Bank loans for legal tech companies

Why don’t more small legal tech companies use bank loans to fund their companies? Most are chasing angel and venture capital when funding may be down the street. I was over to LexBlog’s bank this afternoon for what feels like an annual checkup. I am happy to report, all good, the bank was impressed with the bottom line from last year. I asked that they come over and tell Mrs. RL. We do a line of credit with our bank that was turned into a term loan a few years ago that’s renewed annually. We pay interest monthly and make regular principal payments throughout the year to reduce the balance. I have always liked banks. Straight talking and down to earth people who are in business to make loans to business people. Today, the home loans are gone to the large aggregators of home loan lenders it seems. Small banks matter. I sat down with the CEO, in addition to our loan officer, today. Our bank is a $100 million bank, not a $900 billion one, like Wells Fargo. Why…

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