Job Details

Sba Loan Closer

Company name

Unity Bank,

Organization Type

In-House

Job Type

Legal Staff

Years of Experience

Min 10 yrs required

Location

Clinton, NJ

Date Last Verified

Feb 16,2018

Posted on

Dec 07,2017
Practice Area
Finance >> Finance - Banking
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SBA Loan Closer The candidate will be responsible for all aspects of the SBA closing process and facilitates post-closing construction/multiple disbursements. Will review and approval of: pre-closing due diligence, pre-closing funding reconciliations, post-closing disbursement payments, as well as authoring pre- and post-closing credit memorandums. Closing 7(a) and 504 loans in accordance with the guidelines and procedures set forth in the SBA SOP. Interfacing with bank attorney, borrowers, loan officers, and credit to facilitate closing. Review and update due diligence checklists prepared by legal counsel. Review all supporting docs including insurance certificates, injection, required business documentation, purchase contracts, leases, etc. Perfect liens on collateral for loans, including real estate, business assets, guarantees and cash collateral. Prepare loan documents and settlement statements and monitor the disbursement of the loan proceeds in accordance with the settlement statement. Schedule and maintain closing dates. Obtain all post-closing items. Initial audit of files to ensure that the loan closed according to the conditions of the original loan proposal. Review of all legal files upon receipt from legal counsel. Preparation of all loan modifications. Preparation and review of all SBA Authorizations and loan documentation. Prepare and/or review disbursements for construction, leasehold improvement and other loans structured for multiple disbursements; ordered and reviewed site inspections; maintained legal files post-closing through project completion. Preparing loan booking for loan servicing. Audit collateral file for compliance with conditions of approval, as well as policy and procedure. Verify accuracy and completeness of loan documentation and compliance with bank policy and regulations, as well as SBA SOP (Standard Operating Procedures) in order to ensure the preservation of the SBA Guaranty. Coordinate with attorneys to correct any audit exceptions. Communicate verbally and in-writing with borrower as necessary to correct file deficiencies. Prepare documentation to support credit-approved loan servicing requests such as subordinations, modifications, releases of collateral and deferments. Must have Bachelor of Arts Degree. Should have 10+ years of SBA loan closing experience. Must have proficiently in documentation software such as LaserPro and T-Soft as well as Microsoft Word, Excel and Outlook. Should have ability to navigate the Bank’s systems such as Navigator and Director.

Company info

Hiring Coordinator
Unity Bank,
64 Old Highway 22
Clinton, NJ 08809

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