Counsel Financial, a provider of working capital and growth capital lending for plaintiffs’ attorneys in the U.S., expanded its footprint in Louisiana.

The company, which provides lines of credit and other financial products aimed at helping plaintiffs’ attorneys grow and solve financial challenges, recently closed three new facilities for attorneys in Baton Rouge and New Orleans. The company is making a strategic effort to grow its network in the state.

“Louisiana is an important market for us and we are committed to supporting the ecosystem for plaintiffs’ attorneys here,” said Paul Cody, the company’s president. “The combination of outstanding lawyers and firms with an appetite for growth makes it an ideal place for us to make an impact.”

Counsel Financial fills a gap in financing for growing personal injury, class action, mass tort and labor and employment firms. Because law firms cannot sell equity to raise funds like other businesses, firms must typically borrow to fuel growth. Plaintiffs’ attorneys are uniquely challenged in that they must advance expenses on behalf of their clients well before a case resolves and most traditional banks fail to provide adequate lending solutions, frequently resulting in a cash crunch that halts growth. Counsel Financial, a company founded by plaintiffs’ lawyers, understands this problem and provides flexible lending solutions to help such firms.

Recently, Counsel Financial provided a credit facility for the Olinde Firm, a mass tort and personal injury firm in New Orleans.

“Counsel Financial is a must for law firms seeking rapid and substantial growth. Traditional lenders were simply unwilling and unable to recognize as collateral the most valuable jewels of our practice, which are our contingent receivables,” said Fred Olinde, founder of the Olinde Firm. “We have been with Counsel Financial for six months and with borrowed capital from them, we have put forth an aggressive marketing plan, vastly grown our receivables, added employees and opened a new office.”

Similarly, Counsel Financial provided a credit facility for the Whitehead Law Firm, a firm with a broad practice but a growing concentration in federal labor, wage and hour litigation.