SBA Loan Closer
About The Position
The SBA Loan Closer is responsible for preparing legal and credit files, SBA loan application packages, and coordinating with the SBA for loan numbers and authorizations. This role involves evaluating third-party vendor documentation, ensuring timely payment of SBA guarantee fees, and reviewing various legal agreements and financial documents. The position requires meticulous attention to detail in managing the loan closing process, coordinating document execution, and ensuring all documentation conforms to bank and SBA requirements. The SBA Loan Closer will also prepare and coordinate loan funding with Loan Operations and maintain expense logs. A key aspect of this role is the ability to manage multiple projects simultaneously, work efficiently within established timeframes, and maintain effective working relationships. Adherence to federal laws, rules, and regulations, including Anti-Money Laundering (AML) and the Bank Secrecy Act (BSA), is mandatory. The role also includes performing other duties as required.
Requirements
- Excellent communication skills, both written and verbal.
- Excellent customer service skills.
- Excellent organizational, analytical and interpersonal skills.
- Detail-oriented.
- Ability to work and multi-task in a fast-paced environment.
- Ability to use a personal computer and job-related software.
- Knowledge of commercial loan closing requirements and processes with an emphasis on SBA preferred and knowledge of SBA software preferred.
- Paralegal training and/or experience a plus.
Nice To Haves
- Must possess highly developed interpersonal and negotiating skills.
- Must be an effective motivator and communicator with members, prospective members and staff.
- Must have strong analysis and problem-solving skills.
- Strong in-person, verbal, and written communications skills within a collaborative environment.
- Must be a creative thinker and initiative-taking analytical person with a history of working efficiently and effectively, meeting deadlines, and following projects through to completion.
- Knowledge and experience in business loan structuring and loan documentation required.
Responsibilities
- Prepares legal and credit files, SBA loan application packages and obtains all required signatures, prepares, submits and coordinates with SBA the issuance of an SBA loan number and prepares SBA authorization.
- Evaluates third party vendor documentation such as Uniform Commercial Code (UCC) and line and flood searches.
- Ensure payment of SBA guarantee fee in the SBA required time frame.
- Review articles and by-laws as well as partnership and LLC agreements.
- Verifies appropriate lease terms.
- Obtains and reviews escrow instructions (if applicable).
- Gathers final estimates/budgets for construction project and leasehold improvements.
- Ascertains insurance requirements.
- Handles DMV transactions (if applicable).
- Verifies cash injections.
- Verifies eligible funding via joint payee checks on capital expenses.
- Recognizes and proactively resolves potential problems in the loan closing process.
- Prepares documentation request form for submittal to documentation unit or outside Bank counsel and reviews documents upon receipt to insure conformance with Bank and SBA approval and conditions.
- Coordinates and schedules document execution with all parties as appropriate.
- Reviews executed closing documents to ensure all required signature, notaries, and /or witness signatures are properly completed.
- Prepares and coordinates loan funding with Loan Operations.
- Opens title and orders preliminary title report, as appropriate.
- Maintains expense log for each loan and reconciles with deposit received by Bank.
- Ability to effectively supervise and coordinate multiple projects simultaneously, managing time and resources to ensure work is completed efficiently and within established timeframes.
- Computer literate; fluency in Microsoft Office programs and Excel.
- Ability to establish and maintain effective work relationships both internally and externally.
- Adheres to applicable federal laws, rules, and regulations including those related to Anti-Money Laundering (AML) and the Bank Secrecy Act (BSA).
- Performs other duties as required or assigned which are reasonably within the scope of the duties in this job classification.
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What This Job Offers
Job Type
Full-time
Career Level
Mid Level
Education Level
No Education Listed
