages your sales ledger and collects payment from your customers. With invoice discounting, you keep running credit control and collections yourself, and the arrangement can be confidential.
Do you lend to SRA-regulated firms?
Yes. We fund solicitors' practices, including sole practitioners, LLPs and ABSs, subject to status.

Want to partner with us?

Businesses, brokers and introducers: check eligibility in about three minutes, or talk to our team about working together.

Apply nowContact our team