IBJNews

Oak Street Funding raises $50 million in new capital

Back to TopCommentsE-mailPrintBookmark and Share
On The Beat Industry News In Brief

Carmel-based Oak Street Funding, which specializes in financial services for insurance agencies, has raised $50 million in new capital.

Oak Street plans to use the money to increase the number of loans it provides to commission-based insurance agents and brokers. In July, Oak Street introduced a new “Gold Program” offering reduced interest rates and fees for qualified insurance customers.

Autobahn Funding Co., a subsidiary of DZ Bank AG Deutsche Zentral-Genossenschafts, the fifth-largest bank in Germany, led the $50 million deal. Oak Street CEO Rick Dennen said DZ Bank was willing to lend because of Oak Street’s resistance to subprime lending practices.

“This latest infusion of capital speaks to the confidence we instill in the financial community,” Dennen said.

ADVERTISEMENT

Post a comment to this story

COMMENTS POLICY
We reserve the right to remove any post that we feel is obscene, profane, vulgar, racist, sexually explicit, abusive, or hateful.
 
You are legally responsible for what you post and your anonymity is not guaranteed.
 
Posts that insult, defame, threaten, harass or abuse other readers or people mentioned in IBJ editorial content are also subject to removal. Please respect the privacy of individuals and refrain from posting personal information.
 
No solicitations, spamming or advertisements are allowed. Readers may post links to other informational websites that are relevant to the topic at hand, but please do not link to objectionable material.
 
We may remove messages that are unrelated to the topic, encourage illegal activity, use all capital letters or are unreadable.
 

Messages that are flagged by readers as objectionable will be reviewed and may or may not be removed. Please do not flag a post simply because you disagree with it.

Sponsored by
ADVERTISEMENT

facebook - twitter on Facebook & Twitter

Follow on TwitterFollow IBJ on Facebook:
Follow on TwitterFollow IBJ's Tweets on these topics:
 
Subscribe to IBJ
ADVERTISEMENT