The Law Society has appointed Syscap, an established and leading independent financial solutions provider, as their exclusively endorsed provider for a range of financial services to its members.
Products offered by Syscap to the legal sector include funding for: VAT, tax, practising certificates and other regulatory fees, case acquisition, partner buy-ins and buy-outs and investment in IT hardware, software and related services.
Philip White, Chief Executive of Syscap, says: “We have built up an excellent reputation in the legal sector over the years and this endorsement from the Law Society recognises the quality of our offering and our ability to tailor our products to the needs of legal practices. We look forward to working closely with the Law Society and hope to be able to extend the breadth of our solutions to law firms of all sizes.”
Neil Skinner, Business Development Manager at The Law Society, comments: “At the Law Society, we believe it is vital that we support our members in any way we can, this includes recommending suppliers of key services. Many of our members have told us that they have in recent times struggled to access the funding they need to meet short term spikes in their cost base, so we’re delighted to partner with Syscap as our exclusively endorsed provider for a range of financial services.”
“We chose to endorse Syscap as we believe the company offers a wide and varied range of tailored finance solutions designed to help our members meet challenges to their cash flow, particularly in this harsh economic climate.”
Syscap says that it has grown into its position as one of the largest non-bank providers of finance to the legal sector because of its understanding of the unique funding requirements of law firms and the regulatory environment that they work within.
Syscap explains that the current reluctance of banks to lend to law firms has seen many firms struggling to find short term funding to pay for tax, insurance and make capital investments.
Philip White continues: “Since the recession, an increasing number of law firms have decided that best value and most secure funding is to be found outside of the traditional Big Five banks. Law firms are finding that banks will either no longer lend to them or require very large arrangement fees or charge uneconomic interest rates even for small loans.”
“Many well managed law firms are also finding their cash flow is being squeezed by clients, who are taking longer to pay bills in order to improve their own cash position. This is creating a lot of demand in the legal sector for short term financing.”
“As a specialist finance provider we understand the constraints faced by law firms and we are able to take a flexible approach to providing law firms with the funds to grow their practices.”
About Syscap Ltd:
As one of the UK’s leading independent finance providers, Syscap provides tailored finance solutions and advice to help professional services organisations acquire the funding they need, when they need it. Visit www.syscap.com for further information
Business Services Manager
Tel: 020 8254 1865
Nick Mattison or Stacy Hyde
Mattison Public Relations
Tel: 020 7645 3636
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