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Summer is here and things are heating up in both the insurance agency market and here at Oak Street Funding. Our core business of providing capital to insurance professionals to help them manage their business, grow organically or expand through acquisitions is on the rise (almost 300% over last year). As the economy has improved and the market is starting to harden, we are seeing a flurry of activity and an increase in the number of requests for loans and the loan sizes – most are now focused on succession. We are on track to fund a record number of loans in 2012, which speaks to agents’ readiness to move forward with acquisition & growth strategies.
Our commitment to helping insurance agencies grow is stronger than ever. We have enhanced agent resources by providing more information through articles and white papers and our monthly webinars presented by a diverse range of insurance and business professionals offer new insight into managing and growing your agency. While we’ve had the capacity to handle larger loans for a number of years, we’re now better positioned to fund them with industry-focused management expertise and refined processes. With great excitement, we recently closed almost $10.0 million of loans in one month.
In this issue you’ll find information on acquisitions as well as best practices for agencies. We hope the content will help you take advantage of these positive times.