- Professional
Job Description:
The SBA Loan Closer is responsible for facilitating the timely processing & closing of SBA loans from credit approval to funding, including ordering and/or reviewing third party reports, coordinating closing dates, managing communication with all parties to the transaction (borrower, closing counsel, title agency, etc.), preparing and/or reviewing closing documents for accuracy, and ensuring closing documentation is in alignment with SBA loan authorization. In some cases, the Closer is also responsible for some post-closing duties (clearing exceptions, etc.) before the loan is passed on to loan ops/compliance.
Main Job Tasks and Responsibilities:
- Reviews and completes all necessary documentation for SBA packaging file.
- Prepares CLP submission package to the SBA.
- Generates Closing Checklist and coordinates initial kickoff call with borrower, BDO and attorney.
- Works closely with borrower, BDO and attorney to ensure smooth closing process.
- Responsible for timely communication with Borrower of missing items needed to complete loan closing.
- Maintain control over loans(s) in process to detect any potential and/or developing problems and ensure all department managers are inform of the issues.
- Orders tax transcripts, UCC/Federal/State/County preliminary lien searches, title commitments and request from borrower the essential loan documentation as indicated by Underwriter and/or EB&T procedures to ensure completeness of loan files. Pays SBA Guaranty Fee in accordance with SBGA SOP.
- Reconcile equity injection and make final verification determination.
- Knowledge and review of AIA contracts, permits, builder’s risk and other construction documents.
- Works with SBA Construction Coordinator to ensure smooth handoff on construction and multi disbursement projects.
- Builds electronic loan folder and scans loan documents into electronic scanning system.
- Follow internal audit procedures to ensure file is property documented and scanned into electronic scanning system.
- Other support duties as assigned by Closing Manager.
Education and Experience:
- Minimum 2 years SBA loan closing experience.
- 2-6 years commercial loan closing or relevant lending experience.
- Demonstrated knowledge of the SBA 7A boilerplate, Authorization Wizard, and working knowledge of the SBA SOP are required.
Key Competencies:
- Skilled with Microsoft Word, Excel, Outlook and related software applications.
- Good verbal and written communication skills.
- Well organized; ability to multi task; attention to detail.
- Ability to prioritize and work well under pressure.
- Must be able to work in a team environment and adapt to change.
- Ability to manage multiple projects and deadlines simultaneously in a fast paced environment, high production, professional environment.
- Friendly, strong interpersonal and communication skills.
