SOURCE: Oak Street Funding

Oak Street Funding

February 07, 2012 06:00 ET

Oak Street Funding Reports Record Growth in 2011

Company Plans to Hire Additional Loan Officers and Underwriters in 2012

INDIANAPOLIS, IN--(Marketwire - Feb 7, 2012) - Tighter lending restrictions and an increased need for funding to fuel insurance agency growth has resulted in record growth in 2011 for Oak Street Funding (www.oakstreetfunding.com), the nation's leading commission-based lender for insurance professionals. New funded loans in 2011 grew by 36% percent over 2010, and the average loan amount increased nearly 7 percent over the same period.

As a result, Oak Street Funding has added several senior level positions in 2011 and will continue to hire loan officers and underwriters in 2012 to keep up with demand. For employment opportunities, visit http://www.oakstreetfunding.com/AboutUs/Careers.aspx.

Rick Dennen, CEO and president of Oak Street Funding, attributes the growth to the changing needs of insurance agents and an increasing awareness among insurance executives of Oak Street Funding's unique value proposition of providing needed funds that most banks won't consider. "The agents we work with are in need of funds, whether for expanding their business, hiring a new producer or consolidating debt," says Dennen. "Oak Street's Loan Officers work one-on-one with agents to design and structure loans that best meet their growth and cash flow needs."

Insurance agents' growing need for alternative funding sources has allowed the company to continue to grow despite demanding economic conditions. Oak Street Funding is a direct lender and handles its loan processing in-house. This means business loans are never sold to another finance company or bank.

About Oak Street Funding
Carmel, Ind.-based Oak Street Funding (www.oakstreetfunding.com) 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 utilizes industry knowledge, proprietary technology and passion to deliver top-quality service and capital products to insurance and finance professionals nationwide. Oak Street Funding can be found on Twitter @OSFunding and on Facebook at www.facebook.com/OSFunding.

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