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Fifth Third Bank · 4 days ago

SBA 7A Loan Coordinator II

United States

Full-time

Remote

Mid Level

$61K/yr - $126K/yr

4+ years exp

Fifth Third Bank is a financial institution that connects great people to great opportunities. The SBA 7A Loan Coordinator II is responsible for coordinating the approval and closing of SBA and other government guaranteed loans, ensuring compliance with established policies and procedures while providing support to internal partners and maintaining organized loan files.

BankingCommercial LendingFinanceFinancial ExchangesFinancial ServicesLendingMedia and EntertainmentMortgage

Responsibilities

Supports the SBA lending leader in the processing of SBA loans for agency (SBA) approval and loan closing for larger, more complex loans

Assist the SBA lending leader in forming policies and procedures for approving and closing SBA loans in order to minimize the risk of guaranty repairs and denials within the portfolio

Collaborate with internal partners to identify areas of improvement and loan process efficiencies in order to make recommendations

Provide periodic training to internal partners such as Middle Office on SBA and alternative lending products

Approve assigned loans for agency (SBA) approval within designated PLP authority, as well as loans assigned to GGL Loan

Utilize LOB Playbook to be a trusted advisor to our clients resulting in strong client experience (internally and externally) retention/penetration and One Bank execution

Interface directly with borrowers who have been approved for SBA loans and secure customer acceptance of terms and conditions

Assist SBA 7A Loan Coordinator team members with technical assistance as it relates to program eligibility, compliance with policies and procedures, and closing and funding loans

Reviews and approves documentation submitted by the customer for compliance with SBA program requirements such as equity injections, verification of eligible use of loan proceeds such as SBA refinancing rules, lease agreements and landlord waivers, and other eligibility requirements

Completes all requirements of application packaging and closing requirements for assigned loans, including preparation, review, documentation and filing

Responsible for the preparation of the SBA Authorization on loans approved within the Bank's PLP authority, as well as ensuring all Terms & Condition requirements have been met prior to loan closing

Coordinates the packaging and approval of SBA and other government guaranteed loans in conformance with SBA, USDA, and state specific standard operating procedures

Ensures assigned loans are closed and funded according to SBA guidelines as well as Bank's internal loan policies

Ensures that loans are processed according to outlined procedures for 1502 reporting

Ensures proper payment of guaranty fee to the U.S. SBA

Develops a working knowledge of all customers, businesses, and prospect opportunities

Collects and reviews all required collateral information

Maintain reporting on assigned loans regarding loan status, actions taken in loan processing, outstanding items needed for approval and/or loan closing, while offering solutions to clear obstacles in loan processing to meet customer deadlines

Other duties as assigned

Qualification

SBA regulations knowledgeLoan packaging experienceLoan closing experienceMicrosoft WordMicrosoft ExcelCommunication skillsTeam collaboration

Required

Bachelor's degree in accounting, finance or economics or equivalent experience

Minimum 4 years of packaging and closing experience in the SBA industry

Extensive knowledge of the SBA (Small Business Administration) regulations

Proficient in basic software applications such as Microsoft Word and Excel

Benefits

Comprehensive benefits

Incentive compensation plan

Company

Fifth Third Bank

Glassdoor3.7

Fifth Third Bancorp is a financial services company that specializes in small business, retail banking, and investments. It is a sub-organization of Fifth Third Bank.

Founded in 1858

Cincinnati, Ohio, USA

10001+ employees