Commercial Loan Processor

3 days ago

Phoenix, United States CivicMinds, Inc Full time

Here are some key aspects of what an SBA Processor does:

  1. Application Review: Evaluates loan applications to ensure they meet SBA requirements and guidelines.
  2. Documentation: Collects and verifies all necessary documentation from the borrower, including financial statements, business plans, and personal information.
  3. Eligibility Determination: Confirms that the applicant is eligible for SBA loan programs based on criteria such as business size, type, and financial health.
  4. Underwriting: Conducts a thorough analysis of the applicant's creditworthiness, including financial risk assessment and repayment ability.
  5. Compliance: Ensures that all processes adhere to SBA regulations and guidelines to maintain program integrity.
  6. Communication: Acts as a liaison between the borrower and the lender, providing updates and requesting additional information as needed.
  7. Approval and Closing: Finalizes the loan approval process and prepares the necessary documents for loan disbursement and closing.

SBA Processors play a crucial role in facilitating access to funding for small businesses, helping them secure the financial resources needed for growth and sustainability.

Position Overview:

The SBA Processor is responsible for the end-to-end processing of Small Business Administration (SBA) loan applications. This role involves reviewing applications, collecting and verifying documentation, and ensuring compliance with SBA guidelines. The ideal candidate will have strong attention to detail, excellent communication skills, and the ability to manage multiple tasks efficiently.

Key Responsibilities:

  • Application Review:
  • Evaluate SBA loan applications to ensure completeness and accuracy.
  • Confirm that applications meet all SBA eligibility requirements.
  • Documentation Management:
  • Collect and verify all necessary documentation from borrowers, including financial statements, business plans, and personal information.
  • Ensure timely and accurate entry of all loan data into the processing system.
  • Eligibility Determination:
  • Assess borrower eligibility based on SBA criteria, including business size, type, and financial health.
  • Conduct preliminary checks on creditworthiness and financial stability.
  • Underwriting Support:
  • Assist the underwriting team by providing necessary documentation and information.
  • Conduct initial risk assessments and analyses to support the underwriting process.
  • Compliance Assurance:
  • Ensure all loan processing activities comply with SBA regulations and internal policies.
  • Maintain up-to-date knowledge of SBA loan program requirements and changes.
  • Communication and Liaison:
  • Serve as the primary point of contact for borrowers during the application process.
  • Provide regular updates to borrowers and respond to inquiries promptly.
  • Coordinate with internal departments, such as underwriting, closing, and legal, to facilitate smooth loan processing.
  • Approval and Closing:
  • Prepare and review loan approval documents.
  • Coordinate the loan closing process, ensuring all conditions are met and documentation is complete.
  • Record Keeping and Reporting:
  • Maintain accurate and organized records of all loan applications and processing activities.
  • Generate reports on loan processing status and performance metrics.


Qualifications:

  • Bachelor’s degree in finance, business administration, or a related field preferred.
  • Minimum of 4 years of experience in loan processing, with SBA loans.
  • Strong knowledge of SBA loan programs and guidelines.
  • Excellent analytical and organizational skills.
  • Proficiency in loan processing software and Microsoft Office Suite.
  • Strong communication and interpersonal skills.
  • Ability to manage multiple tasks and meet deadlines in a fast-paced environment.
  • Attention to detail and a high level of accuracy.

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