Pittsburgh-based PNC Wealth Management recently launched a solution to provide enhanced liquidity and borrowing options for PNC’s Premier Client program customers, individuals with approximately $100,000 to $3 million in investible assets.
Securities-Based Lending (SBL) is for clients with more than $200,000 of assets at PNC Wealth Management. It offers access to liquidity while remaining invested in the markets. The minimum line of credit is $100,000.
“Whether for a home renovation, critical emergency, luxury purchase, debt consolidation or an unexpected tax obligation, our Securities-Based Lending solution can serve as a crucial line of credit for clients without disrupting their financial plans,” Rich Guerrini, PNC Wealth Management, president and CEO said.
Benefits include a flexible way of borrowing money when unexpected needs arise, knowing a line of credit immediately, access to liquidity without having to sell securities or disrupt investment portfolios, and low interest-only repayments. The line of credit can be established and set in place at any time.
PNC Premier Client customers can receive a personalized securities-based lending evaluation in minutes that explains the size of a potential credit line backed by their pledged portfolio.
PNC Bank, National Association, is a member of The PNC Financial Services Group, one of the largest diversified financial services institutions in the United States.