| Copyright: | Business Wire | | Source: | Business Wire | | Wordcount: | 283 |
Business Editors/Insurance Writers
BOYNTON BEACH, Fla.--(BUSINESS WIRE)--May 13, 2008--Peachtree Settlement Funding (“Peachtree”) announced the renewal of a $50 Million credit facility for use in its life insurance premium finance business. The credit facility will be used to fund the firm’s Senior Leverage Policy Ownership business, which works with individuals and their estate planners to use the leveraged ownership of life insurance as part of an estate planning solution.
Ernest Jordan, Peachtree Senior Vice President and Head of Life Finance, adds, “I am very pleased with this transaction. Peachtree’s SLPO business fills an important need in the senior insurance market allowing individuals to finance their premiums instead of liquidating other assets. This portion of Peachtree’s business has been growing and this facility renewal will help us continue this trend.”
About Peachtree
Peach Holdings, Inc., a Florida corporation, is the parent (holding) company of the Peach group of companies, including, among others, Peachtree Settlement Funding, Peachtree Pre-Settlement Funding and Peachtree LBP Finance Company (together, "Peachtree"). Peachtree is a specialty factoring company that purchases high-quality deferred payment obligations. Through its group of affiliated companies, Peachtree caters to people seeking to sell structured settlements payments, annuity payments, lottery prize payments, sweepstakes awards and sports contract payments. In addition, Peachtree provides cash advances to people with pending personal injury claims. Peachtree has purchased over $4 billion of specialty receivables and continues to expand into new areas by bringing institutional financing and professionalism to bear on underserved markets. For further information contact Dori Erann at (866) 730-4418. Peachtree’s corporate website address is www.peachholdings.com.
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