INDIANAPOLIS—Nov. 1, 2021— Oak Street Funding, a First Financial Bank company specializing in loan products and services for lines of business including certified public accountants, registered investment advisors and insurance agents, announces today it is doubling the lending limit for customers to support mergers and acquisitions, successions, technology investments and growth-focused initiatives.
Oak Street Funding is now providing loans of up to $30 million for CPA businesses in the niche vertical industries the lending team supports. This is a 50% increase in loan amounts previously available for clients. The decision to increase capital available for CPA’s business needs was made in response to the current marketplace, which shows many firms are pursuing mergers and acquisitions and reviewing succession plans as boomers continue to retire.
“Recent data shows lending requests are trending upward,” said Rick Dennen, founder and CEO of Oak Street Funding. “Meanwhile, business valuations have increased, with CPA practices seeing the cost of mergers, acquisitions, and other strategic opportunities climb beyond the comfort level of traditional capital sources. With the increase in our lending limit, Oak Street Funding continues to demonstrate our agility in quickly responding to the changing market.”
About Oak Street Funding Indianapolis-based Oak Street Funding, a First Financial Bank company, provides customized financial solutions for businesses in various industry sectors and third-party loan servicing for financial institutions. Oak Street Funding incorporates industry knowledge, easy-to-use technology and exceptional employees to deliver top-quality service and capital products to niche businesses nationwide. With in-house sales, underwriting, and servicing teams, and direct access to the CEO and executive team, Oak Street Funding is well-positioned to meet lending needs of borrowers in all stages of the business life cycle.
Media Contact: Rae Hostetler Hostetler Public Relations Representing Oak Street Funding 317-733-8700 Rae@HostetlerPR.com