Government Guaranteed Lending Loan Processor/Closer

The Government Guaranteed Loan Processor / Closer is responsible for the loan closing process for all Government Guaranteed Loans, ensuring that all legal documents are accurate, complete, and comply with SBA and USDA guidelines and regulations. This role involves working closely with loan officers, underwriters, loan operations, and clients to coordinate loan disbursement, resolve outstanding issues, and ensure timely and efficient loan closings.

Essential Duties and Responsibilities (Other duties may be assigned.)

Loan Closing Coordination:

Responsibilities:

• Reviews loan requests for loan eligibility, ensuring loans are eligible per the current SBA SOP, USDA program requirements, FDIC regulations, and State Chartered Bank policies.
• Review loan file and provide closing checklist to borrowers and set up a call to go over loan closing process with the borrower.
• Collect and review all required due diligence for loan closing, including business insurance, title insurance, life insurance, equity injection and all other due diligence as required by the closing checklist.
• Work with insurance agents for business insurance and life insurance policy.
• Complete SBA Forms: 1919, 1920, 912, 159, 601, 4506T/8821.
• Pull Due Diligence reports for CAIVRS, SAM, OFAC, CIP, Flood certifications.
• Process 912 for clearance when necessary.
• Process INS verification when necessary.
• Orders Tax Transcripts and verify that the tax returns match the transcripts.
• Input, submit, and obtain SBA Loan approval through E-Tran.
• Submit loans to the USDA office for underwriting.
• Order and review all required third-party vendor reports - business valuations and environmental reports as well as coordinating with internal team members for ordering appraisals, in relation to the collateral to be held on the loan.
• Engaging counsel to work on loan file once internal approval has been received by Credit Administration.
• Be the point of contact between the lender, underwriter, customer, attorney and/or title company, and SBA and USDA offices as needed.
• Work with the Landlord for execution of the Lessor's Agreement, Collateral Assignment of Lease, and any Amendments with the Lease Agreement.
• Work with the Franchisor for the Franchise Addendum and any Amendments needed to ensure compliance with SBA.
• Work with the Jobber for the Jobber Supply Addendum and any Amendments with the Jobber Supply Agreement.
• Work with the Contractor to gather construction documents for the loan project and refer to the construction analysis team or third party.
• Review and verify the cash injection supporting documents.
• Verify all applicable fees have been collected from the borrower and loan proceeds disbursed according to the fee schedule
• Create a Port Number in FiServ for loan operations.
• Work with Borrowers, lenders, internal partners, vendors, Lender Service Provider (LSP), and attorneys, to ensure that SBA transactions move effortlessly and efficiently throughout the application and closing process.

Compliance and Documentation:

Responsibilities:

• Work with the attorney and lender to prepare loan closing documents, including promissory notes, security agreements, and other necessary legal documents, in compliance with SBA and USDA guidelines and bank policies.
• Ensure all documents are compliant with SBA regulations, bank policies, and applicable laws.
• Review SBA Terms and Conditions, Title, and Closing documents to ensure it matches with the loan approval and documentation is in order before closing.
• Complete bank internal forms for closing: ACH Authorization, Online Banking, Privacy Notice, Beneficial Ownership Form, Agreement to Provide Insurance, Certificate of Financials, CAIVRS Disclosure.
• Prepare and review loan packages, including finalizing any necessary due diligence and ensuring all conditions have been met prior to closing.
• Verify accuracy of all documents and ensure proper signatures are obtained from borrowers, co-borrowers, and guarantors.
• Work with legal counsel to resolve any legal issues that may arise during the closing process.

Loan Disbursement:

Responsibilities:

• Complete the Loan Set Up Sheet accurately and coordinate with Loan Operations for loan closing and funding.
• Coordinate the disbursement of loan funds once the closing is complete.
• Ensure that the funds are disbursed in accordance with the terms of the loan agreement.
• Monitor loan closings to ensure timely disbursement and ensure proper documentation is retained for audit purposes.

Problem Resolution:

Responsibilities:

• Identify and resolve any issues that may arise during the closing process, including missing documentation, discrepancies, or delays.
• Work with loan operations and the loan servicing team to ensure all post-closing requirements are met.

Reporting and Recordkeeping:

Responsibilities:

• Work with loan operations to properly set up the new loan, review the new loan booked, and review ticklers that are set up for the loan
• Maintain accurate and up-to-date records of loan closings, including file documentation, loan status, and disbursement information.
• Ensure that all documents are properly filed and stored in compliance with the bank's record retention policies.
• Complete and finalize the 12 Tab and send it for Audit with LSP.
• Work with LSP to clear up any findings on the loan files audit.
• Follow up recorded documents with the closing attorney and ensure these are received and delivered to loan operations.

Customer & Partner Service

Responsibilities:

• Provide excellent customer service by maintaining communication with borrowers and responding to inquiries related to the loan closing process.
• Assist in addressing borrower concerns and ensure a smooth and positive closing experience.
• Serve as a subject-matter expert for SBA and USDA lending, supporting internal teams and providing guidance to borrowers and partners.
• Ensure fast resolution of escalated loan issues while maintaining exceptional service standards.

Leadership & Team Development

Responsibilities:

• Communicates effectively with bank department managers/officers to ensure smooth workflow and positive working relationships.
• Stays abreast of system requirements, updates, and opportunities.
• Foster a high-performance culture centered on compliance, efficiency, and client satisfaction to provide high quality customer service to the borrowers and internal clients.

Process Optimization

Responsibilities:

• Drive process automation, technology enhancements, and operational improvements for SBA and USDA programs.
• Standardize workflows for guaranteed lending operations to increase scalability and reduce risk.
• Stays abreast of system requirements, updates, and opportunities.

Qualifications

Education and Experience:

• High school diploma or equivalent; bachelor’s degree in finance, business, or related field preferred.
• 2+ years of experience in SBA loan closing or loan operations.
• Strong understanding of SBA and USDA loan products and regulations.

Skills and Abilities:

• Knowledge of SBA guidelines, loan documentation, and closing procedures.
• Excellent attention to detail and accuracy.
• Strong organizational and time management skills.
• Ability to effectively communicate with clients, attorneys, and internal stakeholders.
• Proficiency in Microsoft Office Suite (Word, Excel, Outlook).
• Strong problem-solving abilities and abilities to work under pressure to meet deadlines.

Working Conditions:

Full-time position. This position is office-based with occasional remote work flexibility, if applicable. Position may require occasional travel.

Physical Requirements:

Ability to sit for extended periods and use a computer.
Occasional lifting of files or office materials (up to 20 lbs).