- Reviews letters of intent (LOI) and credit authorization memos (CAM);
- Orders, reviews and produces LaserPro documents;
- Perfects collateral for all loans assigned;
- Orders insurance certificates prior to loan funding;
- Prepares loan boarding packages;
- Assists with managing communication with borrowers, BDOs, underwriters, credit administration and other involved parties;
- Enters all required data for SBA loan files into software system including: contact information, meetings, calls, emails, and any other comments/notes pertaining to the loan package;
- Coordinates with BDOs and environmental specialists to ensure all proper environmental requirements for loan are met;
- Scans, organizes, and performs other clerical duties pertaining to loan packages;
- Monitors status of loan files and initiate necessary follow-up on outstanding items in order to facilitate loan closing;
- Works cohesively with the SBA, borrowers, underwriters and other parties as needed to achieve success in all areas of job duties;
- Treats people with respect; keeps commitments; inspires the trust of others; works ethically and with integrity; upholds organizational values; accepts responsibility for own actions;
- Familiar with banks and SBA’s insurance requirements;
- Knowledgeable of Preliminary Title Reports and endorsements;
- Knowledgeable of escrow documents and requirements;
- Demonstrates knowledge of and adherence to Equal Employment Opportunity (EEO) policy; shows respect and sensitivity for cultural differences; educates others on the value of diversity; promotes working environment free of harassment of any type; builds a diverse workforce and supports affirmative action.
- Assures compliance with all Bank policies, procedures and processes, and all applicable state and federal banking laws, rules and regulations; adheres to Bank Secrecy Act (BSA) responsibilities that are specific to the position.
- Completes administrative tasks correctly and on time; supports the Bank’s goals and values; benefits the Bank through outside activities.
- Performs the position safely, without endangering the health or safety to themselves or others and will be expected to report potentially unsafe conditions. The employee shall comply with occupational safety and health standards and all rules, regulations and orders issued pursuant to the OSHA Act of 1970, which are applicable to one’s own actions and conduct.
- Other projects/responsibilities assigned as needed.
Minimum 3 years SBA loan processing experience.
Strong working knowledge of SBA loans and familiarity with SBA Standard Operating Procedures (SOP).
Must have SBA funding/closing experience.
Exceptional written and oral communication skills.
Ability to work on more than one project at a time.
Strong Microsoft Office skills.
Ability to work in fast paced environment.
Attention to detail and strong organizational skills.
Strong analytical skills and ability to problem solve.
Ability to communicate effectively with borrowers and coworkers.
Ability to work with minimal supervision on daily basis.
*Represents basic qualifications for the position. To be considered for this position you must at least meet the basic qualifications.
First Choice Bank is an Equal Opportunity/Affirmative Action Employer, M/F/D/V.
Note: This preceding job description has been designed to indicate the general nature and level of work performed by employees within this classification. It is not designed to contain or be interpreted as a comprehensive inventory of all duties, responsibilities, and qualifications required of employees assigned to this job.
First Choice Bank, headquartered in Cerritos, California is a community focused financial institution serving diverse consumers and commercial clients and specializing in loans to small businesses, Commercial and Industrial (C&I) loans and commercial real estate loans with a niche in providing finance for the hospitality industry. The bank is a Preferred Small Business Administration (SBA) Lender.
Founded in 2005, First Choice Bank has quickly become a leading provider of financial services that enable our customers to grow, maintain strength, and reach unprecedented levels of success. With a majority of our founders being first generation immigrants, our vision is to provide flexible solutions to Southern California's underserved communities. We surpass our clients' expectations through our efficiency and professionalism and are committed to being "First in Speed, Service, and Solutions."
The Bank builds lasting relationships by consistently delivering quality financial services and solutions to our customers. The assurances of “First in Speed, Service and Solutions” embody our customer experience and are the cornerstones of fulfilling our mission to the communities we serve, while demonstrating dignity and respect to our customers and co-workers in everything we do.
We embrace our role as a local community bank with a primary mission to promote economic development by providing financial products and services to people and communities underserved by traditional financial institutions, particularly in low income communities, that are within the bank’s footprint.
Role: SBA Loan Closing Officer
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