The LPDF is waiting for your loan application for office resources funding

July 11th, 2024
x
Bookmark

If you are a legal practitioner in need of a financial boost towards your office resources, the Legal Practitioners Development Fund (LPDF) is waiting for your application. The LPDF is calling on legal practitioners to apply for the R 50 000 for a sole practitioner or R 75 000 for practitioner with an associate (interest free) loan, to help with providing selected office resources for your law firm. To be eligible for this loan, the applicant must be an admitted legal practitioner in South Africa, have an up to date Fidelity Fund Certificate (FFC), and be able to prove by showing on a cash flow projection that you are indeed struggling.

Legal practitioners who would like assistance from the LPDF, must visit the LPDF website at www.lpdf.org.za and fill in the application form. All applications must be completed online and the applicant must attach the following documentation –

  • a certified copy of their identity document;
  • certified copies of their qualifications;
  • a certified copy of their admission certificate;
  • a certified copy of their FFC;
  • a business plan;
  • the projected budget and cash flow statement from the past 12 months; and
  • a list of items required.

After receiving the application, the LPDF Loans Committee will select the applicant who is eligible to receive the loan. The applicant will be contacted by the LPDF to purchase the required resources on behalf of the law firm. The successful applicant will have to source three quotes from the LPDF’s preferred suppliers. Items that can be purchased with the loan, include to name a few, office furniture, computer equipment and court robes. The loan does not include payment of rent of any office space or any luxury items. Other benefits that the successful applicant can get from the LPDF, includes AJS accounting software, which will be free for the first year, and the legal practitioner will be required to take over the payment of the AJS software should they want to continue using it. The Fund can also pay audit fees for legal practitioners in need of assistance, in obtaining their FFC to that regard. All applications or queries should be sent to applications@lpdf.org.za.

The interest free loan by the LPDF is repayable over three years, with a payment holiday on the first year after taking the loan, repayment will start in year two through to year three. Legal practitioners who qualify for the loan will sign a Lease Agreement with the LPDF. The LPDF is a dedicated development and support organisation for the legal profession, which was established in 2011 as an independent, non-profit organisation that focuses on the development of legal practitioners.

Kgomotso Ramotsho Cert Journ (Boston) Cert Photography (Vega) is the news reporter at De Rebus.

X
De Rebus