Senior Loan Officer

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

📋 Description

• In alignment with established lending policies and procedures, evaluates and recommends approval for commercial customer credit applications, primarily through SBA loan programs.

• Conducts interviews with applicants and requests necessary information for the loan application process.

• Structures credit offerings in accordance with SBA program guidelines.

• Builds customer relationships through friendly, courteous, and responsive service.

• Promotes the Bank’s services to existing and prospective clients at industry-related trade shows.

• Cultivates strong connections with referral sources across various market segments.

• Develops sales, marketing, and business development strategies for the SBA BDO / Generalist Team.

• Acts as the primary business development originator for the SBA BDO / Generalist Team.

• Analyzes the financial status, creditworthiness, and property evaluations of applicants to determine if loan requests meet the Bank's, SBA's, and/or USDA's lending standards.

• Structures loan opportunities to adhere to Bank SBA standards.

• Assesses sources of repayment for potential loan applications.

• Corresponds with or interviews applicants or creditors to clarify any questions regarding application information.

• Recommends loans for approval to the loan committee.

• Denies loans that do not satisfy lending criteria.

• Develops and sustains strong relationships with referral sources.

• Gains industry expertise in serving specific market niches.

• Maintains relationships with current loan account customers and manages existing loan accounts as necessary.

• Stays updated on economic conditions, changes, and trends affecting customers' businesses, the banking sector, and specific market niches targeted by the Bank.

• Collaborates as part of a team, recognizing that all members are essential to its success.

• Remains informed about the products and services offered by the Bank.

• Upholds a high standard of regulatory awareness, including BSA, AML, CIP, and OFAC compliance.

• Performs additional duties as required.

⛳️ Requirements

• Bachelor's degree or equivalent experience.

• 5 - 7 years of experience in financial or industry-related roles.

• Established network of external COIs/referral sources.

• Strong market influence within the broader Boston region.

• Proven track record of closing $15M or more per year for the last 3 years, preferably in industries financed by Live Oak Bank.

• Exceptional customer service and interpersonal skills.

• Comprehensive knowledge of Bank lending policies, procedures, and criteria.

• Formal SBA training.

• Strong work ethic.

• Excellent organizational skills.

• Public speaking ability is recommended.

• Sound judgment.

• Detail-oriented.

• Proficiency in PC applications.

🏝️ Benefits

• Paid sick leave.