Now available to clients of our firm through our broker/dealer, LPL Financial, Goldman Sachs Private Bank Select (“GS Select”), a securities-based lending solution that uses diversified, non-retirement investment assets in a client’s pledged account as collateral. GS Select’s digital platform allows you to quickly and seamlessly establish a revolving line of credit, providing easy access to liquidity.
Download the Goldman Sachs Private Bank Select brochure for more information and contact us to see if this solution may be appropriate for your unique situation.
GS Select client brochure 3.18.pdf
Loan Features:
- Size: From $75,000 to $25 million, with initial minimum draw requirements of $75,000 and subsequent draws starting at $2,500
- Use: Any purpose other than purchasing or carrying margin stock
- Facility type: No Fee Revolving line of credit; clients can borrow, repay, and re-borrow multiple times
- Collateral: Non-retirement investment assets, including stocks, bonds, mutual funds, and exchange-traded funds
- Interest rate: 1-month LIBOR, reset monthly, plus a spread determined by loan amount.
- Documents: No personal financial statements, tax returns or paper applications.
Goldman Sachs, Wendell Charles and LPL Financial are not affiliated.
Securities-based loans may not be suitable for all borrowers/pledges and carry a number of risks, including but not limited to the risk of a market downturn, tax implications if pledged securities are liquidated, and an increase in interest rates. If the value of pledged securities drops below certain levels, investors may be required to pledge additional securities and/or paydown the loan. The risks are described in the Product Guide and FAQs available upon request. You should consider these risks and whether a securities based loan is suitable for you.
Credit qualification and collateral are subject to approval. Additional terms and conditions would apply. Loans are offered by the Salt Lake City branch of Goldman Sachs Bank USA (“GS Bank”), a New York state–chartered bank and a wholly owned subsidiary of The Goldman Sachs Group, Inc. GS Bank is a member of the Federal Reserve System and Member FDIC. Goldman Sachs Private Bank Select is a business of GS Bank. © Copyright 2017 Goldman Sachs, All Rights Reserved. Goldman Sachs Private Bank Select is a registered trademark of Goldman Sachs & Co., LLC.