Work in Progress (WIP) Funding

Law firms, particularly those with a Personal Injury practice, carry files and associated professional fees through Work in Progress (WIP) for prolonged periods. Even when a matter has settled, the actual receipt of fee revenue can be delayed for up to 12 weeks, placing additional pressure on cash flow.

Financing for Working Capital

WIP loans can be used by firms to bridge the gap when a substantial win has been achieved, but where the attached revenue is still pending and overheads still need to be maintained.

Funding business growth

Unlock trapped cash and invest in sustainable growth. Providior funds disbursements.

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How Does WIP Funding Work?

WIP loans can grant businesses access to the value of invoices that they have issued to clients but not yet been paid due to the pending release of settlement funds from personal injury matters.

With an ongoing WIP facility agreement in place, a firm can submit a settlement deed to Providior as proof of pending income and Providior will advance a percentage of that amount to the firm as working capital.

When the fee revenue is realised, the loan is repaid.

A rate of simple interest is calculated on a daily basis and applied to the final amount at time of repayment.

Why Choose Providior?

  • Our application process is streamlined and takes into account the irregular nature of PI firms’ revenue.
  • We do not limit your choice of supplier/vendor or specialist.
  • We offer a seamless experience for submission and same-day payment of vendor invoices and a real-time dashboard to be able to see your funded matters at any time.
  • Providior is a privately held firm, founded by those with a deep understanding of PI law firms.
  • We are a lean team of skilled professionals, focused on building and maintaining close relationships with our clients to be able to support them through the ups and downs of business.
  • Providior is adept at coordinating with banks and other financiers to ensure that the presence of our specialist financing tools can co-exist with other forms of financing that a business requires.

Part of the Providior Suite

WIP Facilities are available to law firm clients of Providior who have a Disbursement Funding facility in place. 

The WIP Agreement is typically implemented at the same time as the Disbursement Facility Agreement, but can remain inactive until such a time as it may be required. 

WIP advances are extended to clients with a proven track record in case selection, file velocity and ability to settle matters successfully. 

WIP funding is a short term solution that enables Providior’s clients to continue to take on new matters by maintaining capacity in the business between one big win and the next. 

Contact us today to find out how we can help your team.

Ready to Talk?

We’re just a phone call or email away and would love to hear from you. Contact us today to discuss your business and funding needs.

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