Lawbite
12 February 2020
Lawbite is an innovative online company revolutionising legal services by providing ‘Simple Law for Small Companies’.
We found legal services firm Lawbite flexible business finance for growth
Through years of experience working as a leading barrister and professional negotiator, founder Clive Rich was inspired to offer a legal service to small businesses that was more affordable, understandable, and accessible – providing documents, a suite of software tools for editing and sharing, and a virtual law firm wrapped around its platform.
The traditional approach can be excluding for many small businesses, and like us, Clive wanted to help more SMEs survive and grow.
Financing growth
A successful crowdfunding campaign raised the money necessary to start the company back in the Spring of 2013. Fast-forward to Autumn 2014 though, and Lawbite were looking for finance for marketing, to further accelerate their growth.
On the recommendation of one of our partners, Advantage Business Partnerships — a leading business growth coaching organisation — Lawbite came to Funding Options for help.
Flexible funding
Lawbite decided they wanted a drawdown facility, which would allow them to have funds in place when they needed, without being tied into the full amount — similar to a traditional bank overdraft.
Working capital finance can be hard to come by with traditional lenders, even for a fast-growth company like Lawbite, but luckily there’s a range of options amongst alternative providers.
A unique solution for a unique business
We found two lenders who were willing to fund Lawbite’s growth, finding the best match for the business from the dozens of alternative finance providers we work with. Lawbite is doing well, and continues to lead the charge in accessible legal services for small businesses.
Clive and his team are satisfied customers too — since the first enquiry, we’ve secured a second funding facility for Lawbite, so finding the right lender is no longer a barrier to growth.
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