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RapidFunds® was co-founded in 2004 by attorney Peter J. Speziale, as a solution to the cash flow problems contingent fee attorneys face. Running a law firm takes a lot of capital. Traditional lending institutions are generally not comfortable lending on contingent fee cases, and typically not to the extent necessary to resolve cash flow problems. Unlike these institutions, we fully understand the value of the assets contained in your inventory of cases.
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As former litigators, we understand your challenges and want to help your firm succeed.
Attorney owned and operated. Our executives and staff are, in part, attorneys who worked as litigators and handled a wide variety of contingent fee cases. All of the key people with whom you’ll interact with at RapidFunds® are experienced attorneys. As sole practitioners and as members of big and small law firms, our team maintained independent practices, funded litigations, conducted trials, made payrolls, and, like many of you, waited long periods of time to collect contingent legal fees.
Personal service. We pride ourselves in building close relationships with our clients. The attorneys we work with become close colleagues and we quickly learn their firm’s needs. Once you become a client, we can provide fast turnaround (often same day) and make the funding process quick and easy.
Our post-settlement funding is not a loan. We acquire assets—in this case, an interest in your anticipated legal fee on a settled case. You act as our escrow agent and fiduciary and transfer the portion of your fee that we purchased when your fee is finally received. These transactions are non-recourse—so if the underlying payer (insurance company, private company or government agency, for example) fails to ultimately pay or becomes insolvent, you no longer have an obligation to us.
We work with you through the entire funding process. We handle everything from intake through making a funding decision and providing the funds. We are NOT a broker or hedge fund. We do not take an application and agree to fund and then look for a source of funds. Rather, we have direct and immediate access to substantial committed capital sitting in our bank account. We are also more than just underwriters—we are lawyers who understand how your practice works so we can quickly evaluate your cases and come to a fast decision without depleting your time.
We work with firms of all types and sizes. Our clients range from firms that specialize in class actions and settle a few large cases per year, to lawyers who handle low severity but high volume matters that settle monthly.
Years in Business
With membership of approximately 4,600 trial lawyers, New York State Trial Lawyers (NYSTLA) is a leading state trial lawyer association in the United States. Their mission is “to promote a safer and healthier society, to assure access to the civil justice system by those who are wrongfully injured and to advance representation of the public by ethical, well-trained lawyers.”
NYSTLA was created in 1953 by 20 trial lawyers, who were concerned that New York had no forum for plaintiffs’ lawyers. They joined together to form the New York Association of Plaintiff’s Trial Lawyers, which later changed into New York State Trial Lawyers Association.
NYSTLA works with coalition partners on numerous issues to protect the rights of consumers, health advocates, tenants’ groups, senior citizens groups, anti-gun violence groups, and many other public interest organizations. NYSTLA’s business is to assure that the wrongfully injured will have full access to the civil justice system. The organization is thus dedicated to the preservation of the federal and state constitutional rights to trial by jury.
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