Insurance agency financier
Oak Street Funding is expanding its lending platform to include insurance carriers.
A release said that P&C, life, health, and fronting carriers will now be able to take out senior secured loans with Oak Street Funding to fuel their growth – either through M&A activities, contributed capital and surplus or for general working capital purposes.
“Over the past 14 years, Oak Street has developed a strong market position primarily in the insurance distribution space with a combination of industry expertise, nationwide presence, broad loan offerings and a proprietary technology platform,” said Oak Street Funding president and CEO Rick Dennen. “By expanding into the carrier space, we have the unique opportunity to provide cash flow-based loans across the spectrum from agent to carrier.”
“Increasing our product offering to carriers allows us to recognize our full potential as a lender and optimize our team’s insurance lending expertise,” added Oak Street Funding vice-president of strategic markets Brad Kronland.
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