BP Settlement News Continues To Drag On As Business Owners Wait For Needed Funds

-- The B.P. Claim Funding Center at Legal-Bay continues to assist business owners with B.P. Settlement Funding Cash Advances and also traditional Business Lines of Credit.

News provided by

Legal-Bay LLC

Jul 25, 2013, 04:00 ET

TAMPA, Fla., July 25, 2013 /PRNewswire/ -- Legal-Bay LLC, the leading B.P. Claim Funding Firm, announced today that they are expanding their funding products to include traditional business lines of credit for business owners still waiting for their B.P. Settlement checks.

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Legal-Bay has reported that the recent B.P. Appeal will be ruled on around the first week of Aug. Although the B.P. Claims Administer is still paying claims, Legal-Bay believes the process is moving a lot slower due to B.P.'s constant challenging of the landmark settlement agreement. This has caused many businesses harmed by the spill to continue to struggle with cash flow issues. Legal-Bay's B.P. Claim Funding Program has alleviated many of these claims for small businesses. However, Legal-Bay has now announced that they are working on funding larger lines of credit for businesses that need in excess of $100K to $1MM for capital purposes.

"We were able to secure US$10MM for traditional lawsuit funding for B.P. clients in the range of $10K to $100K. However many of our larger business owners were in need of substantially more. We have now secured available bank capital for Gulf business owners that need either smaller lawsuit cash advances or larger lawsuit loans which are very similar to traditional banking lines of credit," said Patty Kirby, Head of Client Relations.

Any businesses in need of capital financing from their B.P. Settlement check can apply directly to Legal-Bay, provided that they are located in the 5 states in the B.P. Settlement: Louisiana, Mississippi, Alabama, Texas, and Florida; and that have a filed claim in the B.P. Claim Center with a law firm.

To apply for either a lawsuit settlement funding or a B.P. Business Credit Line apply at: http://lawsuitssettlementfunding.com/bp-gulf-lawsuit-settlement-funding.php or by calling Legal-Bay's toll free hotline at: 877.571.0405.