Chicago, IL (PressExposure) June 29, 2006 -- The Funding Exchange announces an expansion of the its service to allow plaintiffs to directly access its network of lawsuit funding companies with one application through The Funding Exchange's litigation funding portal.
Lawsuit funding (often referred to as a lawsuit loan, lawsuit loans, pre-settlement funding, pre-settlement cash advance, litigation funding, litigation financing, lawsuit financing, or lawsuit cash advances) involves advancing cash to a plaintiff based on the likelihood of the plaintiff winning his/her lawsuit. Not technically considered "loans", these cash advances can provide critical support to a plaintiff while they wait for their case to reach a verdict. Historically, the entire process often takes weeks or even months to get approval for funding. By the time a plaintiff finally receives his/her cash advance, it may be too late.
The Funding Exchangeâ¢ is your online market for litigation funding. The Funding Exchange was created to streamline the entire process of funding litigation cash advances. Originally, The Funding Exchange only allowed litigation brokers to submit funding requests through the online marketplace. The Funding Exchange has now expanded to allow plaintiffs to submit applications which are automatically routed to the most appropriate litigation funding sources. The Funding Exchange has eliminated the need for a plaintiff to complete multiple lawsuit funding applications. A plaintiff completes one application which is routed to an entire network of lawsuit funding sources.
The Funding Exchange analyzes each application and instantly routes them electronically to the right lawsuit funding sources. These funding sources instantly receive, review, and approve the funding requests through The Funding Exchange. Plaintiffs can check the status of their application online giving them up-to-the-minute status information. The Funding Exchange drastically reduces the time needed to find funding by streamlining every step in the process and, best of all, it is completely free of charge for plaintiffs.
"We are excited to have expanded our platform to allow plaintiffs to apply for lawsuit funding free of charge," says Tony Perkins, founder and President of The Funding Exchange. "No longer will a plaintiff need to complete multiple applications in order to reach the right lawsuit funding sources. No longer will time be wasted because a litigation funding application was sent to the wrong funding company. No longer will a plaintiff have to wait on hold to get a status on their application. The Funding Exchange is the fastest, easiest, and most accurate way for a plaintiff to secure lawsuit funding."