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The Changing Capital Market for Independent Agencies

The capital markets available to insurance agencies have seen dramatic changes in the last two years. For some capital providers, funding sources have dried up. Other providers no longer exist. Even so, Rick Dennen, CEO and president of Oak Street Funding, says despite somewhat limited capital sources for agencies today, there's still plenty of capital available for well-run agencies seeking financing for growth. And now's the perfect time to grow or acquire, Dennen says. "This is the perfect time to go out and do an acquisition," Dennen says. "You're going to get it at the best price that we've seen probably in the last 10 to 15 years." But agencies seek capital for many reasons, Dennen says, not just acquisitions. Agencies might be searching for ways to execute on strategies, do additional marketing, or hire new producers. In this podcast, Dennen discusses what he looks for in an agency seeking a loan. Most importantly, keep your house in order, he advises.

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