SBA Closing Specialist – CBG Operations
Regions Bank
full-time
Posted on:
Location Type: Remote
Location: Remote • Alabama • 🇺🇸 United States
Visit company websiteSalary
💰 $67,250 - $84,970 per year
Job Level
Mid-LevelSenior
About the role
- Reviews approved loan packages received from Underwriting to include credit memos, commitment letters, terms and conditions to ensure critical components have been provided by the lending officer for the documentation process
- Manages the most complex transactions, requiring a high degree of autonomy and the ability to draw upon expertise and knowledge in the SBA documentation process
- Accurately and quickly determines documentation requirements based on SBA SOP and Regions Credit Policy guidance
- Creates and maintains the closing checklist
- Trains and mentors more junior team members
- Monitors Closing Team Portfolio for assignments and peer reviews
- Coordinates and leads communications with the borrower, SBA Specialist, Assistants, internal staff, and closing attorneys
- Sets up third party engagements commensurate with credit approval, including but not limited to attorneys, real estate and business appraisers, etc.
- Identifies, requests, and reviews critical documents related to entity searches, UCC searches, flood determinations, construction financing, and other required supporting documentation and has authority to resolve key issues related to these pieces
- Submits applications through the appropriate SBA systems (ETran and SBA One) for guaranty authorizations
- Prepares various loan documents for closing
- Prepares or coordinates the preparation of legal documents in response to issues discovered during the closing process to mitigate risks associated with SBA or Regions Program requirements
- Confirms satisfaction of loan approval terms and equity requirements prior to closing
- Ensures post-closing booking, funding, and title searches are properly administered and documented
- Independently monitors loan packages throughout the process to identify potential risks related to the effective and efficient processing of the loan and to protect the Bank's interests
- Maintains currency with SBA SOP requirements, procedures, and changes
Requirements
- High School Diploma or GED
- Six (6) years of SBA closing experience and knowledge of SBA loan program requirements or equivalent work experience
- Advanced commercial credit knowledge including loan closing, legal documentation, construction financing, and exceptions
- Expertise in reviewing insurance, title work, surveys, collateral, lien filings, appraisals, construction due diligence, and environmental reports
- Experience working with commercial sales associates, underwriters, paralenders, insurance firms, and attorneys
- Expertise in use of computers, Microsoft Office (Excel, Word, Outlook)
- Experience with commercial loan systems
Benefits
- Paid Vacation/Sick Time
- 401K with Company Match
- Medical, Dental and Vision Benefits
- Disability Benefits
- Health Savings Account
- Flexible Spending Account
- Life Insurance
- Parental Leave
- Employee Assistance Program
- Associate Volunteer Program
Applicant Tracking System Keywords
Tip: use these terms in your resume and cover letter to boost ATS matches.
Hard skills
SBA documentation processloan closinglegal documentationconstruction financingcredit memoscommitment lettersUCC searchesflood determinationsappraisalsenvironmental reports
Soft skills
autonomymentoringcommunicationrisk identificationteam coordination
Certifications
High School DiplomaGED