This position is responsible for origination and underwriting of business loans. The Loan Officer (LO) underwrites and processes small business loan requests; works closely with staff to meet loan and portfolio management metrics, and lending department objectives related to impact and portfolio quality. Provide efficient and high-quality risk assessment that enables the lending department to meet loan production and portfolio management objectives:
ESSENTIAL DUTIES AND RESPONSIBILITIES
Oversee a loan portfolio of loans in the $5 Million to $15 Million dollars range.
Small business financial statement analytical skills required (Profit and Loss Statement and Balance Sheet). Reviews business plans, tax returns, financial statements, competition, economic conditions, etc. to determine credit worthiness; prepares and presents loan proposals to Credit Committee; answers questions from staff to defend business decision.
Business development experience required. The loan officer is expected to spend half-time in the office, and half-time meeting with referrals sources (business bankers, business lawyers, accountants, M&A/business brokers, etc).
Efficiently process complete loan application packages, including screening packages against product guidelines, required documents, and regulatory requirements.
Familiar with lending software processing and underwriting systems (Sageworks Abrigo, Moody's Credit Lens, etc)
Understand full ten-tab SBA underwriting requirements and gathering all required documents, and closing out applications within target timeframes.
Gathers additional data by contacting customers regarding questions/concerns; makes decisions; notifies customer; negotiates loan rate and term; obtains documentation needed for loan file; forwards file to loan underwriter and loan processor; closes approved loans. Sends required documentation regarding denied loans; provides suggestions for ways to improve credit worthiness.
Reviews commercial loans in assigned portfolio annually; works with credit personnel in obtaining updated financial statements to prepare reviews; create updated narrative report to ensures credit review and loan risk category is complete.
Serves as a contact for realtors, title company staff, appraisers, accountants, insurance agents, and attorneys regarding commercial loan customers.
Conduct business and/or construction sites visits before loan closing and conduct annual site visits to verify loan utilization.
Provides documentation and responds to questions from internal and external auditors as well as examiners regarding work produced.
Represents MEDA at various functions and provides leadership in community activities and organizations.
Continues education by attending commercial lending seminars and SBA lending/in person training events/webinars.
Make decisive loan recommendations and clearly articulate a compelling case for loan decision to approve or deny applications based on appropriate approval levels.
Efficiently process complete loan application packages, including screening packages against product guidelines, required documents, and regulatory requirements.
Support portfolio management activities including monitoring of high-risk loans and leading collection efforts on loan portfolio.
Experience in all areas of collections from work outs to SBA default processes.
Solve and mitigate credit issues for clients and third-party lenders.
Understanding of participation and subordination agreements with other financial institutions.
Understanding GAAP accounting regarding all business accounting functions relating to financial statements.
Understanding of FASB rules and regulations.
Ensure customer privacy, security of files and appropriate staff access.
Assist in preparing reports and maintain accurate reporting to marketing reports and pipeline reports, as assigned.
Familiar with recording and lien processes to secure collateral.
Interface with clients, consortium bank members, other nonprofits, and funding sources upon request.
Other lending duties as assigned
KEY DELIVERABLES
Timely and complete loan package for approval and complies with underwriting standards.
Meets sales expectations and demands of all functions of the lending department
Provides accuracy in Term sheets and data entry of date for third party vendors.
Adheres to underwriting policy & procedures
Performance reporting
QUALIFICATION STANDARDS
Minimum bachelor's degree in business administration, finance or another related field. MBA a plus.
At least five years of small business loan financial analysis experience. Seven plus years as an active small business loan officer preferred.
Business development expertise needed.
Understanding of SBA 504 and commercial real estate underwriting a plus
Familiar with loan underwriting software programs (Sageworks Abrigo, Moody's Credit Lens, etc) and advanced skills in Excel a plus.
Excellent inter-personal skills, comfortable working with people of varied cultural backgrounds, and English as second language users.
Ability to communicate the written and spoken word with tact, diplomacy, and/or authority when necessary.
Good organizational skills, well disciplined, and able to meet deadlines, self-starter.
Ability to work under pressure of many priorities and deadlines, effective problem solver.
Training and Development
Lending department provides SBA 7a Certification at no cost to loan officer. Ongoing training in areas such as for profit & non-profit commercial real estate lending and small business acquisition.
Travel may be required.
Physical Requirements:
While performing the duties of this job, the employee is occasionally required to stand; walk; sit; and climb stairs. Specific vision abilities required include ability to read printed materials and computer monitors. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.