SBA Commercial Loan Underwriter
The SBA Commercial Loan Underwriter will analyze and risk-assess credit applications for SBA 7a and 504 loans to ensure compliance with the Company’s credit risk management strategy, the Company’s credit policy, and the SBA program.
Major Areas of Responsibility:
- Review commercial loan applications and analyze credit information to make a general assessment of applicant’s creditworthiness. Determine whether or not the proposed loan will conform to the Company’s and SBA lending policy.
- Prepare written summary of loan terms and conditions and a written narrative explaining business background, outlining risk factors and justifying assigned risk rating, ensuring conformity with company credit policy and procedures and with applicable companying regulations along with a SBA eligibility worksheet. Pull credit on principals, CAIVRS, Debarment searches, and search online for potential issues.
- Conduct in-depth review and prepare detailed financial analysis of the tax returns, financial statements, business plans and projections presented by applicant businesses along with the tax returns and financial statements of any corporate guarantors and/or affiliate businesses to assess the company’s ability to generate income sufficient to repay existing and proposed debt, and the impact of the corporate guarantors’ and/or affiliates’ performance. Also analyze the personal guarantors’ tax returns and personal needs to determine their impact on global performance.
- Identify risks and assist in structuring the loan to mitigate risks. Assign risk ratings.
- Accompany loan officers on customer calls when feasible. Actively participate with lending officers in the preparation of loan proposals for committee presentation, including review of financial statements, projections and site visits.
- Review construction contracts, leases, appraisals, environmental assessment reports, UCC searches, flood determinations, insurance policies and other information to assess risks associated with the Company’s collateral position. Continue to develop knowledge of appraisal theory and approaches to values.
- Interact with account officers to negotiate loan terms and follow up on information required to decision the application. May contact loan applicants (customers) and their representatives (CPS’s, CFO’s) to obtain clarification about information received from them. Respond to credit applications within the time frame established by the department. Comply with all company policies, procedures, state and federal companying laws and regulations including all SBA SOP guidelines.
- Determine loan request’s eligibility in terms of the company’s policy and guidelines as well as the SBA’s Standard Operating Procedure. Structure transactions in order to meet company’s guidelines and the appropriate SBA loan program.
- Generate a written Credit Approval Package reflecting a full underwriting of the proposed transaction meeting company/SBA standards for approval within 10 days of receipt.
- Prepare and forward all letters of approval or declination in accordance with the company’s internal process.
- Order third party reports (commercial and residential appraisals, environmental reports, business valuations, and equipment appraisals) in accordance with company/SBA standards.
- Provide accurate reporting of all loan updates and status changes within the company’s loan processing, servicing platform systems to include comments, status, and completion of tasks in tracking software utilized by the company.
- Work with the closing department to facilitate the closing of loan requests and handle credit-related issues as needed. Prepare timely modifications as needed to complete loan closing process, confirming approvals are in place (internal, SBA, etc.) when required, and obtain necessary approvals.
- Work with loan servicing to perform annual financial analysis of loans in the portfolio as needed.
- Other duties as assigned, including maintain the company’s fleet vehicles, manager of the company’s Energy Loan Program, maintaining employee PTO records.
Minimum Qualifications:
- Five or more years’ experience in a credit analysis role relative to commercial lending. SBA underwriting experience preferred.
- Thorough knowledge of cash flow analysis, ratio analysis, and projections as well as commercial loan structuring and documentation. Discounted collateral calculation, basic balance sheet ratio analysis, and formal credit training a plus.
- Knowledge of real estate appraisal techniques, field audit examination techniques and companying regulations governing commercial companying.
- Proficient in software applications such as Microsoft Word and Excel.
- Solid qualitative and quantitative analytical skills; excellent conceptual, writing, and communication skills.
- Ability to interface effectively with other companying professionals including loan officers, credit managers, loan closers, appraisers, accountants and auditors.
- Ability to work independently.
- Ability to work under pressure and meet deadlines.
- Bachelor’s degree in business administration, finance, accounting or economics.
Education / Certification Requirements:
Bachelor's degree or equivalent education/work experience.
Degree in finance or accounting is preferred.
Work Environment:
Constantly works with others, around others, with co-workers in other departments and with customers and the general public in person and via telephone. Constantly works indoors, in confined areas.
Frequently works around noise (moderate level). The employee must have the ability to focus on tasks
and customers while hearing machines, conversations of others, music, phones etc., in a confined area.
Job Location: Columbia, SC
Working hours: Monday-Friday 8:45 a.m.-4:45 p.m.