How it started
While building successful finance companies through traditional lending channels, the founders of Oak Street Funding realized that there were professionals in the insurance industry whose capital needs were not being adequately met. Oak Street was formed to supply this capital and allow the insurance professional to realize the full value of their agency by offering commission-based commercial financing through lending and book acquisition. Oak Street Funding is dedicated to serving the needs of insurance professionals, and it is our mission to provide capital to insurance agents, agencies and carriers in order to expand their business and increase sales.
Over the years, we’ve expanded to become a family of diversified financial services companies that also includes Oak Street Servicing, a wholly-owned subsidiary specializing in third party loan servicing. Oak Street Servicing leverages proprietary technology and web-based reporting tools to maximize client visibility, control, and security over their asset portfolio. Our servicing system can be customized to support any loan structure and repayment terms. Learn more
How it works
Each loan is set up so that the insurance agent’s future expected renewal commission stream is utilized to support the repayment of the loan. We have sophisticated actuarial models and technology to quickly determine how much capital can be borrowed. Over the term of your loan, our proprietary technology carefully monitors your book of insurance policies to ensure the policies are performing as expected and are sufficient to pay off your loan.
We believe that emerging agencies and agents should retain their key asset — the customer. Every loan is custom-designed so that it can be repaid through the expected renewal commissions with minimal out-of-pocket cash from the borrower. Once the loan is repaid, the renewal commissions revert back to the borrower.
Industry knowledge
Oak Street Funding pioneered the concept of commission-based lending for insurance agents and agencies. We focus solely on serving the capital needs of the insurance industry and our team of professionals have extensive experience helping professionals like yourself. Since its inception, we’ve funded over 1,200 loans, providing over $190 million of capital to agents and agencies in 46 states.
Vision Statement
Oak Street utilizes industry knowledge, well-developed technology, and passion to deliver best-in-class service and capital products to insurance and finance professionals nationwide. Our customer-focused mindset and access to capital will allow us to continue to fulfill customer needs, identify growth opportunities, as well as provide an empowering work environment for employees.
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