Two Birds, One Stone
Securities-based Lines of Credit in Practice is a series based on borrower experiences using GS Select.
A 43 year old real-estate professional recently sold a property and was looking to invest the proceeds in the market. He was a sailing enthusiast and for many months had his eye on a particular sailboat. GS Select allowed him to both invest his money and finance the sailboat.
He first worked with his financial advisor to invest his proceeds into the market based on his investment goals. Shortly after, he used GS Select to secure the financing for the sailboat, using his recent investments as collateral. He paid the interest only until another cash distribution from his business was available to pay off the financing. Because this is a revolving line of credit, he is able to keep the line open for future needs.
That’s smooth sailing.