How to Apply

Apply by following the FundCash application process. First you want to:

  1. Have your Mutual Fund and/or Brokerage statements in front of you.
  2. If your statement doesn't provide ticker symbol next to each Mutual Fund, you can find the ticker symbol by going to our Fund Lookup.
  3. For multiple registered owners of Mutual Funds being used as collateral, make sure you have their home and employment information available.
  4. We recommend that you read:
Step 1 includes 5 forms

  1. Applicant Information (required form)
  2. Employment Information (required form)
  3. Co-Applicant Information (only required if other parties are owners of the mutual funds you are borrowing against)
  4. Co-Applicant Employment Information (only required if there is a co-applicant)

Detailed Form Information Requested

Applicant and Co-Applicant Forms

  • Name (title, first, mi, last)
  • Home Street Address
  • City, State, Zip Code
  • Home Phone
  • Cell Phone
  • E-Mail Address
  • Social Security
  • Date of Birth

Employment and Co-Applicant Employment Forms

  • Employment status
  • How long employed
  • Position/Title
  • Work Phone, ext.
  • Current Employer
  • Employer's Street Address
  • City, State, Zip Code
  • Work E-Mail Address

Questions

  1. Choose your Requested Maximum Line of Credit Amount (A credit line for this amount or the maximum amount eligible will be opened.)
  2. Choose your Initial Draw Request
  3. If your initial draw request exceeds your credit limit when your credit line is approved, you may choose to receive maximum initial advance available or cancel your credit line and application.

2 Sections to Choose From

  1. Mutual Fund Group(s) - if your investments are held directly by a mutual fund group
  2. Brokerage Account - if your investments are held with a brokerage firm

Be sure to enter all funds you own that you wish to use as collateral. You will be notified by email of the maximum line of credit amount according to the current market value and risk category of your mutual funds.

Once you submit your application it will be begin being processed by the Bank. Once your application is reviewed you will be notified of your maximum credit line amount and we will send you the following documents to review, sign and return:

  • Custody Agreement
  • Security Agreement
  • Line of Credit Note
  • Account Transfer Form
  • Collateral Maintenance Guidelines

We may request additional information at this time including copies of your driver’s license and social security card. You will need to:

  • Sign each loan document and have each co-applicant sign each document (If all the co-applicants’ signatures are not on the documents, we are unable to process your loan until we receive documents properly completed.)
  • Attach a copy of each Mutual Fund statement or Brokage Account statement to the Account Transfer document
  • Obtain a Signature Guarantee for each document from your bank or broker

Place all documents in an envelope and mail or overnight the documents to:


Presidential Bank
Trust Custody Department
4600 East West Highway, Suite 400
Bethesda, MD 20814

Updated: 02/16/2022 - MH

Presidential Bank

© 2000-2023 Presidential Bank

 

FundCash® is a product of Presidential Bank, FSB, which does not provide advice about how or whether to invest. Price and yield information available on this site is believed to be accurate but is not guaranteed. All descriptions of loan terms are limited in their entirety by the actual loan documents. All loans are subject to approval. Federal regulations prohibit the reinvestment of loan proceeds in securities. Pledged assets are subject to involuntary sale with risk of loss and possible tax effects. Retirement plans and certain fiduciary accounts are not eligible. Presidential Bank is an equal housing lender.

Member FDIC & EHL

Privacy Policy