By Jeff Huff of American Law Firm Capital on April 8, 2020
Over the past 20 years our team at American Law Firm Capital has been fortunate to work with thousands of plaintiff law firms and hundreds of mass tort lawyers. This lending experience while we were executing during two of the last three financial crisis serves as the basis of this article. Our goal is to help you with the financially related ?Business of Law? practices in order to assist you better.
Acquire Capital During the COVID-19 Crisis
First, we’ll quickly review past financial crashes, lessons learned and what we believe that you can expect from our current COVID- Crash. We’ll then move into suggestions and actionable items to help you better acquire loans for your firm.
The Past 3 Financial Crashes
Over the past 33 years, we’ve had three major stock market crashes 1987, the Dot.com Bust (2000 through 2003), and the Financial Meltdown (2007 through 2008). There have also been at least an equal number of mini crashes in between, with the most recent occurring in the last quarter of 2018.
The more immediate relevance of the past three crashed is the last bear market in U.S. stocks which occurred between October 2007 and March 2009. During that time, the S&P 500 plummeted nearly 57%. The recent Corona Virus Crash reached 35% between February and March of 2020.