Updated on 5/24/2022
This article helps plaintiffs and attorneys alike learn more about lawsuit loans and alternatives in Florida. Below you will find the following information:
Lawsuit loan companies serving Florida
Below you will find a list of companies that provide funding in Florida. We highlight lawsuit loan companies we recommend, as well as local and regional funding companies where applicable.
Recommended lawsuit loan companies funding Florida residents
We recommend the following companies for plaintiffs residing in Florida.
Our pick for low rate lawsuit loans
USClaims offers some of the lowest, non-compounding rates in the industry. Many companies claim to offer “the lowest rates in the industry” – we recommend comparing them against an offer from USClaims to see for yourself.
Highly rated on Google
High Rise Financial is a California-based lawsuit loan company. They have the most five-star reviews of any funding company in the industry. In addition to pre-settlement funding, High Rise provides medical care scheduling and financing services.
Our pick for fast lawsuit settlement loans
Thrivest Link Legal Funding offers reasonable funding terms often with simple, non-compounding rates. Their expert underwriting allows them to fund larger sums than many of their competitors. They frequently approve claims for funding within 24 hours.
Highly rated by consumers
Capital Now Funding is a Kentucky-based settlement advance company founded in 2015. They claim to offer a 45% fixed fee model with no interest. This could be advantageous for claimants expecting a lengthy legal claim.
Lawsuit loan companies located in Florida
- Baric Enterprises – Florida-based Baric Enterprises, Inc. provides non-recourse personal injury loans as well as several kinds of insurance and retirement planning services.
- Citrus Legal Funding – Orlando, Florida-based Citrus Legal Funding has excellent customer reviews on the BBB and Google. Like most other pre-settlement lawsuit loan companies, they offer non-recourse advances for plaintiffs pursuing negligence claims.
- Client Legal Funding – Florida-based Client Legal Funding was founded in 2011. They offer pre-settlement funding, post-settlement funding, medical funding, and attorney funding services.
- Liberty Settlement Funding – Liberty Settlement Funding is a Florida-based lawsuit settlement funding company serving plaintiffs nationwide.
- Momentum Funding – Headquartered in Florida, Momentum Funding focuses on personal injury and workers’ compensation lawsuit advances.
- Signal Funding – Florida-based Signal Funding claims to provide $500 to $500,000 in pre-settlement funding with same-day service. They provide funding to injured plaintiffs nationwide. Signal Funding has solid reviews on Google but a less impressive reputation on Yelp.
- USClaims – USClaims offers some of the lowest, non-compounding rates in the industry. Many companies claim to offer “the lowest rates in the industry” – we recommend comparing them against an offer from USClaims to see for yourself.
Regional pre-settlement funding companies that serve Florida residents
- Ally Lawsuit Loans – Ally Lawsuit Loans is affiliated with or closely related to Nova Legal Funding. They claim to be located in Houston, Texas.
- Capital Now Funding – Capital Now Funding is a Kentucky-based settlement advance company founded in 2015. In most states, they offer pre-settlement funding with a 45% fixed-fee model. This could be advantageous for claimants expecting a lengthy legal claim.
- Cherokee Funding – Georgia-based Cherokee Funding provides pre-settlement and post-settlement plaintiff and attorney funding. They claim to fund almost all types of legal cases, so long as there is solid liability, damages, and a defendant with the ability to pay.
- Glofin Funding – Founded in 2002, Glofin Funding is one of the longest-standing providers of personal injury funding in the United States. They serve plaintiffs nationwide with a few exceptions.
- The Legal Funding Group – Based in Savannah, Georgia, The Legal Funding Group provides lawsuit cash advances nationwide. On their website, they quote a rate of 36% every six months.
Other pre-settlement lawsuit loan companies serving Florida residents
- 5 Star Legal Funding – 5 Star Legal Funding is based in New York and was founded in 2006. They advertise simple, non-compounding rates and capped repayment terms.
- Baker Street Funding – Baker Street Funding is a relatively new personal injury case funding company based in New York. Despite the company’s age, they are growing very quickly. They claim to provide rates between 1.5% and 3.4%, compounding monthly.
- Bridgeway Legal Funding – Bridgeway Legal Funding offers reasonable rates and fast processing of workers’ compensation lawsuit loans. Workers’ compensation funding is typically only available in states in which an attorney controls the settlement proceeds.
- Case Cash Funding – Case Cash Funding is a New York lawsuit lending company that claims to provide advances at 2.99%, compounded monthly with a $100 processing fee and a delivery fee ranging from $0 to $99.
- Golden Pear Funding – Golden Pear Funding is one of the largest lawsuit funding companies in the US. They are primarily focused on funding plaintiffs residing in New York. Since 2008, they have extended more than $600 million in funding.
