Administrator of Construction Loans

2 weeks ago


Great Neck, New York, United States Newtek One Full time
Job Description

NewtekOne, recognized as Your Business Solutions Company, operates as a financial holding entity that, alongside its banking and non-banking subsidiaries, delivers a comprehensive array of business and financial solutions under the Newtek brand to the small- and medium-sized business ("SMB") sector. Since its inception in 1999, Newtek has been committed to offering innovative, cost-effective products and services, as well as effective business strategies to SMB clients across all 50 states, aiding them in enhancing their sales, managing their expenses, and mitigating their risks.

The portfolio of business and financial solutions provided by Newtek and its subsidiaries encompasses: banking (Newtek Bank, N.A.), Business Lending, Electronic Payment Processing, Technology Solutions (including Cloud Computing, Data Backup, Storage and Retrieval, IT Consulting), eCommerce, Accounts Receivable Financing & Inventory Financing, Insurance Solutions, Web Services, and Payroll and Benefits Solutions.

Small Business Lending LLC is currently seeking a Construction Loan Administrator.

The Construction Loan Administrator is responsible for overseeing the Construction Administration of multi-disbursement loans related to various construction projects, renovations, tenant improvements, rehabilitation, or similar activities.

Key Responsibilities:

  • Conduct project and budget reviews, assist in the pre-closing process, and support closers throughout the closing process while managing the construction administration until project completion.
  • Facilitate the processing of loan advances and interest reserve payments.
  • Monitor and administer construction projects associated with SBA 7(a), SBA 504, and conventional loans.
  • Coordinate all site inspections related to loan draws for construction loans.
  • Track budgets and draws using Excel workbooks, adhering to the requirements outlined in loan approvals, loan documents, and construction contracts (if applicable).
  • Thoroughly review draw requests to identify potential budget discrepancies and escalate any imbalances to supervisors.
  • Examine inspection reports and draw documents for accuracy and compliance with the budget, loan approval, and Loan Agreement.
  • Secure necessary approvals for all draws through appropriate channels.
  • Maintain updated ledgers, budgets, and funding logs.
  • Familiarize oneself with construction documents.
  • Identify and escalate issues that deviate from documentation and address questions regarding all aforementioned tasks.
  • Assist in structuring loans and the closing process.
  • Communicate effectively with Borrowers, Contractors, and internal personnel.

Required Knowledge, Skills & Abilities:

  • A minimum of 5 years of relevant experience in banking, construction, real estate, legal, or accounting is preferred.
  • Proficiency in Microsoft Office Suite (Excel, Word, and Outlook).
  • Exceptional verbal and written communication skills.
  • Strong attention to detail and organizational capabilities, with the ability to manage multiple tasks and time effectively.
  • Deliver outstanding customer service to both internal and external clients.
  • Adhere to established schedules.
  • Exhibit sound judgment and excellent independent decision-making skills.

Education & Certification Requirements:

  • Must be at least 18 years of age.
  • High school diploma or equivalent is required.
  • Willingness to undergo a background investigation as part of the selection process.

Salary Range: $45,000 to $60,000 per year

NewtekOne is an Equal Opportunity Employer; M/F/D/V. We require all employees to conduct their work ethically and uphold our Code of Business Conduct and Ethics at all times.



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