Business Lending Loan Processor

About the role

The Business Loan Processor is responsible for managing the processing of commercial loan applications, ensuring accuracy, completeness, and compliance with company policies and regulatory requirements. This role requires strong attention to detail, excellent communication skills, and the ability to work efficiently in a fast-paced environment.

Responsibilities

• Mail or e-mail loan applications and/or information to members and prospective members as support staff to lenders/Business Development Officers.
• Gather background information on loan applications, researching any discrepancies as support staff to lenders/Business Development Officers.
• Absorb and assist members with the loan application process to ensure completeness of information.
• Ensure that all members are welcomed to the credit union and are assisted professionally in the process.
• Answer questions for members throughout the process. Explain the loan process to include loan options, insurance required on credit union loan products, loan policies, interest rates, payoffs, etc.
• Complete loan applications over the phone or electronically as support staff.
• Review and process business loan applications into Symitar, verifying all required documentation.
• Work closely with business development officers, underwriters, and members to gather necessary information and documentation.
• Ensure compliance with federal, state, and company lending policies.
• Order and review credit reports, appraisals, environmental, flood, title, business financial statements, and other required documentation and submit to third party vendors; image into optical storage.
• Prepare loan files for underwriting and final approval.
• Maintain clear and accurate records of loan transactions and statuses.
• Communicate with borrowers regarding loan conditions, outstanding requirements, and timelines.
• Absorb and assist with loan closings, ensuring all documents are properly signed and recorded.
• Tracking: Homeowner insurance, Title work, Vehicle titles, UCC Expiration, Periodic financial reviews, Rate changes, Maintain a filing system and procedures to monitor that the required documentation is received and maintained appropriately and according to policies and procedures.
• Submit invoices for payment to accounts payable.
• Provide exceptional member service.
• Prepare reports for senior management.

Requirements

This role requires strong attention to detail, excellent communication skills, and the ability to work efficiently in a fast-paced environment. The scheduled work week is Tuesday - Saturday (noon), unless otherwise specified.

Qualifications

• Education: High School Diploma or equivalent.
• Experience: Business lending experience a plus but not required.
• Computer Skills: Basic computer skills including Word and Excel.
• Certifications & Licenses: Valid Driver’s License. Must be insurable.

Benefits

• Affordable medical and prescription, dental, and vision (employer co-pay).
• Flexible Spending Account – Dependent Care & Unreimbursed Medical.
• Basic Life Insurance (employer paid).
• Voluntary Life & AD&D.
• Long Term Disability & Travel AD&D (employer paid).
• Paid Time Off: Vacation, Sick, Personal, 9 paid holidays, and bereavement.
• Community Service Day: Employer paid.
• Bereavement Pay.
• Financial & Retirement Planning.
• Competitive Pay.
• Annual Performance Reviews.
• Incentive Pay: Some positions qualify for incentive pay.
• 401(k): Safe Harbor Non-Elective (employer paid).
• Elective Deferral: Employee contribution, minimum of 1%.
• Company Match: Employer contribution, dollar for dollar, up to 3% of annual compensation.
• Discretionary Profit Sharing.

Physical Demands

N (Not Applicable)

Work Environment

The work environment characteristics described here are representative of those an employee encounters while performing the essential functions of this job in an office setting. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions. While performing the duties of this job, the employee may be in a fast paced, stressful environment. Some outside environmental conditions, especially while traveling to meetings, training, or meeting with members. The noise level in the work environment is usually moderate.