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nyc criminal lawyers over 30 years of experienceWe Know How To Win Cases

Spodek Law Group handles tough cases
nationwide, that demand excellence.

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Faced 5+ Years in Prison

People Vs Joseph Amico

Covered by NYDaily News. Las Vegas man accused of threatening a prominent attorney and making vile remarks.

Faced 10+ Years in Prison

People Vs. Anna Sorokin

Covered by New York Times, and other outlets. Fake heiress accused of conning the city’s wealthy, and has an HBO special being made about her.

Faced 3+ Years in Prison

People Vs. Genevieve Sabourin

Accused of stalking Alec Baldwin. The case garnered nationwide attention, with USAToday, NYPost, and other media outlets following it closely.

Faced Potential Charges

Ghislaine Maxwell Juror

Juror who prompted calls for new Ghislaine Maxwell trial turns to lawyer who defended Anna Sorokin.

Why Choose Us

Clients can use our portal to track the status of their case, stay in touch with us, upload documents, and more.

Regardless of the type of situation you're facing, our attorneys are here to help you get quality representation.

We can setup consultations in person, over Zoom, or over the phone to help you. Bottom line, we're here to help you win your case.

Spodek
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Meet Todd Spodek

WE PROVIDE WHITE GLOVE SERVICE TO CLIENTS
WHO WANT MORE FROM THEIR ATTORNEY

The Spodek Law Group understands how delicate high-profile cases can be, and has a strong track record of getting positive outcomes. Our lawyers service a clientele that is nationwide. With offices in both LA and NYC, and cases all across the country - Spodek Law Group is a top tier law firm.

Todd Spodek is a second generation attorney with immense experience. He has many years of experience handling 100’s of tough and hard to win trials. He’s been featured on major news outlets, such as New York Post, Newsweek, Fox 5 New York, South China Morning Post, Insider.com, and many others.

In 2022, Netflix released a series about one of Todd’s clients: Anna Delvey/Anna Sorokin.

Why Clients Choose Spodek Law Group

The reason is simple: clients want white glove service, and lawyers who can win. Every single client who works with the Spodek Law Group is aware that the attorney they hire could drastically change the outcome of their case. Hiring the Spodek Law Group means you’re taking your future seriously. Our lawyers handle cases nationwide, ranging from NYC to LA. Our philosophy is fair and simple: our nyc criminal lawyers only take on clients who we know will benefit from our services.

We’re selective about the clients we work with, and only take on cases we know align with our experience – and where we can make a difference. This is different from other law firms who are not invested in your success nor care about your outcome.

If you have a legal issue, call us for a consultation.
We are available 24/7, to help you with any – and all, challenges you face.

Guide to Peer-to-Peer Business Lending

Guide to Peer-to-Peer Business Lending

Overview of P2P Business Lending

The basic premise of P2P business lending is simple:

  • Business owners apply for a loan through an online P2P lending platform like Lending Club, Funding Circle, or Ondeck.
  • Investors review loan applications and invest in ones that meet their criteria. This allows the loan to be funded by many small investments rather than one large lender.
  • The P2P platform services the loan by collecting repayments and interest and distributing payments to investors.

This model helps small businesses access loans that may be unavailable through traditional banks. It offers investors higher returns for funding these loans. And it greatly simplifies and streamlines the overall lending process.

Benefits for Business Borrowers

P2P business lending offers several key benefits for small business owners looking for financing:

Faster Application and Funding Process

Because P2P platforms use automation and technology to review applications, small business owners can complete the process in just a few days rather than weeks or months with a bank loan. Once funded, borrowers gain immediate access to capital to grow their business.

Flexible Loan Amounts

P2P business loans typically range from $5,000 up to $500,000 or more, with many platforms specializing in loans under $100k. This makes them suitable for funding short-term needs or smaller expansions.

Competitive Rates and Terms

By opening up lending to individual investors, P2P platforms create more competition which can lead to better rates for borrowers. And terms are often more flexible than traditional bank loans.

Building Business Credit History

Taking out and repaying a P2P loan helps demonstrate that your business is creditworthy. This builds your business credit profile which makes it easier to secure lending in the future.

Risks and Downsides

While P2P business lending has many upsides, there are some risks to consider as well:

Higher Interest Rates

Because P2P lenders take on more high-risk borrowers, interest rates may be 10-30% APR or higher depending on the platform, loan amount, and your creditworthiness. Rates from traditional lenders could be lower.

Variable Investor Funding

Relying on individual investors to fund loans makes availability less reliable compared to traditional lending sources. Loan options could dry up during economic downturns.

Prepayment Penalties

Some P2P platforms charge fees for early repayment which could limit flexibility in paying your loan off faster. Always review the fine print first.

Tax Compliance Burden

If you receive investments from more than 200 individual investors, servicing the loan may fall under SEC regulations which adds accounting overhead.

Tips for Getting a P2P Business Loan

If you think a P2P loan is right for your business, here are some tips to secure financing:

Check Personal and Business Credit Reports

Having a credit score over 600 and minimal negative marks on your report typically meets requirements for P2P platforms. Fix any errors on your reports first.

Calculate How Much You Need

Determine exactly how much capital you need and how you’ll use it to grow your business. Provide detailed projections to show investors how they will get paid back.

Apply to Multiple Platforms

Increase your chances of funding by submitting applications to several leading P2P platforms like LendingClub, Funding Circle, and OnDeck.

Offer Security or Collateral

Putting up assets or equipment as collateral can improve loan terms and rates substantially since it reduces investor risk. Even if not required, offering collateral shows commitment.

Leading P2P Business Lending Platforms

While the P2P lending industry has consolidated recently, these platforms remain top options for small business owners:

LendingClub

  • Loan amounts from $5k to $500k
  • Fixed rates from 7.9% to 29.9% APR
  • Terms up to 5 years
  • Minimum credit score of 600

Funding Circle

  • Loans from $25k to $500k
  • Rates from 5.49% to 28.99%
  • Terms from 2 to 5 years
  • Minimum credit score around 620

OnDeck

  • Loans up to $500k
  • Rates from 9.9% to 98%
  • Terms up to 4 years
  • Uses business data beyond just credit scores

In the end, weigh all your financing options carefully before committing to a P2P loan. But this innovative lending model can provide fast, flexible funding to take your small business to the next level when utilized strategically. Reach out for help assessing the pros and cons for your specific situation.

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Testimonials

I was searching for a law firm with some power to help me deal with a warrant in New York . After 6 days I decided to go with Spodek Law Group. It helped that This law firm is well respected by not only the top law firms in New York , but the DA , Judge as well. I...

~Fonder Brandon

5 Stars
It was my good fortune to retain Spodek Law Group for representation for my legal needs. From the beginning, communication was prompt and thorough. Todd, Kenneth and Alex were the first people I worked with and they all made me feel comfortable and confident that the team was going to work hard for me. Everything was explained and any concerns...

~A G

5 Stars
After meeting with several law firms, I chose the Spodek Law Group not only for their professionalism and experience, but for the personal attention given to me right from the initial consultation. It is important to recognize how crucial having the right legal team is when faced with potentially life altering events that impact families and the lives of loved...

~George Cherubini

Spodek Law Group

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We Provide Superior Service, Excellent Results, At A Level Superior To Other Criminal Defense Law Firms. Regardless Of Where Your Case Is, Nationwide, We Can Help You.
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