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Cathay Bank · 1 day ago

SBA Closing Officer

El Monte, CA

Full-time

Onsite

Entry, Mid Level

$28.85/hr - $34.75/hr

2+ years exp

Cathay Bank is a financial institution that emphasizes a caring culture and the development of its team members. The SBA Closing Officer supports various functions of SBA lending, focusing on loan packaging, closing, and ensuring compliance with SBA regulations while working under minimal supervision.

BankingFinanceFinancial Services

Responsibilities

Prepare and review the SBA, GP, CLP, and PLP loan submission packages

Ensure SBA Terms and Conditions are consistent with approved credit memo

Prepare and review Closing Checklist and SBA closing documents

Prepare and review Lender’s Escrow Instructions

Review Prelim Title Report, Purchase Agreement and Escrow Instructions

Review loan file for any missing items and follow up with loan officer/borrower

Coordinate with borrower, broker, title, escrow, CDC and outside counsel for loan closing

Review entity formation documents and submit the loan doc request to DCF via nCino

Collect all pending items, including insurance, upload all executed loan documents to nCino, and coordinate funding with DCF

Fund and service in compliance with SBA, SOP, and Bank approval conditions in a timely and accurate manner

Issue cashiers check to pay all necessary loan related fees and costs

Generate monthly production reports and prepare the G/L Account & SBA Bank Control Account Certifications

Track loan referrals within the Bank and prepare loan broker referral fee after loan closing

Assists in operational duties of the division, including supporting the required paperwork for secondary market sales

May provide training and coaching to less experienced team members in the department

Qualification

SBA loan closingLoan packagingPC proficiencyBilingual (English/Mandarin)Detail orientedVerbal communicationWritten communication

Required

Minimum 2 years independently closing and packaging SBA 7(a) and 504 loans

PC proficient and detail oriented

Strong verbal and written communication skills

Preferred

College degree in accounting, finance, or business preferred but not mandatory

Bilingual (English/ Mandarin or Cantonese) is a plus

Benefits

Coverage for medical insurance

Dental insurance

Vision insurance

Life insurance

Long-term disability insurance

Flexible spending accounts (FSAs)

Health saving account (HSA) with company contributions

Voluntary coverages

401(k)

Company

Cathay Bank

Glassdoor3.1

Cathay Bank is a financial services company originally founded to support Los Angeles’ growing Chinese American community. It is a sub-organization of Cathay General Bancorp.

Founded in 1962

El Monte, California, USA

1001-5000 employees