Dallas mass tort firm secures $8mm financing facility with Counsel Financial
[
196%
increase in firm’s available working capital
$1.92mm
savings in interest
compared to market rates for similar private credit facilities contemplated by firm
The Challenge
Unmet capital needs amidst existing bank debt
Counsel Financial was approached by a Dallas-based mass tort and class action firm facing $2.7mm in bank debt. The debt was collateralized by $30mm+ in anticipated attorney's fees across their portfolio. The firm was dissatisfied with their current bank lender’s inability to meet their capital requirements.
The Solution
Blended financing facility to extend runway
Counsel Financial collaborated with a preeminent bank to structure a blended financing solution, combining $3mm in bank debt with a $5mm line of credit from Counsel Financial. This approach allowed the firm to retain favorable bank debt rates while benefiting from the advantageous blended interest rate of the private credit facility and the bank line of credit.
“The new facility has given us the flexibility and financial breathing room we needed. Counsel Financial’s tailored approach truly met our needs.”
Matt Haynie
The Outcome
Enhanced financial stability and flexibility
The firm now enjoys a more manageable debt structure and increased operational flexibility.
“With the support from Counsel Financial, we’ve gained significant runway and can now focus on our case portfolio with greater confidence.”
Jay Forester
At a glance
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Firm LocationDallas, TX
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Firm SizeLarge
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Year established2017
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Practice areaMass Tort and Class Action
