SBA Loan Closer

This is a fully remote position, open to applicants in New York.

📋 Description

• Assist the Bank’s SBA program by finalizing and recording approved SBA loans in accordance with bank policies, SBA SOP, and SBA Loan Authorization.

• Manage loans from the initiation phase through to settlement and complete funding.

• Evaluate internal loan approvals to ascertain necessary due diligence and documentation.

• Gather, audit, and scrutinize loan-closing documents as well as third-party reports.

• Request and assess collateral evaluations and address any issues that arise.

• Examine insurance policies, including flood insurance, to ensure compliance with regulations.

• Create pre-closing and post-closing checklists.

• Compile application information for SBA Loan Submission and secure SBA loan approval.

• Monitor and fund the SBA Guarantee Fee.

• Act as a liaison between lenders, bank counsel, and title companies.

• Review loan documentation to ensure adherence to approvals and policies.

• Coordinate closing requirements with internal teams, lenders, counsel, and borrowers.

• Verify that approval conditions are fulfilled and arrange closings.

• Account for fees and charges, and prepare booking sheets.

• Assess loans after they are recorded in the system of record.

• Address loan documentation exceptions and recorded-document prerequisites.

• Manage the loan pipeline and process approved loans efficiently.

• Maintain positive communication with clients, escalate issues as necessary, and follow through to resolution.

• Process administrative actions for ongoing loans, including modifications, collateral adjustments, and E-Tran updates.

• Support multi-disbursement loan advances and handle loan-proceeds disbursements.

⛳️ Requirements

• Familiarity with SBA loan closing and documentation procedures.

• Understanding of commercial loan documentation practices, title policies, appraisals, environmental assessments, and entity formation documents.

• Knowledge of federal regulations such as the Bank Secrecy Act, Community Reinvestment Act, Americans with Disabilities Act, Right to Financial Privacy Act, Gramm-Leach-Bliley Act, Regulation E, and the US PATRIOT Act.

• Expertise in processing underwriting and/or closing procedures as well as federal lending regulations governing real estate lending.

• Strong communication, planning, customer service, organizational, and interpersonal skills.

• Comprehensive understanding of SBA Standard Operating Procedures.

• Over five years of experience as an SBA Loan Closer.

• Experience in closing SBA 7(a) loans nationwide is an advantage.

• A Paralegal Certificate or a 2-year Associate Degree in Paralegal Studies is a plus.

🏝️ Benefits

• Comprehensive health, vision, and dental benefits starting on day one.

• 401k plan with employer matching.

• Hybrid work-from-home options (based on role).

• Employee appreciation events (team-building activities, softball games, food truck days, etc.).

• Employee assistance programs (EAP).

• Wellness programs (flu shots, preventive care, discounts on health programs and services, etc.).

• Tuition reimbursement opportunities.

• Employee discount perks.

• Participation in CNOB Community Service Events.

• Reasonable accommodations for qualified individuals with disabilities.