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 in accordance with MACU, SBA, CFPB, and NCUA rules and regulations. Participates in department administration and throughout the SBA lending cycle. The role coordinates, packages, documents, and funds structured SBA loans, generally involving singular borrowers, few guarantors, and loan balances up to $2 million, with moderate supervision. The specialist works with loan officers, underwriters, borrowers, title and insurance companies, attorneys, the SBA, and other third parties. The role prepares and reviews loan documentation, verifies eligibility and collateral, obtains SBA approvals, maintains loan records, coordinates closing and funding, and follows up on post-closing documentation. It also provides internal and external customer service and supports department goals. The position has no supervisory or managerial responsibilities.

Requirements

One year of loan-closing experience in a progressive financial setting, working in a lending setting.
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 applicable SBA Standard Operating Procedures, MACU policies 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 ability to present information appropriately to key stakeholders and all organizational levels.
Good writing and grammatical skills for preparing memorandums and other written communications.
Unquestioned personal and professional integrity.
Ability to work autonomously and collaboratively in a fast-paced environment.
Organization and time-management skills, self-direction, and ability to manage multiple projects and timelines productively and efficiently.
Ability to adapt positively to changed circumstances or conditions.
Willingness to learn and continually update knowledge of financial concepts, strategies, and systems.
Initiative to solve problems and suggest process and efficiency improvements.
Ability to sit, talk, and hear consistently; stand, walk, and use hands to handle or reach occasionally.
Close vision and distance vision.
Ability to 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.

Responsibilities

Coordinate, package, document, and fund less complex SBA 7(a), Express, and 504 loans, working with internal teams, borrowers, the SBA, and third parties.
Review approved credit memoranda and loan files, prepare closing needs lists, satisfy approval conditions, verify SBA eligibility, and ensure loans are closed and funded according to approvals and MACU policy.
Communicate with commercial title companies to clear exceptions and collateral issues and ensure appropriate lien positions on real estate collateral.
Prepare and file UCC searches and filings to establish appropriate lien positions on UCC collateral.
Coordinate with insurance companies to confirm appropriate loan coverage and SBA insurance requirements are met.
Prepare SBA loan documents and packaging, including obtaining SBA approvals for 7(a) and Express loans 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 memorandums for assigned loans.
Process and review IRS tax transcripts to verify tax filing and borrower eligibility for SBA financing.
Maintain accurate loan file records, including lien perfection, and properly document and maintain loan ticklers.
Stay current on SBA notices, regulations, and program changes affecting loan documentation and collateral perfection.
Follow up on applicable post-closing documentation.
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 professional real estate appraisals for collateral accuracy, including parcel numbers, values, and legal descriptions.
Review lease agreements, subordinations, and landlord consents for accuracy and coordinate with MACU Legal, 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 regarding SBA loans.
Manage up to five loan files at a time and work with teams to achieve monthly, quarterly, and annual goals.
Perform other duties as assigned.