SBA Lending Closing Specialist (Remote Work Option)

First Horizon National Corp. Little Rock , AR 72215

Posted 2 months ago

Location: Can be remote

Position Overview:

The SBA Closing Specialist is responsible for completing and reviewing loan files as well as ordering due diligence associated with the satisfaction of approval conditions prior to the preparation of loan closing documents for approved SBA guaranteed loan transactions. These responsibilities include requesting, reviewing and critical interpretation of vendor documents needed to prepare loan closing documents for real estate and non-real estate secured loans originated by Commercial Lending Relationship Managers and SBA Product Specialists. Vendor documents consist of but are not limited to the following: residential and commercial appraisals, valuation services, environmental reports, flood certifications, entity documentation, tax returns, lease agreements, life insurance policies, UCC searches, title searches and any other documents as required by the bank and/or SBA.

The position will be responsible for application entry into SBA specific software and is the key liaison in reviewing and communicating file variances to the deal team members. The SBA Closing Specialist is expected to effectively communicate file findings to minimize the average time between the issuance of a final underwriting decision and the request for loan documentation and due diligence. Working independently and under minimal supervision, the position performs a wide variety of administrative functions relating to proper documentation and file adequacy and does have to make determinations on the banks behalf to determine SBA eligibility.

Duties & Responsibilities:

  • Process SBA 7(a) loans and 504 loans from credit approval through closing and disbursement with strict adherence to SBA SOP's

  • Determine/Verify SBA Eligibility on loan requests

  • Determine post underwriting requirements needed for SBA submission

  • Prepare SBA Application forms and SBA Authorization

  • Issue package and initial closing checklists to field representative or client

  • Review package for completeness, collect needed documentation and submit for approval/authorization

  • Satisfy all requirements of the authorization including documentation of equity injection, due diligence, lease agreements, life insurance etc.

  • Ensure applications are processed and closed/funded according to SBA SOP lending guidelines

  • Uses checklists and tools to review and determine requirements based on product type

  • Work with Closing Attorney to do any necessary work around title search findings, UCC search findings or other issues related to perfecting liens in collateral

  • Order Flood Certification

  • Review Operating Agreements/Formation Documents

  • