Loan Processor

About the Job

LoanBud is continuing to grow, and we have an exciting opportunity for the right candidate to join a great team in Orangeburg, SC Join us in the pursuit of our mission to help small businesses get the financing they need to succeed, and enjoy a career filled with professional growth opportunities, team-oriented colleagues, and the satisfaction of supporting small businesses.

We appreciate our employees and in order to continue serving our customers at the highest level, we continue to strive to become "the place to work".

We are looking for a Loan Documentation Specialist to assist LoanBud Business Lending Officers and borrowers process and close SBA and other commercial loans. Do you have banking, loan processing or loan review experience, do you enjoy helping people meet their financial goals, do you have attention to detail and excel in process workflow? This may be the perfect job for you, and we encourage you to apply

Compensation for this position is an hourly base wage plus commission. Wage placement based on qualifications and direct experience for this position.

About LoanBud

We Offer Great Benefits

• We offer solid benefits, including medical, dental & vision and a generous 401(k) match. We take care of our employees
• The wisest investment we make is in our employees. We support them with professional development resources and opportunities for advancement.
• At LoanBud, we believe in work-life balance. With an extensive holiday and PTO plan, there's always something to look forward to.
• We offer a supportive and flexible work environment. We treat our employees like humans, not robots. You deserve respect, empathy, and trust, and that's what you'll get as a member of our LoanBud team.

Summary Of Job Duties Of This Position

This position assists customers, lenders, and lending officers with the processing and closing of SBA and other commercial loans. Their responsibilities include interfacing with borrowers and referral partners from loan submission to funding, collecting and reviewing documentation per program requirements, coordinating and processing loans in accordance with lender guidelines, ordering and collecting 3rd party reports.

Essential Duties And Responsibilities

• Collaborates with internal staff including Business Lending Officers to process and close loans in a timely manner.
• Reviews the loan file and prepares a list of items required to close and fund the loan.
• Communicates the requirements and loan status clearly and concisely.
• Prepares loans for submission in accordance with lender guidelines and requirements.
• Calculates business and/or global debt service coverage ratios.
• Opens Title and orders preliminary title reports as required; reviews title reports and make changes as necessary.
• Reviews and accepts entity documentation such as articles, by-laws as well as partnership and LLC documents.
• Ensures compliance and adherence to SBA Standard Operating Procedures (SOP) and lender credit policy.
• Determines insurance requirements and obtains hazard/flood/liability insurance as required.
• Reviews loan applications and determines initial eligibility.
• Prepares and completes loan document requests; ensure that loans are documented correctly to ensure conformance with lender approvals and conditions.
• Coordinates closings with borrowers, referral partners and business lending officers.
• Maintains accurate pipeline reports; meets monthly loan closing and loans in pipeline goals.
• Perform other duties as assigned.

What We Look For In a Loan Documentation Specialist

• Deadline Oriented – the individual acts with a sense of urgency to prioritize and hit required deadlines.
• Analytical - the individual synthesizes complex or diverse information.
• Problem-solving - the individual identifies and resolves problems on time and gathers and analyzes information skillfully.
• Communication - the individual speaks and writes clearly and persuasively in positive and negative situations, demonstrates excellence in telephone etiquette, customer service, and business communication skills.
• Leadership - the individual inspires and motivates others to perform well, accepts feedback from others.
• Quality management - the individual looks for ways to improve and promote quality and demonstrates accuracy and thoroughness, including the ability to proofread documents for accuracy.
• Judgment - the individual displays willingness to make decisions, exhibits sound and accurate judgment, and makes timely decisions.
• Planning/organizing - the individual prioritizes and plans work activities, uses time efficiently, and develops realistic action plans.
• Safety and security - the individual observes safety and security procedures and uses data and materials properly.

Preferred Requirements

• Associates degree or higher
• Four years' experience in loan processing or four years of combined professional experience and education in a related field
• Knowledge of lending policies and procedures
• Proficient use and understanding of MS Office products (Word, Excel, Outlook)

AAP/EEO Statement

LoanBud values their employees and provides equal employment opportunities to all individuals regardless of their race, color, creed, religion, gender, age, sexual orientation, national origin, disability, veteran status, or any other characteristic protected by state, federal, or local law.