Company Secures Loans to Assist Gulf Region Businesses

Legal-Bay, The Lawsuit Settlement Funding Company, announced Monday that they have secured a minimum of $10 million in investment capital from institutional investors to assist the Gulf Region with getting needed cash today to get their businesses back up and running. The capital amount is in addition to funds secured in late 2012 specifically "earmarked" for BP Claim funding.

Legal-Bay is an industry leader in legal funding, and is one of the few companies who have been dedicated to funding BP clients from the start of the litigation. However, the BP litigation has had so many "ups and downs" that Legal-Bay at one time had suspended their funding program for lack of interest, when it looked like the $20 billion BP Fund would begin paying claims immediately. However, that has not happened and the litigation has only gotten more confusing. Legal-Bay is now seeing a sharp rise in both personal and business owners who are unhappy that they have not received all of their funds at this point, who are filling out claim funding applications.

"We believe the entire gulf region is in desperate need to get the money flowing back into the economy. The businesses down there were hit very hard first by Katrina, and then British Petroleum's negligence. There has been so much resolve with these businesses to keep going, however they simply have been depleted of operating cash. Many of them expected to have funds in their accounts to get their businesses going again – but that simply hasn't happened. We are proud to offer individuals and business owners waiting for their BP claims a financial solution today that could help jump start their family life and businesses again," announced Chris Janish, CEO of Legal-Bay.

Legal-Bay's Funding program is not a BP lawsuit loan, but rather a non-recourse advance, whereas the funds only need to be paid back if your claim is successful. Legal-Bay charges no upfront application fees and will evaluate the value of your B.P. claim for absolutely nothing. If you are approved, Legal-Bay will provide you a "free quote" of all costs associated with settlement funding prior to ever accepting funds.

"We have been helping so many business owners from Houston, TX to New Orleans, LA, to Biloxi, MS and all the way to Tampa, FL with getting their business going again. We keep hearing the same thing from most of our B.P. client's, and that is they simply can't wait any longer or they are going to lose their businesses for good – all to no fault of their own," said Patty Kirby, Head of Client Relations at Legal-Bay.

If you are a business owner who was severely damaged by the B.P. oil spill and can no longer wait for your funds, you can apply for a B.P. claim loan (as referred to by clients) or B.P. Claim funding by applying online at: or by calling Legal-Bay's toll free hotline at: 877.571.0405 where agents are standing by 24 hours a day to take your calls. For individuals or businesses who have not filed a claim it is not too late to do so, however they should seek legal assistance immediately.


Generated by readers, the comments included herein do not reflect the views and opinions of Rigzone. All comments are subject to editorial review. Off-topic, inappropriate or insulting comments will be removed.