More Insurance Professionals Can Secure Capital with Oak Street’s New Loan Program

Top Insurance Lender Introduces Third-Party Loan Servicing

INDIANAPOLIS--(BUSINESS WIRE)--More insurance agents will be able to obtain capital for growth, expansion and acquisition, thanks to the new Gold Program from Oak Street Funding (www.oakstreetfunding.com), which offers reduced interest rates and fees for qualified customers. The Indianapolis-based Oak Street, which pioneered commission-based lending, created the program to stimulate agency growth and lower costs in uncertain times — while making it easier for agents to find loans that meet their specific needs.

“We will continue to expand our product offerings and introduce programs to meet clients’ needs.”

“We continue to listen to our customers and provide the products they need,” said Rick Dennen, Oak Street CEO. “With commissions down from the soft market and the economy in turmoil, many agents are hesitant to embrace growth opportunities that require them to assume more debt — so we developed a new loan program which offers flexible terms and a streamlined underwriting process to align with agents’ capital requirements and business strategy.”

While many banks and commercial lenders have increased rates to account for the current market conditions, Oak Street has lowered them. “We’ve always been a responsible lender and done what’s right for our customers,” said Dennen. “We will continue to expand our product offerings and introduce programs to meet clients’ needs.”

Oak Street Servicing: third-party loan servicing

Launched in 2008, Oak Street Servicing offers third-party loan servicing for a wide range of asset and collateral types. It enables financial institutions to improve portfolio performance and offload the time and expense related to loan servicing, valuation and other back-office functions. Plus, Oak Street’s risk assessment experts can help minimize losses and maximize recoveries from distressed or unique loan portfolios.

Fifth Third Bank reached out to Oak Street to manage loan administration and treasury functions for a niche class of borrowers. According to Brian Gardner, Vice President and Asset Securitization Investment Banker for Fifth Third Bank, Oak Street “responds quickly to help in all situations, thanks to its highly skilled management team and extensive knowledge in risk assessment, valuation and strategy implementation.”

About Oak Street Funding

The Indianapolis-based Oak Street Funding is a family of diversified financial services companies that offers commission-based commercial financing through lending or purchasing of commissions and third-party loan servicing for niche asset classes. Oak Street utilizes industry knowledge, well-developed technology, and passion to deliver top-quality service and capital products to insurance and finance professionals nationwide. For more information, visit www.oakstreetfunding.com or call 866-625-3863 ([e-mail]).