Oak Street Offers New Loan Program for Insurance Agents

July 14, 2009

More insurance agents may be able to obtain capital for growth, expansion and acquisition, thanks to a new program from Indianapolis-based Oak Street Funding.

The new Gold Program promises reduced interest rates and fees for qualified customers.

Oak Street said it created the Gold 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.

“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,” said Rick Dennen, Oak Street CEO, “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 said it has lowered them.

Launched in 2008, Oak Street Servicing offers third-party loan servicing for a wide range of asset and collateral types.

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