Since we began the Bairs Foundation in late 2016, one of the challenges we have faced (like many new not-for-profit organizations) has been getting the word out. We’re the first nonprofit in the non-recourse lending space, and we’re looking to help plaintiffs in need as they go through litigation. But it hasn’t been simple to firmly plant ourselves in the space, or to explain what we do in a concise elevator pitch.
It is our hope that as we continue to talk with attorneys and the civil justice community that The Bairs Foundation will gain traction and others will join us in our cause. We are excited to have recently reached the HuffPost when author Allison McClure interviewed me. She introduced the foundation as follows:
“The Bairs Foundation’s co-founder, John Bair, built his success through a broad-based settlement planning company. By working on thousands of cases over the past few decades, he witnessed the caustic effect non-recourse lending has had on some of his clients. The Bairs Foundation is his answer to the need for a more sustainable model. I spoke with John, who started the foundation with his wife, Amy. He described their organization’s practice and what they hope to accomplish for individuals and the lending industry as a whole.”
In the article, I answer the following questions:
- What motivated you and Amy to create the Bairs Foundation?
- Where does the interest go that plaintiffs pay back from the advance?
- Does Bairs have a cap on how much it can advance?
- What do trial lawyers typically say about the non-recourse industry – and how does that compare to the feedback you have gotten since you started the foundation?
- Are there any good players in the for-profit space?
- Where do you see the non-recourse industry going from here?
The full interview is here. It is my hope that as we gain more exposure, that our alternative model for lending will become the norm in the non-recourse space.
About John Bair
John Bair has guided thousands of plaintiffs through the settlement process. Motivated by a desire to assist others in protecting their financial well-being, John and his wife Amy established the Bairs Foundation. At seven percent simple interest, the organization provides the financial assistance families need during litigation. Read more at http://www.bairsfoundation.org/.
A West Point graduate where he served as captain and military aviator, John Bair continues his commitment to our country through his efforts within the settlement planning industry. He has represented families of victims lost in the Flight 3407 crash, offered pro bono services to the families of 9/11 victims and drafted the first consumer protection bill for plaintiffs (H.R. 3699).