Business Finance Group is a non-profit economic development lender committed to providing access to capital for small businesses through the SBA’s 504 Real Estate and 7A Community Advantage Programs. This position primarily supports the SBA 504 Loan Program, which promotes job creation through the purchase of owner-occupied commercial real estate.
Primary Purpose of the Job: The Loan Closing Administrator assists our closing attorneys, borrowers, banking partners and the SBA to meet closing deadlines and assures the closing is handled in an efficient, courteous and professional manner.
• Expedite loan closings by working with our Closing Attorneys, Title Agents and Insurance providers to compile required documents to match SBA Authorization (similar to a term sheet) in a timely manner
• Co-ordinate receipt of all closing information with our closing attorneys.
• Anticipate and resolve potential delays and communicate with all involved parties.
• Must be detail oriented in order to maintain accurate and complete company records.
• Follow-up periodically with borrower and banker during renovation/construction period prior to 504 funding.
• Consult with loan officers and credit analysts on credit related decisions that affect closing;
• Assure requests for changes are submitted to SBA in a timely fashion to account for internal and SBA processing times
• Provide documentation to SBA’s Central Servicing Agent as needed to ensure appropriate funding.
Other Duties: Cross training with other Closing Department functions will be provided.
At least three (3) years prior experience in documenting loans with a bank or non-bank financing institution, preferably with expertise in SBA Loan Closings and Commercial Real Estate.
• College graduate preferred
• Knowledge of SBA Lending Programs preferred, in particular SBA 504 Loan Program
• Completion of NADCO training programs in 504 Basics and/or Loan Closing preferred but training can be provided.
• Knowledge of Word and Excel
• General office working conditions with occasional day travel to closings; overnight travel for training may be required
• Occasional overtime may be required
• Perform multiple, high priority tasks concurrently