Underserved Energy Sector Turns to Oak Street Funding
Oak Street Funding Expands Their Unique Lending Approach to Energy Brokers, ESCOs and IECs
May 12, 2021 (Indianapolis, Ind.) – 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 customers save money on their energy bill, while many also provide energy-efficient products and services to residential and commercial customers to further help reduce energy costs while also minimizing the reliance on our limited energy resources.
Due to continued deregulation, the energy industry is experiencing an extreme transformation and increased growth with an estimated $227B created in the deregulated market. This growth creates a need for capital by certain retail energy brokers, energy service companies, and independent energy consultants. These loans will be predominantly used for mergers and acquisitions and working capital, as these energy-management businesses look to provide more cost-effective and energy-efficient products and services to their customers.
The energy market is ideal for Oak Street Funding’s expertise in niche lending which dates back to its inception in 2003 serving the Insurance vertical and since expanding to include Registered Investment Advisors (RIAs), Certified Public Accountants (CPAs) and Indirect Automotive Dealerships.
With a solid history of non-SBA lending, Oak Street Funding’s customized lending solutions and proprietary technology has been successful nationwide in fulfilling the distinctive capital needs for cash-flow based industries. Given many of these energy verticals sell electricity and/or gas to customers, their operating model is consistent with Oak Street Funding’s proven lending approach. For these cash-flow energy verticals, Oak Street Funding is uniquely positioned to support them by providing lending and servicing solutions that enable their continued growth.
“Oak Street Funding prides itself on creating client-centric lending solutions tailored for every niche industry we serve,” stated Rick Dennen, Founder and CEO of Oak Street Funding. “Our client-dedicated and in-house relationship managers, legal, underwriting, and elite servicing capabilities enables us to provide a unique and personalized experience for the underserved Energy brokers, service companies and consultants. We look forward to partnering with more energy-management businesses and enabling them to provide solutions that help reduce their customer’s energy cost and consumption.”
About Oak Street Funding
Indianapolis-based Oak Street Funding (www.oakstreetfunding.com), 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 regardless of where our borrowers are in their business life cycles.