SBA Closing Specialist

Mountain America Credit Union•Sandy, UT

About The Position

Manages closing processes for less complex SBA 7(a), 504, and Express loans, generally involving simpler borrower structures and loan balances up to $2 million. The specialist participates in department administration and across the SBA lending cycle, working with loan officers, underwriters, borrowers, title and insurance companies, attorneys, the SBA, and other third parties. The role ensures loans are eligible, properly documented, closed, and funded in accordance with SBA procedures, MACU policy, and applicable CFPB and NCUA rules and regulations. The position includes preparing and reviewing loan documentation and SBA packages, obtaining required SBA approvals through ETran, addressing collateral and lien matters, maintaining accurate loan files, and handling closing and funding activities. The specialist manages up to five loan files at a time, provides internal and external customer service, and works with teams to meet organizational goals. This position has no supervisory or managerial responsibilities and is performed in a typical business-office environment with moderate noise.

Requirements

One year of loan-closing experience in a progressive financial setting, working in a lending setting.
A two-year college degree or equivalent experience.
Must qualify for access to SBA systems and not be listed on any SAM search or SBA debarment lists.
Knowledge of SBA eligibility requirements and loan documentation processes, including compliance with SBA Standard Operating Procedures, MACU policy and standards, and CFPB and NCUA rules and regulations.
Ability to stay current on SBA regulations, notices, and program changes affecting loan documentation and collateral perfection.
Intermediate skills with Microsoft Office Suite, including Outlook, Word, and Excel.
Good oral communication skills and the ability to present information appropriately to key stakeholders and all levels of the organization.
Good writing and grammatical skills for preparing memoranda and other written communications.
Unquestioned personal and professional integrity.
Ability to work autonomously and collaboratively in a fast-paced environment.
Good organization and time-management skills, with the ability to work efficiently across multiple projects and timelines.
Adaptability to changing circumstances and conditions.
Willingness to learn and continually update knowledge of financial concepts, strategies, and systems.
Initiative, problem-solving ability, and willingness to suggest process and efficiency improvements.
Ability to sit, talk, and hear consistently; stand, walk, and use hands to handle or reach occasionally; see clearly at close and distance ranges; and lift up to 10 pounds occasionally.

Nice To Haves

Experience with financial reporting or tax analysis software.
Experience with SBA ETran.
Experience with core banking systems.
General understanding of business and personal tax returns, Schedule K-1s, financial statements, and rent rolls.

Responsibilities

Coordinate, package, document, and fund less complex SBA 7(a), Express, and 504 loans with loan officers, underwriters, borrowers, and third parties.
Review approved credit memoranda and loan files, prepare closing needs lists, meet loan approval conditions, verify SBA eligibility, and ensure loans close and fund according to approval documents and MACU policy.
Communicate with commercial title companies to resolve title exceptions and collateral issues and establish appropriate real estate lien positions.
Prepare and file UCC searches and filings to establish appropriate lien positions on UCC collateral.
Coordinate with insurance companies to ensure appropriate loan coverage and compliance with SBA insurance requirements.
Prepare SBA-required loan documents and perform SBA loan packaging duties, including obtaining 7(a) and Express approvals through ETran and clearing SBA hold codes.
Prepare loan documents, including trust deeds, notes, borrower certifications, beneficial ownership documents, borrower resolutions, loan-specific documents, and required SBA forms.
Prepare loan memoranda for assigned loans.
Process and review IRS tax transcripts to verify filing accuracy and borrower eligibility for SBA financing.
Maintain accurate loan-file records, including lien-perfection records, and properly document and maintain loan ticklers.
Stay current on SBA regulations, notices, and program changes that affect loan documentation and collateral perfection.
Follow up on post-closing documentation when applicable.
Review and board loans, request wires, approve other closing specialists' wires, and fund SBA loans.
Prepare assigned origination and closing reports in a timely and efficient manner.
Review real estate appraisals for collateral accuracy, including parcel numbers, values, and legal descriptions.
Review lease agreements, subordinations, and landlord consents and coordinate with the MACU Legal Team, borrowers, and landlords to meet SBA eligibility requirements.
Maintain regular communication throughout origination with loan officers, underwriters, management, members, and third parties.
Provide superior internal and external customer service related to SBA loans.
Manage up to five loan files at a time and collaborate with teams to achieve monthly, quarterly, and annual goals.
Perform other duties as assigned.