Oak Street Funding Loan Originations Soar in 2012
(firmenpresse) - INDIANAPOLIS, IN -- (Marketwire) -- 01/15/13 -- Oak Street Funding () experienced unprecedented growth in 2012 as loan originations increased nearly 300 percent over 2011 levels. The company, which offers commercial financing exclusively for insurance professionals, announced that loan originations since inception now exceed more than $300 million.
The company credits changing insurance demographics and the company's ability to offer products and larger loan sizes for its customers.
"A significant portion of today's insurance agents are approaching retirement, which creates opportunities for succession and consolidation," said Rick Dennen, CEO of Oak Street Funding. "Traditional funding sources often don't recognize a commission stream as an asset, and won't finance an acquisition without agents collateralizing their personal assets. Oak Street Funding only services the insurance industry, so we are positioned to help fund the continuation of successful agencies."
"During 2012, we saw a significant number of well positioned agents decide to acquire and/or grow their business requiring loans up to $10.0 million," said Dennen. "We're delighted that we could assist in the growth of these businesses."
Carmel, Ind.-based Oak Street Funding () is a family of diversified financial services companies that offers commission-based commercial financing exclusively for insurance professionals and third-party loan servicing for financial institutions. Oak Street Funding utilizes industry knowledge, proprietary technology and passion to deliver top-quality service and capital products to insurance and finance professionals nationwide. Oak Street Funding was recognized as a 2012 Indiana Company to Watch. The company can be found on Twitter (at)OSFunding and on LinkedIn at .
Media Contacts:
Linda Muskin
847-432-7300
Mara Conklin
847-816-9411
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Datum: 15.01.2013 - 07:00 Uhr
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News-ID 1187064
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