- LawStreet Capital – LawStreet Capital is a nationwide provider of pre-settlement lawsuit loans. They also provide funding to attorneys and purchase structured settlements.
- Legal-Bay Lawsuit Funding – Legal-Bay Lawsuit Funding is a direct funder and broker that provides advances nationwide. To date, they claim to have advanced more than $75 million to applicants.
- Mustang Litigation Funding – Mustang Litigation Funding is a relatively new but quickly growing lawsuit funding company based in Minnesota. They have provided more than $50 million in funds to plaintiffs and attorneys since 2018.
- National Lawsuit Funding – National Lawsuit Funding is a funding provider based in Pennsylvania.
- Necessity Funding – Necessity Funding’s claims of two-hour funding puts them among the fastest legal advance companies in the US. Their “No Doc” advances may make them a good pick if you have a relatively new case.
- Nova Legal Funding – Nova Legal Funding is a direct funder and broker of lawsuit loans based in Los Angeles. They claim to have provided more than $25 million of pre-settlement funding to plaintiffs.
- Oasis Financial – Oasis Financial is one of the largest pre-settlement lawsuit loan companies in the United States. Oasis Financial has provided funding to more than 250,000 plaintiffs since 2003.
- Pegasus Legal Capital – Pegasus Legal Capital provides non-recourse lawsuit settlement funding to plaintiffs nationwide. They claim to provide approvals within four to six hours from receiving documentation from your law office.
- Preferred Capital Funding – Preferred Capital Funding claims to be the first pre-settlement funding provider in the US. They receive most of their business directly from referring attorneys.
- Prime Case Funding – Prime Case Funding is a legal funding provider located in New York. They have exceptional online reviews and quote a rate of 2.75% compounded monthly on their website.
- Triumph Legal Funding – New Jersey’s Triumph Legal Funding offers competitive rates and fast, friendly service. Triumph favors rolling contracts with pre-approved monthly funding amounts to help clients budget and offer peace of mind throughout the course of their lawsuit.
Lawsuit funding laws, regulation, and relevant ethics opinions in Florida
Florida has a pending bill that seeks to regulate lawsuit loans in the state. The bill would allow the Florida Department of State to regulate the industry. Florida case law has upheld lawsuit lending agreements where the lender did not interfere with or direct the litigation. The Florida Bar allows lawyers to honor a client’s assignment of proceeds from their case to a lawsuit cash advance company but disallows lawyers from issuing a letter of protection to the company. Most legal funding companies provide their services to Florida residents and many use an alternate acknowledgment letter that complies with Florida Bar’s position on lawsuit loans.
Laws regarding lawsuit loans in Florida
See FL SB 7041 (2021). The Florida house proposed to “require litigation financiers to register with DOS & file surety bond; provides requirements & rulemaking authority for DOS; provides requirements for litigation financing contracts; provides for assignment of contingent rights to civil action or claim proceeds; specifies the priority of liens; authorizes litigation financiers to assess specified interest, fees, & charges; provides that violations are deceptive & unfair trade practices.” The bill died in the house.
Source: FL SB 1750 – Litigation Financing Consumer Protection
Legal funding case law in Florida
In Kraft v. Mason the appellate court affirmed the stance that the agreement between Kraft (borrower) and Mason (lender) was not champertous. The court indicated that Mason had not interfered with nor stirred up litigation.
Source: Kraft v. Mason
Can a lawyer lend money to a client in Florida?
A Florida attorney cannot grant plaintiffs financial assistance. However, they can advance litigation expenses. Advanced expenses are only repaid if the case is successful.
Source: Florida Bar Ethics Opinion 96-1
Can attorneys help clients receive lawsuit loans in Florida?
Attorneys may give clients information about non-recourse funding companies to meet their financial needs.
Source: Florida Bar Ethics Opinion 00-3
Lawsuit loan alternatives in Florida
Lawsuit loans are expensive. Plaintiffs in Florida should exhaust all other options before seeking legal funding. Check out the local resources below for some ideas:
- Temporary Cash Assistance – is available to families with children under 18 (or 19 if enrolled in high school full-time) that meet income requirements. Participation is limited to 48 months as an adult. You may be required to enroll in a work program or complete qualifying work activities.
- Section 8 and Subsidized Housing in Florida – includes options for low-cost public housing as well as how to apply for a housing voucher to assist with paying your rent.
- Florida Food Banks – Feeding Florida – visit this website to find a list of food banks and locate one that services your area. You may need to verify your residency to participate in this program.
- Help Paying For Utilities in Florida – if you need assistance to help pay for home heating and cooling, LIHEAP can help. You will need to provide proof of income and residency to determine eligibility.