Loan Processing Associate I

Windsor Advantage•Chicago, IL

2d•$40,000 - $60,000•Hybrid

About The Position

Windsor Advantage, an affiliate of Capital Bank N.A., is a leading Lender Service Provider (LSP) offering outsourced SBA 7(a) and USDA lending platforms to banks, credit unions, and CDFIs. Since 2010, Windsor has processed over $4.5 billion in government-guaranteed loans and services a portfolio for over 100 lenders nationwide. Capital Bank N.A., headquartered in Maryland, is a publicly traded company with over $3 billion in assets, serving clients in Maryland, DC, and Northern Virginia, and operating national lending brands. The Loan Processing Associate is responsible for providing quality customer service while processing loans through closing. This role involves quarterbacking communication with clients, borrowers, government entities, and third parties, exercising discretion and judgment. The position requires active participation in weekly departmental and pipeline meetings.

Requirements

Bachelor's degree in finance, business administration, or a related field required
1-2 years experience in a role within administration, finance, or a similar industry
Experience managing multiple tasks while delivering the highest levels of customer service with minimal supervision.
Experience with loan processing and loan closings.
Knowledge of commercial loan products and/or basic accounting.
Must have ability to understand all business processes within the bank.
Knowledge of computer systems as they relate to lending activities, including Microsoft Office Suite to include Word, Excel and Outlook is a must.
Must have excellent communication skills, both verbal and written
Excellent interpersonal skills to build strong relationships with borrowers and internal teams.
Must have strong analytical and problem-solving skills to identify and resolve any loan processing issues.
Must demonstrate resourcefulness, strong organization, and meticulous attention to detail, coupled with excellent multitasking abilities and effective prioritization skills

Nice To Haves

Experience with SBA rules/regulations preferred.
A working knowledge of commercial credit principles and pertinent laws is preferred.

Responsibilities

Manages the entire loan application lifecycle, from initial intake to final closing, including collecting and verifying borrower documentation, ensuring completeness, conducting due diligence tasks, and coordinating with Loan Officers and Underwriters.
Maintains meticulous attention to detail to ensure adherence to all SBA regulations, program guidelines, and bank policies throughout the loan process.
Distributes, collects, and reviews loan application processing checklists to obtain SBA Authorization and loan closing.
Exhibits in-depth understanding of SBA rules/regulations and utilizes this knowledge to independently create unique solutions and thoughtful structures.
Acts as a liaison and manages critical relationships with borrowers, financial intermediaries, lenders, Windsor management, and the SBA throughout the loan lifecycle using effective communication with a high attention to detail.
Prepares comprehensive loan packages with all necessary financial documents, business plans, and supporting materials for underwriting review and approval.
Manages and facilitates the loan closing process, ensuring all documents are signed, conditions are met, and funding is disbursed smoothly.
Assists with servicing of funded loans, such as collecting information for ongoing compliance.
Stays updated on current SBA loan programs and industry trends, researching competitor offerings as needed.
Submits 4506-C to the IRS and completes tax verifications upon return.
Orders and reviews any necessary third-party reports as needed.
Effectively manages and interfaces with third-party vendors.
Works with lender and borrower on SBA screen outs and interfaces directly with SBA loan specialist staff.
Prepares and/or reviews SBA authorization once received, depending on processing method, and interfaces with lender’s closing counsel.
Completes special projects as assigned.
Actively contributes to weekly department meetings to identify, discuss, solve, and implement department process improvements.
Adheres specifically to all company policies and procedures, Federal and State regulations, and laws.
Responsible for following regulatory requirements including those pertaining to the Bank Secrecy Act (BSA), Anti-Money Laundering (AML), Customer Identification Program (CIP), and OFAC to assist in the identification, detection, and determent of money laundering or other unlawful activities.
Performs other duties as required.