SBA Loan Processor

LED FastStart•Terrytown, LA

About The Position

The SBA Loan Processor ensures the smooth and efficient processing of SBA and USDA loans. The role coordinates and manages all aspects of the loan process, supports loan officers through closing, and serves as a primary point of contact for borrowers and other stakeholders. The Processor reviews applications and supporting documentation, conducts due diligence, maintains accurate loan records, and ensures compliance with SBA requirements and internal policies. The role also supports the closing and post-closing process, including reviewing closing documents, confirming funding conditions, coordinating with internal teams and external parties, and obtaining required collateral evidence. The Processor provides responsive customer service, manages multiple applications and deadlines, and develops expertise with SPARK SBA loan origination software.

Requirements

High school diploma or equivalent.
At least 2 years of experience in SBA loan processing.
Knowledge of SBA/USDA loans and lending practices.
Thorough understanding of lending requirements.
Understanding of financial statement and cash flow analysis and financial ratios.
Ability to read, analyze, and interpret financial statements and legal documents.
Knowledge of accounting principles and practices.
Knowledge of banking regulations and operations.
Knowledge of appropriate loan structure and risk ratings.
Detail-oriented, with strong organizational, critical-thinking, analytical, and problem-solving skills.
Exceptional verbal, written, and interpersonal communication skills.
Ability to work independently while maintaining a strong commitment to teamwork.
Excellent time-management skills and ability to handle multiple priorities and projects within required deadlines.
Ability to follow directions, understand new training material, and apply it to credit packages.
Self-directed and motivated, with the ability to work independently with little to no supervision.

Nice To Haves

Bachelor's degree in Business, with a major in Finance or Accounting.
Experience with SPARK loan software.

Responsibilities

Maintain a working knowledge of the most recent SBA Standard Operating Procedures.
Act as the primary point of contact for borrowers, loan officers, and other stakeholders involved in the loan process.
Receive and review SBA loan applications to confirm required information and documentation are complete.
Verify the accuracy and authenticity of borrower documents, including financial statements, tax returns, business plans, and other relevant information.
Contact borrowers to obtain missing information, clarify details, and address questions about the application process.
Pull and review OFAC checks, Flood Determinations, UCC filings, Secretary of State records, and other required due diligence items.
Work with loan officers, underwriters, closers, and other parties to resolve issues and gather necessary information.
Keep borrowers informed about the status of their applications during processing.
Facilitate ordering appraisals and other collateral-related documentation required for loan approval.
Enter, review, and update loan information in the loan management system, ensuring accuracy and completeness.
Review loan files for accuracy, completeness, and compliance with SBA guidelines and internal policies.
Prioritize and manage multiple loan applications to meet deadlines and service level agreements.
Provide administrative support for loan audits or reviews as needed.
Ensure adherence to SBA regulations and guidelines throughout the loan process.
Provide exceptional customer service to borrowers.
Develop and maintain expertise with SPARK SBA loan origination software.
Identify and escalate potential SBA eligibility or policy compliance issues through review of borrower documentation.
Serve as the primary point of contact throughout the loan closing process.
Review closing documentation for consistency with credit approvals, SBA requirements, and loan authorizations.
Verify that all funding conditions and required contributions have been satisfied before disbursement.
Coordinate post-closing activities with Loan Operations and BDOs, including obtaining recorded documents, title updates, insurance documentation, and other required collateral evidence.
Coordinate with title companies, attorneys, and internal closing teams by providing required documentation, payoff information, and settlement-related items.
Consistently support the Bank and its core values and follow all policies and procedures.
Perform additional duties as assigned by a supervisor.