iBusiness Funding is a technology company focused on our mission to provide working capital to small and medium sized businesses in an efficient and transparent manner. We are committed to our four values of success: innovation, integrity, enjoyment, and family.
Our parent company is a top 15 SBA 7(a) preferred lender with SBA express and small loan capabilities.Position Description:Responsible for supporting and managing team handling a wide array of post-close and servicing activities related to SBA Lending. This position requires an in-depth knowledge of the SBA standard operating procedures for SBA lending. This position requires experience associated with regulatory compliance requirements, reviewing legal language, SBA forms & eligibility and structure of loan documentation including Loan Agreements, Financial Covenants, Subordination Agreements, Operating Agreements, Notes, Guaranty Agreements, Assignment Agreements, Deed of Trust documents, Title Insurance & Endorsements and Property/Liability Insurance documents, etc.
In addition to day-to-day managerial responsibilities, position will be responsible for helping to build out initial scope of our Servicing Department and must have prior SBA Servicing Experience. Such responsibilities include:
- Provide vision, supervision, leadership, and support to the operational team of the SBA Loan Servicing Department
- Build and strengthen team development, engagement, and training within the Department
- Participate in monthly operational meetings with Director of SBA Loan Servicing to develop objectives and action plans for the department
- Keep up to date on Lender policies, SBA policies, USDA policies, and laws and regulations that govern commercial lending.
- Cross train and assist Servicing department with past due liquidations, service actions, and post-closing tickler follow-up, as needed
- Align projects and priorities with the assistance of Director of SBA Loan Servicing
Oversees and Supports Team’s Essential Duties and Responsibilities:
- Assisting with processing of SBA loan servicing requests and annual reviews
- Ordering consumer and business credit reports, appraisals, environmental investigations, site visits, title commitments and other items as requested
- Verifying taxes, insurance (life, hazard, disability, malpractice, etc.), and financial statements are current
- Following up with borrowers for past due payments and exception items
- Transferring loans to problem loan management group for more in-depth loan workout plans
- Responding to customer service inquiries and requests such as balance information, payoff quotes, address changes, etc
- Obtaining appropriate documentation such as forbearance agreements, security agreements, guarantees, etc. to facilitate servicing requests
- Preparing post-closing loan modifications if needed
- Notifying SBA of changes in accordance with SBA's Servicing Matrix through ETRAN system
- Working with borrowers and Servicing team to correct any file deficiencies
- Assisting with the preparation of liquidation packages as requested by the Lender clients
- Submitting requests with any changes or corrections for internal systems
- Ensuring any customer requests, updated documentation, and communication notes are properly stored or recorded
- Filing UCC-3 amendments and continuations as needed
- Monitoring on-going exception report related to fees, billing, loan structure etc
- Completing all post-closing follow up action items not handled by the Compliance team
- Monitoring and tracking the receipt of Vehicle Titles
- Communicating with SBA personnel regarding general questions and requirements
- Other job duties as needed to assure team effectiveness or as assigned by Direction of SBA Loan Servicing
Qualifications for Success:
- Bachelor Degree (preferred)
- SBA experience minimum 3-5 years required
- Experience in people development and team management 3-5 years required
- Excellent Analytical skills
- Excellent communication
- Excellent ability to coordinate across multiple teams / departments
- Strong organizational skills
Physical Demands:The physical demands of the position are typical of those found in a traditional office environment. Employees will not need to walk significant distances nor lift substantial weight. Employee will need to be able to remain seated at a desk for 8-9 hours in a typical workday.Conclusion:This job description is intended to convey information essential to understanding the scope of the job and the general nature and level of work performed by job holders within this job. This job description is not intended to be an exhaustive list of qualifications, skills, efforts, duties, responsibilities or working conditions associated with the position.The company is an equal opportunity employer and will consider all applications without regard to race, sex, age, color, religion, national origin, veteran status, disability, genetic information or any other characteristic protected by law.
