Peach Holdings Inc. says it has closed on the second “tranche,” or slice, of a $45 million credit facility that it will use in life insurance premium finance operations.

Peach, Boynton Beach, Fla., will use the facility to back a “senior leverage policy ownership” business, the company says.

The business “works with individuals and their estate planners to use the leveraged ownership of life insurance as part of an estate planning solution,” Peach says.