Today we’re spotlighting the LotusJumper SMP Advance Funding:

We asked SMP Advance what the inspiration was behind their company, this is what they had to say:

As attorneys my partner and I saw firsthand the financial difficulty many people experienced as a result of a significant personal injury or work injuries.   Oftentimes, they would be unable to work for a period of time or unable to pay their growing medical bills as a result of their injuries.   Some faced eviction or were about to lose their house because they could not make their mortgage payments.  Obviously, these scenarios have worsened given our present economy.  It became obvious that from a financial perspective, many could not afford to wait until their pending personal injury or workers’ compensation claim settled and many had poor credit and lacked the ability to obtain any type of short term financing.   We therefore had formed our company to help provide interim funding for those that had viable pending lawsuits and were in need of quick financial relief.   Essentially our company provides cash advances against  a small portion of the overall value of a person’s claim.  The advance is paid back at the time the case resolves (settlement or judgment).    The potential value of the claim is what is important and therefore poor credit and employment status are of no concern.   For those who have chosen to use our services, they have not only been able to obtain necessary and immediate funding, but in many cases allowed their attorneys the time to achieve full resolution of their claim without the financial pressures to settle for short or less money than what their case is actually worth.

When asked what achievement they were most proud of, SMP Advance said:

We are most proud of our growth rate combined with providing a much needed service to our clients.  Since our company inception in late 2005, our annual growth rate, using cases funded as a basis, has grown by almost 100% per year.  We are obviously very pleased to increase our revenue but also very happy we can do it while providing a positive experience for our clients.  We often hear our clients tell us how much they appreciate everything we do.  We treat each client with dignity and respect.  Additionally, we never judge our clients for needing funds.  Our rates are reasonable considering the risk and in fact we have some of the lowest rates in the industry.  We don’t try to gouge clients like some companies or treat them disrespectfully.  We truly believe that in addition to having the best rates in the industry, we also have the best customer service.  This doesn’t just come from us but from the feedback we receive from clients who have also dealt with our local and national competitors.  We may not be the biggest funding company out there, but we do believe we are the best.

We asked SMP Advance why Internet marketing is so important for their company, this is what they had to say:

Internet marketing is important because it allows us to reach a large audience.  Moreover, it allows us to target certain markets that would otherwise be much more challenging or difficult to reach.  Many people are unaware of the pre-settlement funding industry, and internet marketing not only provides a mechanism for reaching out to these people but also allows us to educate them and provide them financial options that they otherwise would not know they have.

We gave SMP Advance a chance to give a “Creative Marketing Tip of the Day”, this is what they said:

We like to try to think outside of the box as much as possible when it comes to marketing.   While we certainly engage in the standard mediums of advertising, there are always a multiple of other ways to reach your potential clientele and we try to find as many of them as we can.  My advice is to not stay content with what you are doing even if it appears to be working.  Instead, keep challenging yourself and always strive to try a different approach.

Leave a comment if you think you’re worthy of a Friday spotlight, and tell us why!