This article explains your options for requesting a draw from your SBLOC line of credit at SEI Private Trust.
An SBLOC, or Securities-Based Line of Credit, is a type of loan that allows individuals to borrow against the value of their investment portfolio. Instead of selling assets, borrowers can use their securities as collateral to access funds, often at lower interest rates compared to traditional loans. This can provide liquidity for various needs while allowing investments to remain intact.
You have two options for drawing on your new SBLOC line of credit through Nationwide:
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You can request the monies be transferred into your linked checking account by logging in to the Nationwide SmartCredit client portal HERE and clicking the button for "Request a Draw" on the main dashboard. This will request monies from your line of credit to be deposited to your linked bank account. (Note: Once you have requested the draw, be sure to log back in to the Nationwide client portal to schedule a repayment. You can also set up automatic payments if desired).
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You can also call Nationwide direct at 1-877-205-9553 and speak with a member of their team to request a draw. You will want to tell them that you are looking to draw on your line and you work with James Lancaster at Sterling Edge Financial (Your SBLOC is through SEI Private Trust). Once they verify you, they will be able to send the funds to your linked bank account for you. (Note: If you are unsure of your SBLOC account number, reach out to Erin Daugherty at erin.daugherty@sterlingedgefinancial.com.)