Rick Dennen, President and CEO of Oak Street Funding® (www.oakstreetfunding.com), a First Financial Bank company, recently participated in a panel discussion at The Deals and Deal Makers Summit hosted by Echelon Partners in Newport Beach, CA. “A High Powered Tour of the Financing Options Available to Wealth Managers” explored a host of financing solutions that most entrepreneurs don’t know about, yet can be powerful in helping them achieve their objectives.
Dennen engaged the audience on the utilization of loans for acquisitions in situations where time is of the essence or when funds are needed by a firm planning for multiple acquisitions. He also addressed the pros and cons of using private equity and/or debt and why it is crucial for business owners to understand the best solution to facilitate growth.
“While private equity means a loss of control, it is important to understand how much debt is too much,” expressed Dennen. “As a lender, Oak Street Funding provides RIA firms with an understanding of how they can effectively use debt to support growth. Oak Street is experienced in working within the RIA industry and uses intangible assets, like future cash flows, to provide funds for acquisitions as wells as partner buy-ins, succession planning and working capital.”
In addition to participating in the panel, Dennen also participated in the “Ask the Experts” session along with Kirsten Petras, Executive Director of Oak Street Funding Sales, and Bruce Warren, Vice President of Strategic Market Sales.
Oak Street Funding has been a leader in lending to the professional services industry for years. As a non-SBA, portfolio lender, Oak Street is able to provide lending solutions as high as $30MM without requiring personal assets for collateral. With experts on staff who understand the role an infusion of cash can play in the operations of an RIA firm, Oak Street supports deal makers looking to acquire, grow or plan for succession.
About Oak Street Funding
Indianapolis-based Oak Street Funding (visit the page at www.oakstreetfunding.com), a First Financial Bank company, provides commercial financing for financial service businesses, restaurant franchises through the First Franchise Capital (visit the page at firstfranchisecapital.com) brand and third-party loan servicing for financial institutions. Oak Street Funding and First Franchise Capital utilize industry knowledge, proprietary technology and passion to deliver top-quality service and capital products to finance services professionals and franchise owners nationwide.