Oak Street Funding has relocated its commercial lending office from Carmel to Indianapolis. The company says the move was made to accommodate recent and future growth.
The company, which launched in 2003, says additional sales, marketing and commercial loan servicing staff will be hired as a result of the relocation. Oak Street says it began the year with 60 employees and its growth includes a 20 percent increase in staff this year.
"Emerging industries with intangible assets like future commissions and fees continue to create demand for cash-flow financing," said Rick Dennen, chief executive officer of Oak Street Funding. "As we’ve continually met this demand with products that address the unique needs of businesses throughout their life cycles, we’ve grown, and our goal is to make a difference in other industries like we have in insurance."
Oak Street says the success of its internal telemarketing group and the extension of its products into new areas also contributed to the growth.