The Application Process is Simple, Fast, and Free
Whether you’re looking for a quote for yourself, or you’re a registered agent with us, you’ll know the importance of obtaining actionable answers fast. That’s why ABNicholas incorporates modern technology into our application process that allows you to get a quote within the same day.
Call us to get support by phone: 202-379-4744
The Online Application Process
Apply securely online using only a recent brokerage account statement and ID, and we at ABN together with you your licensed lending institution do all the work from there. We’ll ship you a term sheet — essentially a pre-approved financing letter — securely and you’ll have five business days to review it. As noted, this term sheet is de facto pre-approved financing: the terms and rates will be no worse than what you see on your term sheet.
Sign your no-obligation term sheet before the deadline with two clicks to indicate you understand your offer and agree that we have not offered investment or tax advice per compliance regulations. And you’re done. You’ll be contacted by your licensed lender advisor who will handle your account opening and the delivery of your funds.
Once connected with your licensed institutional advisor, who is a carefully selected executive at your FINRA-registered lending institution, he/she takes over. We use only major “household-name” firms and the most experienced advisors with flawless records to ensure that you have the very best possible customer experience.
After your initial contact with your licensed lender adviser, you can stop right there and owe us nothing . But if you wish to proceed, as 99% of our clients do at that point, your account is opened for you by your licensed adviser — an account that’s yours alone, not jointly owned with the lender or anyone else.
Your licensed lender adviser, with your written permission, moves the collateral securities you wish to use as your collateral into your new account at your lending institution — a process really no different from you, say, deciding to change your brokerage on your own. But in this case you don’t even have to contact your current brokerage; provided that your lender has your permission, everything is handled electronically institution to instituttion. You need not even face your current brokerage adviser or representative because your new lender adviser does all the work for you to speed things along. In just a matter of a few days, you’l have a great line of credit waiting for you to draw upon. .
No Obligation, Ever
A. B. Nicholas has built its reputation over the years by word of mouth, and that means dependence on customer satisfaction. After signing your loan agreement (which essentially mirrors your term sheet with some standard legalese), a common bank background lien is placed on your account by the lending brokerage’s banking division.
Your line is then immediately opened and ready for drawdown, and you may draw as much or as little as you wish, when you wish.
That is the application process for approval and delivery of funds in a nutshell.
There is never any obligation to proceed during any of these steps. You do not owe any fee to A. B. Nicholas unless you both choose to proceed AND we have delivered your funds as promised.
We have picked our licensed institutional lending partners with the greatest possible care and will always work on your behalf to ensure there are no unnecessary delays. Our clients expect nothing less. So every LeverageLine stock loan credit line applicant moves through our system as quickly as possible from start to finish.
The Application process is concluded with funding in normally between 5-7 business days, from initial application to availability of funds.
After we’ve shipped your term sheet securely you’ll have about 5 business days to review it. Contact us or your institutional lender adviser if you have any questions.
Your term sheet, as noted, is de factor pre-approved financing, but you’ll need to sign your term sheet before the expiration date deadline to lock in your offer and proceed. Call us with any questions (202.379.4744).
- APPLY: Fill out our secure Application/Quote Request form
- ATTACH: Attach a recent brokerage statement and matching ID (e.g., passport or driver’s license).
- GET QUOTE: After consulting with our licensed institutional lending partner, ABN creates and delivers a pre-approved term sheet via our secure online system. Client can sign digitally with two clicks indicating they understand their offer and would like to proceed to the next step. Again, there is no obligation incurred by signing the term sheet.
- RECEIVE TERM SHEET: A file copy goes to the client and client’s referring agent (if there is one) at same time. Client is welcome’s to call us at any time with any questions at 202.379.4744, as we represent the client not the lender. ABN is never compensated in any manner by the lending institution.
- GET UPDATES: Client’s licensed lender adviser at his/her lending institution will provide updates. (Agents, if any, will also advised by ABN).
- LOCK-IN OFFER. Client receives signed digital copy, fulfilling minimum compliance requirements set by lending institution. This locks in pre-approved offer but does not obligate client in any other way unless they choose to proceed.
- MEET YOUR LENDER. Client speaks with licensed institutional lender adviser to answer questions and to set up account, if interested in proceeding. (Note: In some cases, lender adviser will call client prior to signing of term sheet to answer questions.)
- SELECT YOUR COLLATERAL. Client will designate those securities he/she wants to use to secure his/her line of credit.
- RECEIVE ASSETS. Lending brokerage will handle transfer of assets to client’s new account at lending brokerage.
- CONFIRM COLLATERAL. Shares arrive (at this point client has a simple, standard brokerage account, with reports on demand, online access, etc.)
- CONCLUDE LOAN AGREEMENT. Loan agreement awaits, and once signed, a simple lien is placed in the background on the account. A separate cash banking account is opened with funds for drawing by wire or check. ABN 1-2% one-time fee is due only after delivery of financing as promised, and may be paid from line or via credit card.
- COMPLETION. LeverageLine in its standard form is a revolving line of credit, so client always chooses when.
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