SBA Closing Specialist

If you need assistance with filling out our application form or during any phase of the application, interview, or employment process, please notify our Human Resources Team at 801-366-6947 option 1 or email [email protected] and every reasonable effort will be made to accommodate your needs in a timely manner.

To be effective, an individual must be able to perform each job duty successfully.

• Works with SBA loan officers, underwriters, borrowers, title companies, insurance companies attorneys, the United States Small Business Administration (SBA) and other third parties to coordinate, package, document and fund less complex structured SBA loans including SBA 7(a), Express and 504 Loan Programs, which may include singular borrowers, minimal amount of guarantors, and smaller loan balances up to $2 million.
• Has a general understanding of SBA eligibility requirements and loan documentation processes to remain in compliance with the SBA’s Standard Operating Procedures, MACU policy and standards, CFPB and NCUA rules and regulations.
• Has a general understanding of business tax returns, personal tax returns, schedule K-1s, financial statements, and rent rolls.
• Understands and demonstrates a high level of written communication relating to loan file documentation, memorandums, and all forms of written communication.
• Reviews approved credit memos and loan files to prepare closing needs lists to satisfy all subject to requirements of the loan approval, ensures SBA eligibility is met, properly documents the loan, and ensures loans are closed/funded according to approval documentation and MACU policy with moderate supervision.
• Communicates with commercial title companies to clear exceptions and other collateral issues to ensure MACU has appropriate lien positions on all real estate collateral.
• Prepares and files all UCC searches and filings to ensure MACU has appropriate lien positions on all UCC collateral (i.e. furniture, fixtures, equipment, inventory, receivables, etc.).
• Communicates with insurance companies to ensure loans have appropriate insurance coverage specific to the loan as well as ensuring that all SBA insurance requirements are met in relation to general liability insurance specific to each business industry.
• Prepares all SBA required loan documents and performs all SBA related loan packaging duties including preparing and obtaining SBA approvals on 7(a) and Express Loans through the SBA’s ETran system.
• Communicates directly with the SBA to ensure eligibility and compliance with the SBA including clearing all SBA hold codes required to obtain SBA approval to close all loans.
• Prepares all loan documents including trust deeds, notes, borrower certifications, beneficial ownership, borrower resolutions, loan specific documentation, and all required SBA forms.
• Prepares loan memorandums on any loans that may be assigned.
• Processes and reviews IRS tax transcripts for accuracy and to ensure borrowers are eligible for SBA financing by verifying that tax returns have been filed with the IRS.
• Ensures accurate records are maintained in loan files including lien perfections.
• Stays current on SBA regulations affecting loan documentation and perfection of collateral including keeping up on all SBA Notices and changes to the various SBA programs outlined in the SBA’s Standard Operating Procedures.
• Ensures loan ticklers are property documented and maintained.
• Follows for all post-closing documentation when applicable.
• Responsible for reviewing, boarding, requesting wires, approving other closing specialist’s wires, and funding SBA loans.
• Prepares assigned origination and closing reports in a timely and efficient manner.
• Reviews professional real estate appraisals to validate collateral accuracy (parcel numbers, values, and legal descriptions, etc.)
• Reviews lease agreements, subordinations and landlord consent for accuracy and coordinates with the MACU Legal Team, borrowers and landlords to ensure SBA eligibility requirements are met.
• Ensures regular communication through the origination process with loan officers, underwriters, management, members and third parties.
• Provides superior customer service both internally and externally with respect to SBA loans.
• Is able to manage up to five loan files at a given time.
• Works together with all teams to accomplish monthly, quarterly and annual goals.
• Performs other duties as assigned.

KNOWLEDGE, SKILLS, and ABILITIES

• Knowledge of SBA eligibility requirements and loan documentation processes to remain in compliance with the SBA’s Standard Operating Procedures, MACU policy and standards, CFPB and NCUA rules and regulations.
• Ability to stay current on SBA regulations affecting loan documentation and perfection of collateral including keeping up on all SBA Notices and changes to the various SBA programs outlined in the SBA’s Standard Operating Procedures.

Experience

One year loan closing experience in a progressive financial setting, working in a lending setting.

Education

Two-year college degree or equivalent experience.

Licenses, Certifications, Registrations

Must qualify for access to SBA systems and not be listed on any SAM search or SBA  debarment lists.

Managerial Responsibility

Has no supervisory/managerial responsibilities.

Computer/Office Equipment Skills

• Intermediate skills with Microsoft Office Suite including Outlook, Word, and Excel.
• Experience with financial reporting or tax analysis software.
• Experience with SBA ETran.
• Experience with core banking systems .

Language Skills 

• Good oral communication skills with demonstrated ability to present information in a manner appropriate for key stakeholders and all levels of the organization.
• Good writing and grammatical skills relating to preparing memorandums and all forms of written communication.

Other Skills and Abilities

• Unquestioned personal and professional integrity.
• Ability to work both autonomously and collaboratively in a fast-paced environment.
• Self-starter with good organization and time management skills and the ability to work productively and efficiently in a fast-paced environment with multiple projects and timelines.
• Adaptive to change, responds positively to altered circumstances or conditions.
• Possess a desire and willingness to learn and continually update knowledge base on financial concepts, strategies, systems etc.
• Take initiative to be a problem solver and provide suggestions to improve processes and efficiencies.

PHYSICAL ABILITIES / WORKING CONDITIONS

Physical Demands

Ability to sit, talk and hear consistently

Ability to stand, walk, and use hands to handle or reach occasionally

Vision Requirements

Close vision (clear vision at 20 inches or less)

Distance vision (clear vision at 20 feet or more)

Weight Lifted or Force Exerted

Ability to lift up to 10 pounds occasionally

Environmental

There are no unusual environmental factors (such as a typical office)

Noise Environment

Moderate noise (business office with computers and printers, light traffic)

Mountain America Credit Union is an EEO/AA/ADA/Veterans employer.