Law Firm Banking Services
Whether you run a solo legal practice or serve as a managing partner at a law firm, your role requires extensive legal expertise and a strong work ethic, often involving long hours. Additionally, managing a law firm goes beyond just providing legal services; it requires a solid understanding of business operations, particularly in finance.
This includes managing both incoming funds (e.g., client fees and settlement awards) and outgoing funds (e.g., salaries for you and your staff and operational expenses). You will also need to maintain your firm's cash flow and pursue growth opportunities. For these reasons, having a reliable banking partner like Ameris Bank is essential for your firm.
Every law firm, like any other business, requires a secure place to save and manage its money. However, as you know, state bar regulations require law firms to maintain separate deposit accounts for client funds. This separation helps avoid commingling, which is a serious ethical violation.
Ameris Bank offers a complete range of deposit accounts for law firms, including business checking, savings and IOLTA accounts. Additionally, we offer business certificates of deposit (CDs) and business money market accounts.
Effective treasury management is crucial to your law firm's financial well-being and operational efficiency. It involves various processes and strategies to streamline payables and receivables, improve cash flow management, and protect both your clients' funds and your firm's assets from fraud.
Ameris Bank offers a suite of treasury management services. These include Automated Clearing House (ACH) payments, Ameris Bank Lockbox, online wire transfers, commercial business cards, payroll services and fraud prevention tools such as Positive Pay and Debit Block.
Your law firm might need an influx of growth capital for a variety of reasons. This could involve hiring more attorneys and support staff, investing in marketing to acquire more cases, bringing in a new partner or acquiring another law firm. You might also require growth capital to expand your offices, purchase new technology and acquire furniture, fixtures and equipment (FF&E).
Whatever the reason(s), Ameris Bank can structure the most appropriate commercial lending solution for your firm. Our commercial lending solutions include term loans, working capital loans, acquisition loans and business lines of credit.*
Ameris Bank also offers SBA 7(a) and 504/CDC loans** and is part of the SBA’s Preferred Lender Program (PLP). Our PLP status gives us greater authority to service most aspects of SBA-guaranteed loans in-house, rather than sending them to the SBA for approval. This can help expedite the process and result in quicker funding turnaround times.
Selecting a bank with experience in the law firm sector offers significant advantages, just as choosing a skilled lawyer benefits your clients. Ameris Bank has the industry expertise that can inspire trust. We understand the unique financial requirements of law firms, including the management of client funds and trust accounts, as well as the financial aspects of acquiring another firm or funding a partner buyout.
At Ameris Bank, you will work directly with a dedicated business banker who will take the time to learn about your law firm and its immediate and long-term goals. Your banker will provide you with personalized service and strategic insights at every step.
No matter what your law firm's banking needs are—be it deposit accounts, managing your finances and clients' trust accounts or acquiring funding for growth opportunities—Ameris Bank is here to help. Our comprehensive services let you consolidate all your law firm's banking activities in one place, saving time and reducing the hassle of dealing with multiple financial institutions. Contact us today to speak to a commercial banker.
The opinions voiced in this material are for general information only and are not intended to provide specific advice or recommendations for any individual. Ameris Bank does not endorse nor is affiliated with the companies listed in this article.
* All loans subject to credit approval.
** Ameris Bank is a full-service financial institution providing SBA loans nationwide. We have a variety of convenient locations in Alabama, Florida, Georgia, North Carolina and South Carolina. Contact us to learn more about our small business lending products.
This includes managing both incoming funds (e.g., client fees and settlement awards) and outgoing funds (e.g., salaries for you and your staff and operational expenses). You will also need to maintain your firm's cash flow and pursue growth opportunities. For these reasons, having a reliable banking partner like Ameris Bank is essential for your firm.
Deposit Solutions
Every law firm, like any other business, requires a secure place to save and manage its money. However, as you know, state bar regulations require law firms to maintain separate deposit accounts for client funds. This separation helps avoid commingling, which is a serious ethical violation. Ameris Bank offers a complete range of deposit accounts for law firms, including business checking, savings and IOLTA accounts. Additionally, we offer business certificates of deposit (CDs) and business money market accounts.
Treasury Management
Effective treasury management is crucial to your law firm's financial well-being and operational efficiency. It involves various processes and strategies to streamline payables and receivables, improve cash flow management, and protect both your clients' funds and your firm's assets from fraud. Ameris Bank offers a suite of treasury management services. These include Automated Clearing House (ACH) payments, Ameris Bank Lockbox, online wire transfers, commercial business cards, payroll services and fraud prevention tools such as Positive Pay and Debit Block.
Commercial Lending
Your law firm might need an influx of growth capital for a variety of reasons. This could involve hiring more attorneys and support staff, investing in marketing to acquire more cases, bringing in a new partner or acquiring another law firm. You might also require growth capital to expand your offices, purchase new technology and acquire furniture, fixtures and equipment (FF&E). Whatever the reason(s), Ameris Bank can structure the most appropriate commercial lending solution for your firm. Our commercial lending solutions include term loans, working capital loans, acquisition loans and business lines of credit.*
Ameris Bank also offers SBA 7(a) and 504/CDC loans** and is part of the SBA’s Preferred Lender Program (PLP). Our PLP status gives us greater authority to service most aspects of SBA-guaranteed loans in-house, rather than sending them to the SBA for approval. This can help expedite the process and result in quicker funding turnaround times.
Selecting a bank with experience in the law firm sector offers significant advantages, just as choosing a skilled lawyer benefits your clients. Ameris Bank has the industry expertise that can inspire trust. We understand the unique financial requirements of law firms, including the management of client funds and trust accounts, as well as the financial aspects of acquiring another firm or funding a partner buyout.
At Ameris Bank, you will work directly with a dedicated business banker who will take the time to learn about your law firm and its immediate and long-term goals. Your banker will provide you with personalized service and strategic insights at every step.
No matter what your law firm's banking needs are—be it deposit accounts, managing your finances and clients' trust accounts or acquiring funding for growth opportunities—Ameris Bank is here to help. Our comprehensive services let you consolidate all your law firm's banking activities in one place, saving time and reducing the hassle of dealing with multiple financial institutions. Contact us today to speak to a commercial banker.
The opinions voiced in this material are for general information only and are not intended to provide specific advice or recommendations for any individual. Ameris Bank does not endorse nor is affiliated with the companies listed in this article.
* All loans subject to credit approval.
** Ameris Bank is a full-service financial institution providing SBA loans nationwide. We have a variety of convenient locations in Alabama, Florida, Georgia, North Carolina and South Carolina. Contact us to learn more about our small business lending products.