About
iBusiness FundingiBusiness Funding is a leader in providing innovative Software as a Service (SaaS) solutions for banks and lenders, with a specialization in SBA lending. We build scalable lending platforms that streamline the business lending process, allowing lenders to efficiently deliver capital to small and medium-sized businesses.To date, we’ve processed over $7 billion in SBA loans and handle more than 1,000 business loan applications daily. Our team is driven by our core values of innovation, integrity, enjoyment, and family.As a top five SBA 7(a) preferred lender, our parent company offers SBA express and small loan capabilities.
Join us and be part of a team that’s transforming the finance industry and empowering businesses to thrive!Position Description:We are looking for an SBA Jr. Loan Closer to join our dynamic and growing team!Major Areas of Responsibility:
- Process approved loan applications in accordance with applicable policies, SBA SOPs, state, and local lending laws.
- Perform due diligence on loan file and documentation received.
- Review and analyze items received to ensure file is accurately documented.
- Ability to prepare, review and make determinations on acceptability of loan closing documents. Interact with closing counsel and deal team to obtain necessary documentation required for loan file and to accomplishaccurate and timely closing/funding of loan transactions in accordance with credit approval memorandums.
- Communicate and interact regularly with federal and state regulators and agencies.
- Exhibit expertise on the content of standard loan closing documents and answer customer generated questions.
Other Essential Duties and Responsibilities:
- Review Commitment Letter and Credit Memo within 24 hours of receipt of file, conduct introductory call to borrower and prepare/send Closing Checklist detailing documentation required for loan closings.
- Upon receipt of a loan package, exercise discretion in reviewing, analyzing, and determining closing requirements.
- Follow up, review, and approve all Closing checklist/borrower due diligence items required for loan closing.
- Regularly liaise with federal and state regulators.
- Analyze supporting documents provided by borrowers and third parties to determine if they meet Company approvals/standards and make decision that loan is thoroughly documented in accordance with Company and SBA policies and credit approval memorandums.
- Maintain excellent level of customer service by being responsive to calls and emails from borrower and inside staff regarding loans in process within 24 hours of receipt.
- Order appropriate third-party searches (flood, good standing certificates, UCC, title, judgment, and bankruptcy) for all borrowers/guarantors.
- Compliant with Company policies/procedures and have knowledge of SBA SOPs and regulations.
- Prepare and review all required SBA, legal and state specific documents required for loan closing.
- Become an integral part of the SBA Closing Team.
- Responsible for following updated SBA policy notifications when issued.
- Act as liaison between Borrower and relevant internal teams to coordinate document preparation, loan signing, funding, and closing.
- Review and approve closing packages, and outstanding loan conditions as applicable.
- Prepare funding information sheets detailing wiring information and use of loan proceeds.
- Prepare closing packages of documents and ensure legal file is following Company policies before transferring for Compliance Review.
- Adhere to turn time requirements.
- Additional duties as requested including review and closing of Conventional loans.
Qualifications for Success:
- Bachelor’s degree preferred but not required.
- Basic credit skills required.
- Ability to prioritize and operate with a sense of urgency.
- Strong verbal and written communication skills
- Organized, detail-oriented, and able to multi-task.
- Ability to work collaboratively with multiple stakeholders.
- Ability to answer loan document related questions from borrowers and referral sources.
- Previous SBA or closing experience preferred.
United States, Remote, Base salary range of: $45,000 - $55,000 + benefitsConclusion: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.
