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5 Lease and Finance Options To Help Conserve — or Even Create — Capital
Law firms are rising to the challenges laid upon them and responding to swiftly maintain business continuity by shifting operations to remote working, and procuring the technology and equipment that's required to put it all together and provide uninterrupted legal services to their clients. It is an enormous undertaking and will continue to have ebbs and waves of deployment, learning new systems, and responding to new information as workflow and client needs become clearer.
Since we don't have 100% clarity on what that process will look like, law firms need financial flexibility as they implement new technology and equipment, while being required to conserve capital and increase cash on hand for currently unidentified projects. These realities align with the benefits of leasing and financing — and this is exactly what we are helping our law firm clients with right now, regardless of size, geographic presence, or practice specialty.
Below are just five options available that leasing and financing can help law firms not only to deploy their business continuity requirements in the short term, but also improving liquidity now and better position the firm for their future.
1. Leverage Leasing and Financing to Improve Liquidity
Whether in times of prosperity or in times of crisis, liquidity matters. Liquidity enables law firms to invest in long-term opportunities such as acquisition of competition, real estate purchases, new employee expansion, as well as catastrophic survival.
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