Issue link: https://info.seic.com/i/1491100
Product highlights Terms • Minimum line of credit is $25,000 • No initial draw is required; once the line is in place, there is a low minimum draw amount of $1,000 • Funds are accessed via ACH to the bank account that is linked during application; wire transfers are available as an exception • The revolving line of credit means the client can continue to make draws and repay balances as many times as they like Interest payments • Interest payments are billed monthly based on the Secured Overnight Financing Rate (SOFR) plus a margin • Can be paid via ACH, check or an advance on the line, depending on funds availability Fees • No application fees • No maintenance fees • No prepayment restrictions • No wire fees Collateral allowed • Common stocks/ADRs traded on the Nasdaq or NYSE • Government/municipal securities • Corporate bonds • Mutual funds • Cash/Certificates of Deposit (must be FDIC insured) • Unit-traded funds • Exchange-traded funds • Nontraditional mutual funds (Must be listed/traded on a domestic exchange) 1 Supernova Lending LLC ("Supernova") is the lender of record for Nationwide Smart Credit℠ lines of credit. Nationwide provides the loan proceeds for each Smart Credit loan via a legally binding agreement with Supernova. Nationwide is a Fortune 100 Company and is recognized as an industry leader in the financial services and wealth management space. Supernova is an industry leader in wealth management lending technology, offering the industry's only fully automated and customizable securities-backed lending solution. Supernova specializes in end-to-end securities-backed lending, including loan origination, life of the loan servicing and streamlined advisor and client workflows. 2 A fully integrated solution with advisor firms and custodians allows for real-time inquiry and pull of client and collateral account data. This makes the application and loan agreement process run faster and more seamlessly than lower levels of integration. Fully integrated solutions to activate collateral account lock-down and e-signature of the collateral account control agreement streamlines the underwriting process for decisioning lines of credit and setting approved lines live. The Supernova Technology Trademark is used under license from Supernova Lending LLC. The purpose of a Nationwide Smart Credit line of credit must be for personal, family or household purposes and not for securities investments or to purchase or carry margin securities, which include: (1) stocks that are not registered on a national securities exchange, or any over-the-counter security designated for trading in the national market system; (2) debt securities (bonds) that are convertible into margin stock; and (3) shares of most mutual funds. California: Loans made or arranged pursuant to a California Lenders Law License. Delaware: Supernova Lending LLC is licensed by the Delaware State Bank Commissioner to engage in business in this State under license number 023438, expires 9/21/22. Rhode Island: Rhode Island Licensed Lender. Not available in Mississippi, Nevada, and Vermont. Nationwide Smart Credit℠ Loans are made by Supernova Lending LLC. Supernova Lending LLC is a subsidiary of Supernova Companies LLC. Nationwide SBL LLC (NMLS): 1804109 Supernova Lending LLC (NMLS): 1543400 Nationwide, the Nationwide N and Eagle, Nationwide is on your side and Nationwide Smart Credit are service marks of Nationwide Mutual Insurance Company. © 2021 Nationwide For Financial Professsional Use Only — Not For Use With The Public EGM-0184AO (12/21)