Commercial Loan Underwriting Specialist

2 weeks ago


Lake Success, United States Newtek One Full time

Company Overview: NewtekOne, recognized as Your Business Solutions Company, operates as a financial holding entity. Alongside its banking and non-banking subsidiaries, it delivers a comprehensive suite of business and financial solutions under the Newtek brand, specifically tailored for the small- and medium-sized business ("SMB") sector. Since its inception in 1999, Newtek has been committed to offering cutting-edge, cost-effective products and services, alongside efficient business strategies, to SMBs across all 50 states, aiding them in enhancing sales, managing expenses, and mitigating risks.

Business Solutions Offered: Newtek and its subsidiaries provide a diverse array of business and financial services, including but not limited to: banking (Newtek Bank, N.A.), Business Lending, Electronic Payment Processing, Technology Solutions (Cloud Computing, Data Backup, Storage and Retrieval, IT Consulting), eCommerce, Accounts Receivable Financing & Inventory Financing, Insurance Solutions, Web Services, and Payroll and Benefits Solutions.

Position Overview: Small Business Lending, LLC is seeking a Commercial Credit Underwriter to contribute to its operations.

Key Responsibilities:

  • Evaluate and scrutinize loan application documents for thoroughness, creditworthiness, and regulatory compliance.
  • Draft comprehensive credit memorandums that encompass financial analysis, repayment capacity assessment, industry research and projections, collateral evaluation, management structure analysis, and guarantor assessments.
  • Engage in underwriting discussions with borrowers.
  • Integrate and coordinate third-party reports into the credit evaluation process.
  • Analyze tax returns and tax transcripts as part of the credit due diligence process.
  • Generate approval letters.
  • Review and compile loan modifications as necessary until loan closure.
  • Assess and address credit approval conditions and covenants.
  • Achieve production targets while ensuring quality and compliance standards are met.

Qualifications:

  • A minimum of three (3) years of experience in credit analysis and underwriting of Commercial & Industrial (C&I) and Commercial Real Estate (CRE) loans, with a preference for SBA 7A and/or 504 Credit & Underwriting experience.
  • Completion of a formal bank Credit Training Program or RMA Credit Courses.
  • Proficient in computer applications, particularly Microsoft Office Suite (Word, Excel, Outlook, etc.).
  • Exceptional organizational, verbal, and written communication skills are essential.
  • Strong analytical and decision-making capabilities are required.
  • Ability to foster and maintain effective working relationships both internally and externally.

Education Requirements:

A Bachelor's degree in Finance, Accounting, Mathematics, or Economics is required.

Compensation: Salary range is between $80,000 and $110,000 annually.

Equal Opportunity Employer: NewtekOne is an Equal Opportunity Employer; M/F/D/V. All employees are expected to conduct their work ethically and adhere to the company's Code of Business Conduct and Ethics at all times.



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