SBA 504 Underwriter

Posted: 04/28/2021

Duties and Responsibilities:
• Responsible for managing all aspects of 504 loan requests from the application stage through closing and debenture funding;
• Responsible for tracking all loans in process via a loan tracking report;
• Work with internal Business Development Officers, Borrowers, and Lending Partners in loan structuring, determining eligibility for SBA 504 loan requests, and the issuance of proposed term sheets
• Responsible for underwriting and preparing the credit approval package to be submitted to CDC loan committee or Board for approval;
• Responsible for gathering and reviewing for accuracy all missing documents required to complete the CDC loan committee/Board package and final application package submitted to SBA for approval;
• Responsible for reading and interpreting financial statements to perform credit analysis for SBA 504 commercial loans and measure against minimum loan criteria. Requires spreading financial statements, calculating ratios, developing financial projections and effectively communicating assumptions and repayment ability in both written and verbal form;
• Responsible for inputting data into Ventures loan management system, packaging request per SBA guidelines, and submission to SBA for approval;
• Responsible for the review and analysis of all credit reports, purchase agreements, appraisals, and environmental & franchise documents received prior to SBA submission for approval;
• Responsible for the verification of tax returns in file against IRS transcripts;
• Responsible for the preparation and submission of all pre-closing modifications to the Loan Authorization to SBA;
• Responsible for interfacing with lenders, SBA, attorneys and borrowers to ensure accurate and timely completion of loan closings;
• Responsible for working with designated attorneys to ensure that documentation is gathered that will allow for an opinion letter to be rendered;
• Responsible for reviewing, interpreting, and evaluating documents received from lenders and/or borrowers for loan closing accuracy and sufficiency;
• Responsible for reviewing all equity and loan draw backup from third party and interim loan funding for adequacy and eligibility;
• Responsible for transitioning loan file to SBA Servicing; post funding;
• Responsible in concert with the SBA 504 Credit Officer and Loan Servicing Manager for post loan closing reviews with independent third-party professionals or SBA officials;
• Responsible in concert with the SBA 504 Credit Officer and Servicing Manager for annual risk rating reviews as directed.
 
Skills/Qualifications:
• Bachelor's degree from four-year college or university preferably in Finance or Accounting; and/or 3-6 years related experience and/or training; or equivalent combination of education and experience
• 3 – 5 years of experience in commercial loan underwriting, processing, packaging, and closing as it relates to SBA lending
• Experience underwriting SBA 7A and/ or 504 loans
• Experience closing and funding commercial loans, SBA 504 loans a plus
• Experience in financial statement analysis; formal credit training a plus
• Ability to work independently, analyze, problem-solve, and make sound decisions based on SBA and internally established policies and procedures
• Exceptional attention to detail with strong follow-through skills
• Excellent verbal and written communication skills
• Strong computer skills with a knowledge of Microsoft Office Suite, particularly Word and Excel
• Excellent time management and project management skills; must be able to track and manage details for multiple clients and projects, and prioritize against daily responsibilities;
• Strong people and communications skills are essential. Must be able to interact and cooperate with various personality types and work levels both internally and externally.
 
 

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