The Senior SBA Loan Closer role is responsible for ensuring accurate and timely review of SBA loan transactions, producing loan documents, ensuring all items needed for closing are obtained, and ensuring all collateral is perfected appropriately. Duties include coordinating with the SBA lenders, Credit Administration, Portfolio Managers, Loan Operations, and customers on dosing loan transactions. The Senior SBA Loan Closer is also responsible for remaining current on SBA SOP regulations, all Bank policies and procedures, and all applicable state and federal banking regulations.
The ideal candidate will be highly detail-oriented with the ability to multi-task, meet competing deadlines, and provide excellent client service.
Essential Duties and Responsibilities
The essential functions include, but are not limited to the following:
Process SBA 7(a) and SBA 504 loan files, with expertise in complex loan structures including, but not limited to change of ownership and construction.
Review title policies, other real estate related documents, entity documentation and legal documents of borrowers and ensure all Bank and SBA requirements have been met
Prepare necessary lien perfection documents to protect the Bank's security interest in pledged collateral
Prepare SBA loan authorization through eTran or other means
Review approved Credit Approval Document; prepare borrower closing checklist and coordinate with customer for any documentation needed prior to or at closing
Determine and communicate to prospective borrowers and referral sources the required documentation needed for closing.
Request and review entity documentation, UCC searches, title insurance, flood certificates, etc.
Assist in identifying and clearing any exceptions within the appropriate time periods; interact with the SBA, underwriters, referral partners, borrowers, attorneys, and insurance agents to ensure all conditions are met for closing.
Perfect collateral position and review insurance documents to ensure proper type/coverage
Maintain detailed knowledge of SBA loan documentation, collateral perfection, title insurance, UCC filing, compliance requirements, and loan/funding terminology
Review for and prepare recommendations to correct errors that could potentially put the Bank at risk of losing an SBA guarantee or obtaining penalties
Provide a high level of customer service to both internal and external customers
Determine and communicate to prospective borrowers and referral sources the required documentation needed for closing.
Act as the key point of contact for the borrower, Banker, Portfolio Manager, and other key individuals involved in the loan and closing process, communicating with the team regularly with status updates.
Maintain a working knowledge of SBA Loan due diligence, risk management requirements, loan policy, and procedure, ensuring the use of accurate SBA forms and procedures.
Collaborate with lending teams to collect and review information necessary to produce loan documentation.
Request and review entity documentation, UCC searches, title insurance, flood certificates, etc.
Request and review attorney-prepared documentation ensuring it is in accordance with approved credit presentation.
Collect and process executed loan package for funding and boarding.
Working knowledge of construction loan disbursements, project accounting, risk management, and loan documentation associated with multiple disbursement loans.
Other duties as assigned.
Minimum Qualifications (Knowledge, Skills, and Abilities)
Bachelor's Degree preferred; High School Diploma or GED required.
Minimum of 3-5 years of experience in SBA loan closing or administration department or as a commercial loan closer is strongly preferred.
Experience with SBA forms and attorney-prepared loan documentation is preferred.
Knowledge of all required financial and collateral documentation for various loan types
Knowledge of various legal entity borrowing structures such as Limited Liability Companies, Corporations, Partnerships, Tenant in Common structures, etc.
Knowledge of required reviews and verifications through the Secretary of State, etc., and the type of entity documentation required for each type
Knowledge of Flood Insurance Compliance and required documentation
Knowledge of Loan Closing processes and required documentation
Outstanding leadership and collaboration skills
Strong financial analysis skills, with extraordinary attention to detail
Prior experience with front-end origination systems preferred
Excellent written and verbal communication skills
Interpersonal skills to interact positively and effectively with all levels of employees, management, and third parties
Possess excellent multi-tasking skills
Capability of working effectively under limited supervision
Ability to identify issues and opportunities and explore solutions
Ability to create and maintain a positive and cohesive teamwork environment
Ability to meet strict timelines and service level agreements
Strong PC skills required along with an ability to quickly learn new systems
Demonstrated success at teaching various skills to junior SBA Loan Closers including system and computer applications, SBA Closing best practices, SBA documentation requirements, and collateral requirements
Strong written and verbal communication skills.
A positive and collaborative approach with both peers and management.
Versatility, flexibility, and a willingness to work on consistently changing priorities with enthusiasm.
Outstanding people skills
Experience working in a time-sensitive environment.
Excellent data entry and computer skills, including Microsoft Office products (Word, Excel). Proficient in Adobe, DocuSign,
Strong ability to grasp concepts and processes.
Physical Demands and Work Environment:
The physical demands described here are representative of those that must be met by an employee to successfully perform the essential functions of this position. Reasonable accommodations may be made to enable individuals with disabilities to perform the functions.
While performing the duties of this position, the employee is regularly required to talk or hear. The employee frequently is required to use hands or fingers and handle or feel objects, tools, or controls. The employee is occasionally required to stand; walk; sit; and reach with hands and arms. The employee must occasionally lift and/or move up to 50 pounds. Specific vision abilities required by this position include close vision, distance vision, and the ability to adjust focus. The noise level in the work environment is usually low to moderate. Professional office setting, a primarily sedentary position requiring long periods of time working at a computer. May be required to work in excess of 40 hours per week and other than normal business hours, such as holidays, evenings, and weekends as business demands.
Location
This is a remote position that can report to our Troy, MI, Salt Lake City, UT, or Westminster, CO office.
Note: This job description in no way states or implies that these are the only duties to be performed by the employee(s) incumbent in this position. Employees will be required to follow any other job-related instructions and to perform any other job-related duties requested by any person authorized to give instructions or assignments. All duties and responsibilities are essential functions and requirements and are subject to possible modification to reasonably accommodate individuals with disabilities. To perform this job successfully, the incumbents will possess the skills, aptitudes, and abilities to perform each duty proficiently. Some requirements may exclude individuals who pose a direct threat or significant risk to the health or safety of themselves or others. The requirements listed in this document are the minimum levels of knowledge, skills, or abilities. This document does not create an employment contract, implied or otherwise, other than an "at will" relationship.
E-Verify
Milestone participates in the U.S. Department of Homeland Security E-Verify program in all facilities located in the United States and certain U.S. territories. The E-Verify program is an Internet-based employment eligibility verification system operated by the U.S. Citizenship and Immigration Services.
We kindly request that recruiters, staffing agencies, and third-party sourcing individuals refrain from applying or contacting us regarding job opportunities.