SUMMARY:
The SBA Loan Closer is responsible for managing the closing process on SBA 7(a) loan transactions, coordinating with borrowers, SBA Relationship Managers, attorneys, title companies, and the SBA Closing Manager to ensure every loan closes accurately and on schedule.
ESSENTIAL JOB FUNCTIONS:
- Independently manage and oversee the SBA 7(a) loan closing process from conditional approval through funding, exercising professional judgment in evaluating loan eligibility, identifying potential risks, and determining appropriate courses of action within established lending authority
- Analyze SBA loan approval conditions, applicable SBA Standard Operating Procedures (SOPs), and internal lending policies to identify material compliance concerns, assess closing requirements, and recommend appropriate resolutions to complex transaction issues
- Serve as a primary loan closing officer and subject matter expert to SBA Relationship Managers, attorneys, borrowers, and third-party service providers, providing guidance on complex requirements, documentation issues, and SBA regulatory compliance
- Evaluate and resolve non-routine closing deficiencies and transactional challenges, independently determining appropriate corrective actions within delegated authority and escalating matters requiring formal SBA Credit or legal approval
- Assess loan readiness for funding by evaluating the satisfaction of material closing conditions, identifying outstanding legal or compliance risks, and providing funding recommendations or exercising delegated closing clearance authority in accordance with Bank policy
- Direct and collaborate third-party closing activities, including legal documentation, title review, collateral perfection, appraisal coordination, and settlement requirements, to protect the SBA guaranty and ensure regulatory compliance
- Oversee the integrity and completeness of closing files, ensuring documentation supports SBA program requirements, internal lending standards, and subsequent servicing or secondary market transactions
- Provide specialized guidance on post-closing regulatory and documentation requirements, including SBA note registration, servicing transfers, secondary market documentation, and SBA guaranty purchase considerations
- Interpret changes to SBA SOP, regulatory guidance, and internal lending policies, assess their implications for closing operations, and recommend enhancements to departmental procedures and risk management practices
JOB REQUIREMENTS:
- High school diploma or equivalent required
- Prior SBA 7(a) loan closing experience
KNOWLEDGE/SKILLS REQUIRED:
- Intermediate knowledge of SBA SOP closing requirements, authorization conditions, and funding procedures
- Intermediate collaboration skills
- Intermediate verbal and written communication skills
- Intermediate organizational skills
- Intermediate customer service skills
- Intermediate proficiency with loan origination systems
- Intermediate proficiency with Microsoft Office
PHYSICAL AND MENTAL QUALIFICATIONS:
- Standing, walking, bending and stooping required
- Must be able to sit at a desk for long periods of time and use a computer
- Must be able to occasionally move or lift up to 10 pounds
- May be asked to work supplemental hours periodically
- Limited travel required occasionally during and after business hours
Salary Pay Range: $42,647.78 - $74,195.42
Benefits: Eligible associates may participate in Carter Banks benefits package, including medical, dental, vision, life insurance, disability coverage, other voluntary benefits, 401(k), paid time off, and paid holidays.