SBA Loan Closer

ConnectOne Bank•Nanuet, NY

just now•Hybrid

About The Position

The SBA Loan Closer will support the Banks SBA program by handling the necessary transactions needed to close and book approved SBA loans in accordance with the Bank’s policies and procedures, the SBA SOP and the SBA Loan Authorization.

Requirements

Knowledge of SBA loan closing and documentation procedures
Knowledge of commercial loan documentation procedures, title policies, appraisals, environmental assessments and entity formation documents
Knowledge of various federal regulations including Bank Secrecy Act, Community Reinvestment Act, Americans with Disabilities Act, Right to Financial Privacy Act, Gramm-Leach-Bliley Act, Regulation E and US PATRIOT Act.
Knowledge of processing underwriting and/or closing procedures/federal lending regulations governing real estate lending.
Excellent communications, planning, customer service, organization and interpersonal skills to deal effectively with customers, bank attorneys and bank personnel.
Thorough understanding of SBA Standard Operating Procedure.
Five plus years of experience as SBA Loan Closer.

Nice To Haves

Experience closing SBA 7a Loans nationwide.
Paralegal Certificate or 2 year Associate Degree in Paralegal Studies

Responsibilities

Support the Bank’s “client first” focus and rules of engagement—maintaining a professional demeanor, working as an active member of the CNOB team, providing clients excellent service, always striving to make CNOB “A Better Place to Be”
Administer loans from origination through settlement and full funding in accordance with Bank policies, procedures, the SBA SOP, the SBA Loan Authorization and other pertinent regulatory requirements.
Analyze internal bank loan approvals to determine required due diligence and documentation for each loan transaction
Collect, audit, and examine all documents essential for loan closing, not limited to tracking, engaging and confirming compliance of all third-party reports, e.g., real estate appraisals, environmental reports, business valuations, franchise reports and agreements, flood certification and UCC searches, filings, title reports, etc.
Ensure all collateral evaluations are ordered and reviewing of same to clear issues
Review and ensure all required insurance, including flood, is sufficient and in compliance with regulations
Prepare internal pre-closing and post-closing checklist
Package application information to prepare SBA Loan Submission to obtain SBA loan approval
Track and fund Guarantee Fee to meet SBA requirements
Act as liaison with lender, bank counsel and title companies
Review loan documentation to ensure compliance with loan approval and policy and ensure that all standard provisions are included and are not compromised
Coordinate receipt of closing requirements with internal departments, lender, bank counsel, borrower, and borrower’s counsel
Confirm that all conditions within the approval have been met and scheduling closing
Account for all fees and charges due within each loan file to minimize loss or missed fee reimbursement.
Prepare booking sheet and reviewing loan after it is booked into the system of record
Ensure that all loans are closed without material, administrative or compliance exceptions
Follow up and clearing loan documentation exceptions, approved post-closing documentation, and filed and recorded documents.
Maintain pipeline and process approved loans in a timely manner
Ensure that all communications with clients are positive. Escalate any issues as needed to the appropriate party and taking ownership and following up as necessary until conclusion.
Process and review administrative actions for existing loans including loan modifications, collateral changes, and E-Tran updates.
Assist with multi-disbursement loan advances, obtain all supporting documentation necessary to maintain SBA compliance with disbursements, and process disbursements of loan proceeds

Benefits

World class health, vision, and dental benefits on day one
401k with employer match
Hybrid work from home (depending on role)
Employee appreciation events (team building, softball games, food truck days, etc..)
Employee assistance programs (EAP)
Wellness programs (flu shot, preventive care, health programs and services discounts, etc..)
Tuition reimbursement
Employee Discount perks
CNOB Community Service Events
….and much, much more!