Vikki Smith
Vallejo, CA (USA)
Role(s):
Founder/Owner/Principal
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Startup
Location:
Vallejo
Industry:
Finance
Year Founded:
2014
Number Employees:
1-10 people
Business Stage:
Creation/Idea
Entity Type:
Not Incorporated
Description:
The personal injury lawsuit arena is growing by leaps and bounds; however, this process often goes through many arduous stages prior to an actual settlement for the claimant. In my situation, the law firm does not participate in any pre or post lawsuit settlement contracts for the clients. As a result of this practice, the benefits of obtaining funding is not availed. My idea is to provide loans ranging from $1,000 to $5,000 to claimants who have received a letter confirming that the case has been settled and are awaiting payout. The interest rate would be fixed at a term which does not exceed the allowable rate of the respective state. Also, there would be a membership fee which would ensure that the fixed term of interest and this fee would equal 20% of the loan. The client receiving the loan would also become an honorary "member" in the company.