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Oak Street Obtains Funding

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A lender that accepts insurance agents’ commission streams as collateral has received additional financing for its own operations.

M&I Bank, a unit of Marshall & Ilsley Corp., Milwaukee, Wis., has set up a new, $20 million credit facility for Oak Street Funding L.L.C., Indianapolis, Oak Street says.

Oak Street says it now has a total of $275 million in capital supporting its commission-based lending activities.

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