Family Bank targets law firms with financing products
Family Bank is eyeing business growth from the legal fraternity by creating a range of financial solutions for law firms.
The new business line seeks to attract lawyers and law firms by offering services such as bank guarantee package for court payments, professional indemnity against liability as well as corporate fee note discounting.
The products, Family Bank says, gives law firms access to financial services not currently offered by commercial banks in an effort of improving their financial cash flow.
Speaking while unveiling the bouquet, Family Bank Group Managing Director David Thuku said the new product package for advocate’s bundles a set of services tailored for lawyers who are legally required to operate two separate accounts for their clients as well as their firm.
“Lawyers can now take advantage of the growth opportunity for their businesses and better servicing of their clients’ needs through the array of products available to them; as businesses and as individuals,” Mr Thuku said.
The new product extends business loans to legal firms which can be used for a variety of needs such as office expansion, executive office space financing, financing for Kenya Law Reports and library materials for in-house libraries among other needs.
Law firms will also be able to negotiate for staff loans through the Family Bank package.
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