PRZOOM - /newswire/ -
Boca Raton, FL, United States, 2006/01/03 - Peachtree Settlement Funding announces another major milestone as it passes the two billion dollar mark in committed financing.
Peachtree Settlement Funding is proud to announce it has exceeded the two billion dollar mark in committed financing. This accomplishment further substantiates Peachtree’s continued growth and strong financial support from the capital markets.
Founded in 1996, Peachtree Settlement Funding is a leader in the specialty factoring industry. Peachtree acquires a wide-range of financial assets such as Structured Legal Settlements, Lottery Receivables, Life Settlements, Tobacco Funding and other types of deferred payment obligations.
This latest development is the result of a new $225 million Life Settlement credit facility. Peachtree Life Settlements, a division of Peachtree Settlement Funding, is a leader in the Life Settlement industry. Peachtree Life Settlements purchases life insurance policies from individuals, typically over the age of 65, who may no longer want or need their policies or are unable to afford their policy.
Last year Peachtree passed the one billion dollar mark in committed financing. That milestone took seven years. Now, a mere seven months later, Peachtree has passed the two billion dollar mark.
Peachtree’s Chief Executive Officer, James Terlizzi, commented, “I’m extremely proud of our achievements and our continued growth. Our dedication and hard work made reaching this second milestone possible”. Mr. Terlizzi further stated, “In the coming months Peachtree plans to introduce several new initiatives as we continue to reach untapped financial assets.”
In early 2006 Peachtree is planning to move its Boca Raton offices to a newly designed 50,000 square foot facility in Boynton Beach, Florida.
About Peachtree Settlement Funding
Peachtree Settlement Funding (settlementfunding.com) is a specialty factoring company, which allows recipients of future cash flows to obtain an immediate lump sum in exchange for all, or a portion of, those future sums. Peachtree is the nation’s leading specialty factoring company and caters to people seeking to sell structured legal settlements, annuity payments, lottery prize payments, sweepstakes awards and life insurance policies. In addition, Peachtree provides cash advances to people with pending personal injury claims. Peachtree has purchased over $2 billion of specialty receivables and continues to expand into new areas by bringing institutional financing and professionalism to bear on under-served markets.