What Interest Rate Increases Mean for Independent Insurance Agencies

The Federal Reserve raised interest rates by 25 basis points in March. Future increases are expected during each of its upcoming policy meetings through to next year. What does this mean for independent insurance agency owners planning strategic growth that requires financing?

From the Desk of Rick Dennen: Federal Reserve Rate Increase

Last week, the Federal Reserve announced a rate increase of 25 basis points to combat rising inflation. Officials indicate this is the first of six increases planned for the rest of the year totaling an increase of 1.5-2%. These increases have many business leaders wondering what impact the rising rates will have on their cost of capital.

6 Tax Strategies from a Reformed CPA, Now Business Owner

For many business owners, tax time equals stress. It’s not only added work in the first quarter but also added anxiety wondering whether cash will be due to the federal government on April 15. Here are six tax strategies to think about this year that could reduce future tax payments for any business owner.

Tax Season is the Best Season to Prepare Clients for Bank Loans

Business owners and managers are showing an increased interest in growth strategies this year. With PPP funding in the past, traditional banking and lending are back in vogue according to analysts who say loan requests will pick up steam in 2022. Tax season is an opportune time for CPAs to consult with clients who may need business loans.

How to Partner with a Lender

Lenders pulled back on business loans amid COVID-19, tightening criteria and even halting traditional loans to focus on Paycheck Protection Program loans. With the PPP program closed, insurance agency owners and leaders are returning to traditional lending for financing. As a result, lenders are seeing an uptick in requests for funding. How do you know if your business worth the risk for lenders?

Planning an Acquisition in the New Year? Use these best practices.

Regardless of the global pandemic, mergers and acquisitions continue with robust activity. High levels of cash reserves reinforced by strong fund raising, low interest rates, and confidence in the economy’s emergence from Covid-19 all contributed to these acquisitions, which are expected to continue in the New Year. Borrow from these best practices.

Oak Street Funding Launches OnPoint Series

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 its new OnPoint series of podcasts, webinars and videos for business leaders. Find more on our 2022 topics.

Oak Street Funding Announces 50% Increase in Lending Limit for CPAs

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, and growth.

Underserved Energy Sector Turns to Oak Street Funding

INDIANAPOLIS—May 12, 2021— Oak Street Funding® (www.oakstreetfunding.com), a First Financial Bank company, has expanded its lending offerings to the Energy Industry by addressing the underserved needs of Energy Brokers, Energy Service Companies (ESCOs) and Independent Energy Consultants (IECs). These niche energy verticals focus on helping their customers save money.