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Starting a Law Practice: Financing

Introduction

Starting a new firm requires money.  In his classic book How to Start and Build a Law Practice, Jay Foonberg recommends ensuring you have sufficient funds to cover living expenses for one year, as well as money for business costs, such as malpractice insurance and office equipment.

This page points to resources for financing small businesses in Iowa.

General Considerations

Revolving Loan Funds

Revolving loan funds (RLFs) use repayments to provide additional loans.  These can be a low-rate source of financing for small businesses. 

Read more about revolving loan funds from Webster's New World Finance and Investment Dictionary

State of Iowa: Targeted Small Business Assistance

The Iowa Department of Economic Development offers targeted small business assistance.

Small Business Administration

This federal agency provides support for small businesses, including connecting small business owners with financing.

Chambers of Commerce

Chambers of Commerce can provide information about community financing options for businesses.  Some may even directly loan to mainstreet businesses.

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