Job Description
Job Title: Loan Officer
Overview: As a Loan Officer with Community Business Finance (CBF), you will play a pivotal role in facilitating the financing of small businesses through the SBA 504 loan program. This position requires an understanding of commercial lending practices and financial analysis. You will work closely with applicant business owners to assess their financial needs, guide them through the loan application process, and ensure the successful completion of loan transactions. Additionally, you will collaborate with the CBF staff and external service providers to originate, process, and fund loan applications. You will build relationships with the small business lending community to promote the SBA 504 loan program and to generate leads and applications that lead to loan fundings and long-term customer relationships.
Responsibilities:
- Evaluate loan applications and financial documents to assess applicant eligibility and creditworthiness.
- Prequalify and analyze business profitability, cash flow, financial projections, balance sheet, and collateral valuation.
- Prepare SBA 504 loan structure presentations to interested business owners and lenders.
- Assist business owners and third-party lenders in preparing loan packages and provide guidance on required documentation and compliance requirements.
- Preparation of loan opportunity memos with each loan application.
- Collaborate with the underwriting team to process loan applications and credit presentations for the CBF loan committee and the SBA.
- Interview small business applicants to assess business operations, management capabilities, and growth potential.
- Develop and grow relationships with banks, credit unions, nonbank lenders, and community organizations to promote the CBF’s lending program and other CBF initiatives.
- Stay updated on industry trends, SBA and other banking regulatory changes, and best practices in small business lending.
- Participate in local and national industry trade associations events, training, and conferences.
Qualifications:
- Experience in commercial lending is required (business banking specialty is a plus).
- A bachelor's degree is preferred but not necessarily required.
- Understanding of financial statements, credit analysis, and lending principles.
- Some experience with credit analysis/underwriting is preferred.
- Familiarity with SBA loan programs is a plus.
- Excellent communication skills, with the ability to effectively interact with applicants, bankers, and CBF staff.
- Ability to manage multiple priorities and work under pressure to meet deadlines.
- Willingness to work in a hybrid work environment.
Job Tags
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