SOURCE: Structured Asset Funding

Structured Asset Funding

September 10, 2010 17:43 ET

Structured Asset Funding, LLC and 123LUMPSUM Secure $40,000,000 Financing Facility

HALLANDALE BEACH, FL--(Marketwire - September 10, 2010) - Specialty finance companies Structured Asset Funding and 123LUMPSUM announced today that Wells Fargo Bank, National Association, has extended a $40,000,000 financing facility to them as an approved originator. This transaction adds a third major banking credit facility for Structured Asset Funding, LLC and 123LUMPSUM and their customers. "The addition of this facility will enable us to finance our continued growth and to better serve our customers who need immediate financing to meet their needs," says Michael Asseff, CEO. The facility will be used to acquire court-ordered structured settlements. 

"In this difficult economy, it is our mission to help our customers get the most value for their structured settlement and annuity payments and to access their funds quickly. Now, having the strength of the Wells Fargo institution behind us, we strive to offer the best rates to our customers and to further increase the speed of our execution," says President Andrew Savysky.

About Structured Asset Funding and 123LUMPSUM -- Located in Hallandale Beach, Florida, Structured Asset Funding, LLC and 123LUMPSUM are the leading purchasers of structured settlement payments and annuities. These specialty finance companies apply institutional financing, underwriting and legal expertise to purchase future cash flows from individuals whose life circumstances have changed suddenly and need immediate cash from their structured settlements and insurance annuities.

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