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Peachtree LBP® Announces Update of Loan Rate for LBP 401 Plus®
Business Wire, May 5, 2008
NORCROSS, Ga. -- Peachtree LBP, the Administrator for LBP 401(k) Plus, announced that today's rate for loans made as part of LBP 401(k) Plus is 5.03%. The loan rate is based on the 12-month LIBOR rate (currently 3.08%) plus a margin of 1.95%. (The LIBOR rate varies on a day-to-day basis, and the actual rate on an LBP([R]) case is set at the time of funding.)
About Peachtree LBP
Peachtree LBP Finance Company, LLC ("Peachtree LBP") is the Administrator of LBP 401(k) Plus and a subsidiary of Peach Holdings, Inc. LBP 401(k) Plus is a turnkey, individually owned retirement program that emulates a traditional 401(k) plan for highly compensated employee-participants, while permanently eliminating top-heavy, non-discrimination testing issues for employer/sponsors. For further information about Peachtree LBP or LBP 401(k) Plus, please visit our website at www.PeachtreeLBP.com or call Barry Vose at 1-800-370-6368.
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About Peach Holdings, Inc.
Peach Holdings, Inc., a Florida corporation, is the parent (holding) company of the Peach group of companies, including, among others, Peachtree Settlement Funding, Peachtree Attorney Finance, LLC, Peachtree Pre-Settlement Funding, LLC and Peachtree LBP Finance Company, LLC (together, "Peachtree"). Peachtree is a group of specialty finance companies that purchase high-quality deferred payment obligations. Through its group of affiliated companies, Peachtree caters to people seeking to sell structured legal settlement 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. Peachtree's corporate website address is www.peachholdings.com.
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