SBA Loan Underwriting Specialist

3 days ago


Oswego, Illinois, United States Servbank Full time
About the Role:
Servbank is seeking a highly skilled Senior Underwriter with expertise in evaluating and underwriting loan applications for our dynamic team. As an SBA Loan Underwriting Specialist, you will be responsible for conducting thorough financial analysis, reviewing credit reports, and ensuring compliance with SBA guidelines and Servbank's policies.

Key Responsibilities:
• Assess and underwrite 504 and 7(a) loan applications by performing detailed financial analysis, including cash flow analysis, collateral evaluation, and risk assessment.
• Conduct thorough due diligence on borrowers by reviewing credit reports, financial statements, tax returns, and other pertinent documents to ensure completeness and accuracy.
• Ensure all loan packages comply with SBA guidelines, Servbank's policies, and relevant regulations. Stay updated on any changes in SBA loan programs and incorporate them into the underwriting process.
• Prepare clear, concise, and comprehensive credit memorandums summarizing the creditworthiness of applicants and making informed recommendations for loan approval.
• Work closely with account managers, credit analysts, and other team members to streamline the loan approval process and address any issues or concerns identified during the underwriting process.
• Identify and mitigate potential risks associated with loan applications, and propose strategies to minimize these risks while meeting Servbank's lending objectives.
• Maintain effective communication with borrowers, providing them with necessary information and guidance throughout the loan approval process to ensure a positive customer experience.

Requirements:
• Minimum of 5 years of experience in underwriting SBA 504 and 7(a) loans.
• In-depth understanding of SBA lending programs, guidelines, and compliance requirements.
• Strong analytical skills with the ability to interpret financial statements, assess credit risk, and make sound underwriting decisions.
• Exceptional attention to detail to ensure accuracy and thoroughness in loan evaluations and documentation.
• Excellent written and verbal communication skills to clearly articulate underwriting findings and recommendations.
• Ability to work collaboratively within a team and maintain effective relationships with internal and external stakeholders.
Estimated Salary: $80,000 - $120,000 per year.

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