SBA Closing Specialist

Lenders Cooperative•Birmingham, AL

1d•Remote

About The Position

Lenders Cooperative is seeking an SBA Closing Specialist to assist lenders by preparing and reviewing loan closing documentation for compliance with SBA 7(a) guidelines, policies, procedures, and lender standards. The role verifies that loan approval conditions have been met, coordinates with borrowers and third parties, and ensures closing packages are accurate and complete. Success requires attention to detail, strong organizational skills, and knowledge of the SBA 7(a) program. The specialist prepares and organizes loan documentation, reviews borrower information and supporting materials, manages closing timelines, and coordinates with lenders, borrowers, third parties, and underwriters. The role also conducts or reviews compliance checks, maintains loan records, supports post-closing transitions, identifies process improvements, and mentors new team members.

Requirements

Bachelor’s degree in business, finance, or a related field, or relevant work experience.
Minimum 2–4 years of experience in SBA loan closing or commercial lending.
In-depth knowledge of SBA 7(a) loan program guidelines and regulations, including SOP 50 10.
Strong understanding of loan documentation, closing procedures, and legal terms.
Excellent attention to detail and accuracy in document preparation and review.
Strong organizational skills and ability to manage multiple priorities and deadlines.
Excellent communication and interpersonal skills for collaboration with clients, lenders, and third-party vendors.
Ability to work independently and as part of a team in a fast-paced environment.
Strong problem-solving skills and ability to resolve issues promptly.
Knowledge of legal and regulatory requirements related to loan closings.

Nice To Haves

Experience with SBA loan processing software and document management systems.

Responsibilities

Prepare and review SBA loan closing documents for compliance with SBA guidelines and lender requirements.
Compile and organize loan application documents, including financial statements, tax returns, and personal financial statements, into complete loan packages for SBA submission and review.
Identify documentation gaps or inconsistencies and ensure loan packages meet SBA standards.
Coordinate with borrowers, lenders, and third parties such as title companies and attorneys; provide updates, answer questions, and coordinate documentation throughout the loan process.
Analyze borrower information and supporting documents, including purchase agreements, budgets, and FF&E costs, to validate the loan purpose and sources and uses of funds.
Track loan status, follow up with internal and external parties, manage closing timelines, confirm closing conditions are satisfied, and coordinate final documents for borrower signatures.
Perform or review compliance checks, including CAIVRS checks for federal debt delinquencies and SAM.gov reports for debarment status.
Collaborate with underwriters on pre-closing requirements, additional documentation requests, and other issues to maintain compliance with SBA and lender policies.
Maintain organized, complete loan files and accurately record and retain closing and processing documentation.
Assist with post-closing procedures, including submitting final disbursement documentation and transitioning documents to loan servicing.
Identify opportunities to improve the efficiency and accuracy of loan processing, packaging, and closing procedures, and provide feedback to management.
Mentor new team members on SBA requirements, documentation standards, and loan processing and closing practices.