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Banking services for lawyers

Banking services for lawyers

At Meridian, we understand that your law practice has unique needs. Whether you’re starting out or growing your practice, it’s important to have a financial partner who’s in touch with the legal industry and can provide tailored solutions that support your business through every stage.

Financial considerations for lawyers include:

  • What will it cost to buy into a practice, or to launch your own? 
  • What area of law will you specialize in? 
  • The work/life balance – balancing your income with flexible schedules 
  • Repaying your student loan. 

Meridian offers lawyers financial solutions for:

  • Merging with other legal practices 
  • Opening additional practices in new locations 
  • Acquiring working capital for adding specialized staff to build capability 
  • Marketing to grow awareness and develop your brand 
  • Investing in technology such as invoicing and billing cycle software

Managing your cash flow

A good cash flow management system will help you effectively balance your practice and personal life. 

Meridian has a number of business solutions that can help you spend more time focusing on what you do best – managing your clients’ legal requirements – without having to worry about what’s happening with your money. Also, unlike other financial institutions, we offer immediate access to a dedicated Senior Wealth Advisor to help keep you on track as your practice grows.

Benefits of working with us

  • Interest rates as low as Prime plus 1.00% 
  • Practice purchase financing up to 75%, covering equipment, building and goodwill, supported by a valuation 
  • Practice start-up, up to 75% financing for LHIs and equipment 
  • Still a student? Get financing up to $100,000 at Prime plus 1.25%

At Meridian, you’re not just another business

We understand we’re dealing with your hopes and dreams, and that what we can offer you has a profound impact on your life. We’ll carefully review your application with the goal of supporting you as a business partner. 

Since we offer student loan packages as well as business solutions, we’ll be with you for the whole journey – from entering your first year of legal study to completing your education, to launching your first practice and then helping you grow it.

We’ll find a solution

Where banks may have responded with a flat “no”, at Meridian we’ll do our best to come up with a solution. We’re interested in becoming your business partner, not just a supplier.  

We're here to help you figure it out

When we say there are no dumb questions, we really mean it. We’re really keen to help you complete your education, launch your practice and enjoy the rewards. So, contact one of our advisors to find out how we can support you on your business journey. 

For more information about our Professionals program, visit: MeridianCU.ca/Professionals

To find an Advisor near you, visit: MeridianCU.ca/SBAdvisor

Please note that this is a guide only and should neither replace competent advice, nor be taken, or relied upon, as financial or professional advice. Seek professional advice before making any decision that could affect your business.