SBA Closing Specialist

Ready Capital•New Jersey Remote, NJ

3d•$90,000 - $120,000•Onsite

About The Position

Ready Capital is a leading commercial real estate and small business lender, providing financing solutions nationwide through a broad range of loan products and platforms. We are committed to delivering reliable capital, maintaining strong regulatory standards, and creating a collaborative environment where employees can make a meaningful impact. The Senior Analyst, Loan Closing Specialist plays a critical role in ensuring the accurate and timely closing and funding of SBA and commercial loan transactions. This position is responsible for reviewing and preparing loan closing documentation, performing detailed due diligence, and ensuring compliance with company policies, SBA SOPs, and applicable state and federal regulations. Working closely with borrowers, legal counsel, regulators, and internal partners, the role serves as a central point of coordination throughout the closing process while delivering high‑quality service and maintaining strong file integrity and compliance standards.

Requirements

Minimum of 2 years of commercial mortgage lending experience and/or relevant work experience in a functional role required or equivalent combination of education and experience.
Knowledge of the SBA SOP
Operate standard office equipment/computer.
Proficient in Microsoft Office Suite, working with Word and Excel or similar spreadsheet software.
Type accurately at a speed necessary to meet the requirements of the position.
Organize work, set priorities and exercise sound independent judgment within established guidelines.
Interpret, apply, explain and reach sound decisions.
Ability to maintain files and records.
Ability to prioritize and perform multiple tasks.
Ability to answer loan document related questions from borrowers and referral sources.
Excellent interpersonal skills.
Detail oriented.
Ability to read and comprehend instructions, short correspondence, and memos.
Ability to write basic routine reports and correspondence.
Ability to interact effectively with management, other employees, and customers as needed.
Diplomacy in dealing with internal and external clients.
Excellent communication skills.
Basic credit skills required.
Ability to perform basic calculations such as to add, subtract, multiple, and divide.
Ability to apply common sense understanding to carry out instructions furnished in written, oral, or diagram form.
Ability review information and solve problems quickly.
Strong ability to manage time.
Achievement oriented, takes initiative, and ability to take direction.
Strong organizational skills.

Nice To Haves

Bachelor’s degree preferred.
Paralegal Certificate preferred.

Responsibilities

Review Request for Credit Approval, Write-up and Commitment Letter within 24 hours of receipt of legal file, conduct introductory call to borrower and prepare/send Closing Checklist detailing documentation required for loan closings.
Regularly liaise with federal and state regulators.
Follow up, review and approve all Closing checklist/borrower due diligence items required for loan closing.
Determine what is required to perfect security interest in collateral and decide when loan file is ready to close.
Analyze supporting documents provided by borrowers and third parties to determine if they meet RCL approvals/standards and make decision that loan is thoroughly documented in accordance with RCL and SBA policies and credit approval memorandums.
Ensure all required hazard, contents, liability and/or flood insurance coverage has been obtained on industry required forms naming RCL as mortgagee and/or loss payee.
Maintain excellent level of customer service by being responsive to calls and emails from borrower and inside staff regarding loans in process within 24 hours of receipt.
Order appropriate third-party searches (flood, good standing certificates, UCC, title, judgment and bankruptcy) for all borrowers/guarantors.
Compliant with RCL policies/procedures and have knowledge of SBA SOPs and regulations
Prepare and review all required SBA, legal and state specific documents required for loan closing.
Become an integral part of the SBA Closing Team.
Responsible for following updated SBA policy notifications when issued.
Master RCL’s construction policy, follow guidelines in notifying SBA of any modifications to the construction project such as but not limited to extension of maturity date, increase or decrease to the loan amount.
Responsible for reviewing site inspection reports for accuracy and process of the project as well as relaying any unforeseen issues to credit and management
Manage productivity by ensuring proper communication with borrower, general contractor and vendors to limit 1 to 2 disbursements per month
Act as liaison between Legal Counsel, Escrow, Title, deal team and all interested parties to coordinate document preparation, loan signing, funding, and closing.
Review and approve closing settlement statements, escrow documentation, insurance, and outstanding loan conditions.
Prepare funding information sheets detailing wiring information and use of loan proceeds.
Coordinate with accounting to assure timely release of wires for loan fundings.
Prepare closing packages of documents and ensure legal file is in compliance with RCL policies before transferring for Compliance Review
Provide assistance with portfolio acquisition due diligence
Adhere to turn time requirements.
Additional duties as requested by Closing Manager.