SBA Loan Processor II

POSITION SUMMARY

Provides full administrative support to Small Business Administration (SBA) Account Executives and Business Development Officers (BDO) and serves as a liaison between the SBA Account Executive/BDO and the member to maintain and build the member relationship. Maintains SBA commercial loan, deposit, and services files according to credit union policies, procedures, and state and federal regulations. Serves as a positive mentor/trainer for other SBA lending positions.

ESSENTIAL DUTIES AND RESPONSIBILITIES

•Functions as the primary contact for SBA loan processing. Provides assistance to SBA commercial members in all areas of the member relationship with Magnifi Financial including loans, deposits, and other credit union services.

•Effectively answers questions, communicates status updates and documentation requirements in the origination of SBA loans to applicants, Magnifi Financial staff, Ultum Clients and SBA.

•Assists the credit underwriting team with SBA questions to ensure the adequate completion of SBA Eligible Credit Presentations.

•Properly documents loan application file progress using assigned checklists.

•Responsible for third party engagements and fee collection.

•Reviews SBA application documentation, leases, title commitments, organizational documents, environmental reports, appraisals, franchise documents, IRS verification, and insurance to ensure SBA eligibility and compliance.

•Maintains a significant level of knowledge and understanding of SBA loan documentation, credit policy, and state and federal regulations.

•Responsible for the collection and securing of applicant equity injection.

•Assists with input into the SBA's loan application system.

•Assists Doc Prep staff with SBA questions to ensure the correct creation of SBA specific documents, as well as reviewing the loan documents to ensure they are prepared accurately.

•Assists with covenant monitoring and notifies SBA Servicing Department of violations.

•Perfects liens via recording mortgages and fixture filings and filing for lien holder status on titles.

•Assists SBA Loan Servicing staff with documentation relative to loan disbursements, subordinations, partial releases, satisfactions, and fee reversals.

•Provides back-up support for SBA loan disbursing.

•Serves as a subject matter expert for SBA. Shares knowledge in order to train other SBA lending staff and is a resource for questions. Reviews loan files of other SBA Loan Processor I's.

•Responsible for scanning/indexing commercial loan documentation to Magnifi Financial imaging platform.

•Responsible for providing commercial loan documentation to Ultum clients.

•Understands and keeps updated on SBA program rules, commercial loan documentation, credit policy and state and federal regulations.

•Assists Government Guaranteed Loan Program Manager with tasks relative to SBA lending.

•Works with the SBA Account Executive, BDO and the construction team, as appropriate, to monitor construction loan process. This includes following procedures to disburse funds to appropriate parties, collecting lien waivers, and taking pictures of construction projects as requested.

•Uses the sales process to identify and recommend products and services to members based on financial need, when appropriate. Makes referrals to appropriate departments.

•Monitors lending reports and ticklers to assure that proper documentation is included and up to date.

•Suggests, and helps implement, process improvements to improve departmental efficiencies.

•Actively participates in community relations efforts to contribute to the mission and visibility of Magnifi Financial and Ultum Group.

EDUCATION AND EXPERIENCE

•Two-year degree in a business-related field plus five years' experience in commercial banking and three years SBA experience.

The Benefits

We are committed to investing in our team Magnifi Financial offers benefits that help everyone achieve their full potential. Full-time employees are eligible for the following benefits (benefits with an asterisk are also available to eligible part-time positions):

• Opportunities for Training and Development *
• Leadership Development *
• Job Level Advancement (ability to move up in your position through training and development) *
• Tuition Reimbursement *
• 32 Hours Volunteer Paid Time Off *
• Paid Time Off - Begins accruing upon date of hire for a total of 4 weeks per year for FT; prorated for PT *
• Medical
• Dental
• Vision
• Employer paid Life Insurance/AD&D
• Employer paid Disability Insurance
• Retirement Plan - Employer match up to 4%, eligible for annual profit sharing *
• Paid Parental Leave
• Bonus/Incentive Program
• Employee Engagement/Health and Wellness Programs *

Who We Are:

At Magnifi Financial, we offer a collaborative, friendly environment where we support our employee's growth and development, and create a positive work atmosphere.As a member-owned organization, we are focused on making dreams come true for our members. Our vision is enhancing the lives of members and community through strength, service and growth. Magnifi Financial has grown to more than 85,000 members, $2.4 billion in assets, over 400 employees, and over 25 branch locations throughout Minnesota. But what hasn't changed is our focus on the members and communities we serve.

Equal Opportunity Employer/Protected Veterans/Individuals with Disabilities

The contractor will not discharge or in any other manner discriminate against employees or applicants because they have inquired about, discussed, or disclosed their own pay or the pay of another employee or applicant. However, employees who have access to the compensation information of other employees or applicants as a part of their essential job functions cannot disclose the pay of other employees or applicants to individuals who do not otherwise have access to compensation information, unless the disclosure is (a) in response to a formal complaint or charge, (b) in furtherance of an investigation, proceeding, hearing, or action, including an investigation conducted by the employer, or (c) consistent with the contractor's legal duty to furnish information. 41 CFR 60-1.35(c)

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