Loan Packaging and Closing Specialist
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About the Position
Working closely with CRF’s small business lending team, Credit Analysts, and customers, the Loan Packaging and Closing Specialist is responsible to provide general administrative and technical support for the Small Business Lending team. The Loan Packaging and Closing Specialist will focus mostly on activity in support of the loan packaging, closing, and disbursement process. The position is responsible for ensuring client service standards, loan documentation, file maintenance, SBA 7(a) compliance and regulatory requirements. Key responsibilities include preparation SBA 7(a) loan packages, forms, reports, and loan documents; maintenance of files; customer contact and correspondence; funding and document review.
The Loan Packaging and Closing Specialist will report to the Director of Loan Packaging and Closing and will work closely with the Lending team and Credit team. Additionally, the Credit Analyst II will work and connect cross-departmentally with the Portfolio Management, Loan Servicing, and Finance team and other departments in the organization as well as external clients and vendors.
Key Responsibilities & Accountabilities
- Manage and track the loan process for all SBA 7a and CRF product loans
- Review and organize all documents for the loan
- Order and review all third party reports – discuss any deficiencies with underwriter, Director of Loan Packing and Closing, and the Lender
- Prepare and manage documents for the loan closing adhering to all regulatory/program requirements and organizational guidelines
- Track equity injections
- Partner with the borrower to coordinate closing date and time and facilitate the loan closing
- Review, track, and manage the disbursement process
- Guide and assist the borrower through the preparation and closing to keep the process moving forward
- Collaborate with cross-functional teams, including Sales, Credit, Loan Servicing, and Portfolio Management
- Stay up-to-date with industry and regulatory changes and best practices
About You
- Bachelor’s degree in Business or related field, or a combination of education and experience providing equivalent knowledge
- 3-5 years of experience working with loan document preparation and loan closing both in-person and virtually/closing of small business and/or commercial real estate and construction loans
- Understanding of commercial loan packaging, collateral documentation, construction loan management, loan closing procedures, and disbursement processing procedures and best practices
- Ability to effectively communicate verbally and through written forms of communication
Key Competencies & Preferences
- Familiarity and exposure to working with SBA and familiarity with the SBA SOP
- Experience working with commercial construction loans
- Knowledge and understanding of the CDFI industry
Candidates must reside in and be authorized to work in the United States without sponsorship.
CRF is headquartered in Minneapolis, Minnesota. For a more detailed description of the incredible work we do, how we do it, and who we are, please visit www.crfusa.com.
What We Offer
- Most positions offer flexibility for remote work
- Health, dental, and vision insurance
- 401K with a 5% match – eligible to participate after 6 months
- Paid Time Off (PTO)
- Hybrid Reimbursement Program
- Educational Assistance
- Long-Term and Short-Term Disability
- Life Insurance
- 10 Federal Holidays plus 2 Floating Holidays
How to Apply
Founded in 1988, Community Reinvestment Fund, USA (CRF) is a national non-profit organization with a mission to improve lives and strengthen communities through innovative financial solutions. CRF has injected more than $3.6 billion to stimulate job creation and economic development and support community facilities.