Loan Processing Associate

Windsor Advantage • Chicago, IL

20h • Hybrid

About The Position

The Loan Processing Associate facilitates the processing and administration of Small Business Administration (SBA) loans. The role manages loan applications, ensures compliance with SBA regulations, and provides customer service to clients throughout the loan process. Responsibilities span application intake through closing, including collecting and verifying documentation, conducting due diligence, preparing loan packages, coordinating with loan officers and underwriters, and facilitating closing and funding. The associate also assists with servicing funded loans and maintains relationships with borrowers, lenders, financial intermediaries, Windsor management, vendors, and SBA staff.

This is a hybrid role, expected to work in the office Monday, Wednesday, and Thursday, and remotely Tuesday and Friday. The base salary range is $45,000–$60,000 annually, with a yearly target bonus based on individual performance. Final salary placement depends on factors including location, experience, skills, education, and qualifications.

Requirements

• Bachelor's degree in finance, business administration, or a related field.
• 1–2 years of experience in administration, finance, or a similar industry.
• Experience managing multiple tasks while delivering high levels of customer service with minimal supervision.
• Experience with loan processing and loan closings.
• Knowledge of commercial loan products and/or basic accounting.
• Ability to understand business processes within a bank.
• Proficiency with computer systems used in lending activities, including Microsoft Word, Excel, and Outlook.
• Excellent verbal and written communication skills.
• Strong interpersonal skills to build relationships with borrowers and internal teams.
• Strong analytical and problem-solving skills.
• Resourcefulness, strong organization, meticulous attention to detail, multitasking ability, and effective prioritization skills.

Nice To Haves

• Experience with SBA rules and regulations.
• Working knowledge of commercial credit principles and pertinent laws.

Responsibilities

• Manage the loan application lifecycle from initial intake to final closing, including collecting and verifying borrower documentation, confirming completeness, conducting due diligence, and coordinating with loan officers and underwriters.
• Ensure adherence to SBA regulations, program guidelines, and bank policies throughout the loan process.
• Distribute, collect, and review loan application processing checklists to obtain SBA authorization and complete loan closing.
• Apply knowledge of SBA rules and regulations to develop solutions and thoughtful loan structures.
• Manage relationships and communicate with borrowers, financial intermediaries, lenders, Windsor management, and the SBA throughout the loan lifecycle.
• Prepare comprehensive loan packages, including financial documents, business plans, and supporting materials, for underwriting review and approval.
• Manage and facilitate loan closings, ensuring documents are signed, conditions are met, and funding is disbursed.
• Assist with servicing funded loans, including collecting information for ongoing compliance.
• Stay updated on SBA loan programs and industry trends, and research competitor offerings as needed.
• Submit Form 4506-C to the IRS and complete tax verifications upon return.
• Order and review necessary third-party reports and manage interactions with third-party vendors.
• Work with lenders and borrowers on SBA screen-outs.
• Interface directly with SBA loan specialist staff.
• Prepare and/or review SBA authorizations once received, depending on processing method, and interface with lender closing counsel.
• Complete special projects as assigned.
• Contribute to weekly department meetings to identify, discuss, solve, and implement process improvements.
• Follow company policies and procedures and applicable federal and state regulations and laws.
• Follow regulatory requirements related to BSA, AML, CIP, and OFAC to assist in identifying, detecting, and deterring money laundering and other unlawful activities.
• Perform other duties as required.

Benefits

• Comprehensive benefits package including medical, dental, vision, company-paid life insurance, disability insurance, and more.
• Company contributions to a 401(k), regardless of employee contribution.
• Paid parental leave.
• Employee Recognition Program.
• Leadership Program.
• Tuition reimbursement program.
• Employee bank checking account.
• Generous paid time off.
• Paid holidays.
• Paid charity hours to support volunteer opportunities.
• Yearly target bonus based on individual performance.

What This Job Offers

• Job Type: Full-time
• Career Level: Entry Level