Size: From $75,000 to $25 million, with advances starting at $2500
Use: Any purpose other than purchasing, carrying or trading margin stock
Facility Type: 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 Term SOFR plus a spread determined by loan amount, reset monthly
Repayment: Interest only, payable monthly; principal can be repaid at any time without penalty
Term: There is no maturity date; repayment can be demanded at any time
Fees: No application, origination, or annual fees
Documents: No personal financial statements, tax returns, or paper applications