Loan Packaging and Closing Specialist

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
  • 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

Organizational Policies

Community Reinvestment Fund USA, Inc is an affirmative action equal opportunity employer and all qualified applicants will receive consideration for employment without regard to race, color, religion, sex, sexual orientation, gender identity or expression, pregnancy, age, national origin, disability status, genetic information, protected veteran status or any other characteristic protected by law.

Candidates must reside in and be authorized to work in the United States without sponsorship.

CRF’s Theory of Change
CRF’s Theory of Change is the strategic framework used to guide its work. While CRF’s mission remains constant, the Theory of Change outlines how it contributes to the changes it seeks.

The challenge CRF works to address
The current economic system, perpetuated by institutional racism, individual biases and disparities, is unjust. It fosters the inequities that are causing widening disparities in incomes, wealth, and opportunity gaps.

A just economy that works for all
CRF’s Theory of Change is underpinned by the conviction that small businesses are the backbone of our economy, employing nearly half of the U.S. workforce and generating two-thirds of new jobs. CRF believes that providing small businesses equitable access to capital and support services is essential to creating a just economy that works for all.

CRF activates its mission by:

  • Co-creating and deploying innovative financial products and services that address the barriers and inequities small businesses operated by historically excluded people face.
  • Designing and managing financial programs that attract incremental impact capital to communities with a history of underinvestment.
  • Orchestrating a network of trusted small business support organizations enabled by technology.
  • Growing the capacity of community development finance organizations.
  • Helping small businesses navigate the complexities of the small business support ecosystem.

CRF STANDS IN SOLIDARITY
Community Reinvestment Fund, USA (CRF) stands in solidarity with all fighting for social justice, equity, and transformational change. They know that the social changes taking place today will yield a lasting positive impact on the lives of millions.

DIVERSITY, EQUITY & INCLUSION:
CRF is dedicated to building and sustaining a truly diverse, equitable, and inclusive culture. These are not just words on a page – Diversity, Equity & Inclusion are top priorities for the organization, and tie deeply to each of their core values and overall vision for the future. CRF is an equal opportunity employer that evaluate applicants without regard to race, color, national origin, religion, sex, age, marital status, disability, veteran status, sexual orientation, gender identity, or other characteristics protected by law.

CORE VALUES
Create Equitable Economic Opportunities, Lead Through Collaboration, Transform Through Innovation, Excel In All They Do, Act with Integrity.

How We Help
Together with its partners – including community leaders, nonprofit lenders, financial institutions, foundations and more – CRF is creating new strategies and technologies that build stronger local economies, create jobs and support economic mobility.

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.

Department:
Small Business Lending
Location:
Remote
Salary:
$50,000 to $60,000 Annually (exempt)

What We Offer

A collaborative working environment comprised of driven and highly engaged individuals committed to diversity, equity, and inclusion and the mission, vision and values of CRF. CRF is proud to extend its employees a wide array of benefits including, but not limited to:
  • Health and dental insurance
  • 401k and Roth IRA
  • Paid Time Off (PTO)
  • Educational Assistance
  • Hybrid Reimbursement Programs
  • Long-Term and Short-Term Disability
  • Life Insurance
  • Flexible schedules and telecommuting options
  • 10 Federal Holidays plus 2 Floating Holidays

How to Apply

To apply for this or other positions, please send your resume to: recruiting@crfusa.com
Community Reinvestment Fund USA, Inc is an affirmative action equal opportunity employer, and all qualified applicants will receive consideration for employment without regard to race, color, religion, sex, sexual orientation, gender identity or expression, pregnancy, age, national origin, disability status, genetic information, protected veteran status or any other characteristic protected by law.
CRF USA, Inc. requires all employees to be vaccinated for COVID-19. As a condition of hire with CRF USA, Inc. candidates must be able to show proof of vaccination for COVID-19 prior to an extension of an offer of employment. Accommodations will be considered for disabilities or sincerely held religious beliefs.
Candidates must reside in and be authorized to work in the United States without sponsorship.

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