Commercial Loan Underwriting Specialist
2 weeks ago
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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