SBA & USDA Closing Specialist

Centennial Bank • Tampa, FL

453d

About The Position

The SBA & USDA Closing Specialist is responsible for managing all aspects of SBA and USDA loan closings, including processing draw requests and ensuring compliance with loan documentation. This role requires a thorough understanding of loan processing, attention to detail, and effective communication with borrowers, loan officers, and other stakeholders.

Requirements

• Broad knowledge of accounting, marketing, business administration, finance, etc.
• Equivalent to a four-year college degree plus 3 years related experience and/or training, or equivalent combination of education and experience.
• Ability to read, analyze, and understand general business/company related articles and professional journals.
• Ability to speak effectively before groups of customers or employees.
• Ability to write reports, business correspondence, and policy/procedure manuals.
• Ability to effectively present information and respond to questions from groups of managers, clients, customers, and the general public.
• Ability to calculate figures and amounts such as discounts, interest, commissions, proportions, percentages, area, circumference, and volume.
• Ability to define problems, collect data, establish facts, and draw valid conclusions.

Nice To Haves

• Experience and knowledge of SBA Loan Documentation/Closing (7a and 504 loans)
• Knowledge of USDA and SBA products
• Experience with commercial real estate
• Excellent organizational skills with the ability to handle multiple priorities
• Knowledge/experience with SBA One/E-Tran/SBA Wizard system
• Knowledge of the current/most recent SBA SOP

Responsibilities

• Review the Credit Memo/LOM for accuracy and any changes needed.
• Prepare the closing checklist for the borrower &/or loan officer.
• Notate any 'exceptions' on the LOM.
• Enter the loan/package into SBA One/ETran/Wizard to obtain the SBA Authorization.
• Send 327 Action Notices for any changes/addendums to the SBA Authorization.
• Review the loan application and supporting documentation, request updated documents if needed.
• Send updated documents to the credit analyst to update the file/credit memo &/or addendum.
• Engage Closing Attorney &/or Title Agent if real estate is included.
• Order appraisal through RIMS, Environmental, Survey, Title.
• Review the Commitment Letter/Conditions for accuracy.
• Review the Credit Memo and updated Conditions, add to closing process.
• Work directly with the borrower, guarantors, and loan officers to keep them updated.
• Schedule the loan closing including the loan officer.
• Research UCCs, Liens, etc. and verify with closing attorney.
• Clear any 912 issues, liens, UCCs to ensure First lien position on business assets.
• Collect all supporting documentation from the borrower/guarantors and scan file into OnBase.
• Verify Cash Injection or equity injection.
• Order appraisal on personally owned properties offered as collateral and monitor Construction projects.
• Complete required BSA/AML training and other compliance training as assigned.
• Ensure Loan Covenants are included in the Loan Agreement per the Credit Memo/Conditions.
• Maintain GL Account (SBA Pass-thru), originate or approve wires for closings/draws.
• Engage site inspection vendor/provider as needed for draw requests.
• Audit cashier checks and keep log.
• Keep up to date on WSJ Prime/rate changes and update the Credit Memo & SBA Authorization.
• Perform any other related duties as required or assigned.

Benefits

• Equal Opportunity Employer
• Protected Veterans
• Individuals with Disabilities

What This Job Offers

• Job Type: Full-time
• Industry: Credit Intermediation and Related Activities
• Education Level: Bachelor's degree