NEW YORK, Aug. 12, 2024 — Cartiga, LLC, a leading legal funding company, is pleased to announce the successful closing of a Mezzanine lending facility that increases the funding efficiency for its existing bank line for its law firm working capital funding assets. This milestone achievement marks a significant step in Cartiga’s growth strategy, providing enhanced capabilities to expand its law firm funding business through its subsidiary, Ardec Capital Solutions, LLC.
The new financing structure, more efficient than previous arrangements, is set to bolster Cartiga’s position in the legal funding market. It will enable the company to meet the growing demand for capital among law firms, supporting their operations and case management needs.
“This is a key transaction for us as we look to grow our law firm lending business,” said Mike Bogansky, CFO of Cartiga. “It’s the culmination of extensive efforts by our team and an important step in our financing plan. This new structure will allow us to grow our commercial book significantly and better serve our clients.”
Bogansky added, “This enhanced financial capability significantly strengthens our position in the law firm funding market. It allows us to be more responsive to our clients’ needs and to innovate our offerings. This is an important step in our financing plan, and our primary focus for this new structure is on growing our commercial book and serving law firms nationwide with more flexible capital solutions. This will complement our ongoing commitment to our consumer business, ensuring we continue to serve both sides of our market effectively.”
