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SBA Loan Closing Specialist
Original Posting date:
SBA Loan Closing Specialist
Area of Interest:
Minimum Education: High School Diploma or GED equivalent
Minimum Experience: Three (3) years of commercial loan experience in processing, packaging, closing, funding and/or servicing loans, including one (1) year of experience handling SBA loans
Required Knowledge, Skills, & Abilities:
- General knowledge of commonly-used concepts, practices and procedures from within the SBA Department
- General knowledge of loan documentation and financial statement requirements for loans
- Working knowledge of SBA SOP
- Ability to balance administrative functions and meet service expectations
- Effective written and oral communication skills
- Effective organizational skills
- Excellent customer service skills
- Proficient with Microsoft programs, including Excel, PowerPoint, and Word
Additional Job information:
Preferred Knowledge, Skills, & Abilities:
- Knowledge of PCFS and/or Tsoft Software
- Associate's degree
Performs administrative tasks in support of the SBA Loan Operations Department. Ensures quality service and support for all of the assigned internal and external customers. Coordinates the preparation of required loan documentation and processes new loan packages. Reviews all loan documents to ensure documentation is approved and in compliance with regulations and company policy.
Job Duties and Responsibilities:
Ensures quality service and support for all of the assigned internal and external customers. Works with commercial lenders to ensure timely movement of the loan through the internal process while maintaining standards of compliance. Interacts with external customers, providing excellent communication and managing expectations through the process.
Coordinates the preparation of required loan documentation via worksheets; reviews loan documentation; coordinates execution of loan documents; coordinates booking of renewal loan documents; clears loan exceptions.
Assists loan officers in obtaining, compiling, and verifying information relevant to loan applications, including compilation of borrower's supporting documents, and internal research.
Processes new loan packages, which includes preparing forms, updating checklists, setting up loan files, organizing documents, ordering preliminary title insurance, ordering 3rd party reports, UCC searches, credit reports, OFAC, CIP, Flood searches and 4506 Request for Transcripts.
Reviews all loan documents to ensure documentation is approved and in compliance with regulations and company policy; maintains knowledge of current lending policies, SBA procedures and regulations. Attends and completes all necessary training.
Responsible for the monitoring and maintenance of multiple reports; keeps the commercial banker(s) apprised of any issues or problems that may arise and need attention.
Utilizes advanced knowledge of banking products and services to identify and refer cross-sell opportunities.
Reviews loan approvals and commitment letters, prepares checklist of items needed and works directly with Borrower to obtain documents. Prepares requests for SBA Guaranty, prepares initial funding packages and handles draw and servicing requests until loan is fully funded.
May monitor past due reports; coordinates with designated individuals to collect past due principal and interest payments to ensure payment. May review past due report monthly and alert Commercial Banker on the status of past dues and any pending issues.
May assist in monitoring renewals and collecting information required to process request.
Each team member is expected to be aware of risk within their functional area. This includes observing all policies, procedures, laws, regulations and risk limits specific to their role. Additionally, they should raise and report known or suspected violations to the appropriate Company authority in a timely fashion.
Performs other related duties as required.
The information on this 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.
Synovus is an Equal Opportunity Employer supporting diversity in the workplace. M/F/D/V/AA
Synovus is an equal opportunity employer supporting diversity in the workplace. All qualified applicants will receive consideration for employment without regard to race, color, religion, sex, national origin, disability status, protected veteran status, or any other characteristic protected by law.