Business Lending Loan Closer

Business Lending Loan Closer

Work to Improve and Increase Economic Opportunities in the St. Louis Region

Responsible for performing professional work of marked difficulty in closing commercial loans under various loan programs (one example is finalizing SBA 504 loans). Responsibilities include (but are not limited to): managing the complex closing process for all approved loans, engaging in frequent contact with clients to discuss personal and business finance matters occasionally of a sensitive nature, independent decision-making in the analysis of loan closings where errors could result in potential program loss, preparing documentation ensuring regulatory compliance, submitting closing packages, and completing reports for internal and external users.

• Draft, review, organize, coordinate and manage the closing of loans: meet with borrowers and bankers to initiate closing process; prepare all required loan documentation; review title and lien searches to secure proper collateral position; organize and prepare file for review by in-house and outside legal counsel; ensure completion of loan closing by filing documents with appropriate recording offices, obtaining title insurance, and billing expenses incurred;
  
  maintain communication with SBA and other agencies in moving loan to funding.
• Act as the primary point of contact between borrowers, lenders, title companies, and legal counsel.
• Ensure the loan adheres to SBA Standard Operating Procedures (SOPs), the Authorization for Debenture Guarantee, CDC (Certified Development Center) requirements, and Economic Development Association loan guidelines.
• Submit complete, accurate closing packages to the SBA District Office. Review environmental reports, insurance, and property.
• Engage in customer service by talking with clients (e.g., bankers, attorneys, accountants) about existing loans and managing issues regarding open loans waiting to be disbursed.
• Monitor regulations and changes to loan programs and disseminate information to staff and public, as needed.
• Monitor internal guidelines, policies, and procedures; update systems as necessary and disseminate information to appropriate parties.
• Assist with the Access database: enter data into the database.
• Perform various other duties and functions as required or assigned within area of expertise or scope of the position.

Bachelor's degree from an accredited institution with major course work in business, finance, accounting, commercial lending, or closely related field.

• At least two years of related work experience, or other equivalent combination of education and experience.
• In-depth understanding of SBA 504 loan regulations, Eligible Passive Company (EPC) rules, and debt refinancing or commercial lending experience, preferred.
• Knowledge of policies, practices, and procedures involved in the administration/closing of Small Business Administration loans, or commercial loans.
• Understanding of practices involved in banking and real estate transactions and associated legal documentation.
• Skill to understand, interpret, explain, and apply relevant policies, procedures, and regulations.
• Education, training, or work experience as a paralegal and specialized training such as the NADCO 504 Loan Closing course is a plus.
• Familiar with laws and regulations governing finance programs.
• Understanding of relevant legal terminology encountered in the course of work; ability to interpret contracts.
• Strong attention to detail, oral and written communication skills, and ability to manage complex transactions.
• Proficiency in attending to details, calculating numerical formulas, and verifying accuracy of amounts and calculations.
• Ability to organize, prioritize and ensure effective workflow and response to deadlines.
• Skills to comprehend and make inferences from written materials.
• Establish and maintain effective working relationships with borrowers, Small Business Administration, bankers, accountants, attorneys, title company personnel, board members, staff, and the general public.
• Familiar with modern office practices, procedures, and systems.
• Ability to perform and accomplish the requirements of the job using appropriate general office equipment (i.e., fax machine, copy machine, calculator, multi-function telephone).
• Ability to use basic computer word processing and spreadsheet/database management applications (i.e., Microsoft Word/Excel/Access applications).
• Perform light physical work exerting up to 25 pounds on an occasional basis; perform such activities as fingering, grasping, lifting, reaching, crouching and repetitive tasks.
• Recognize and respect diversity and work effectively with peoples of other cultures.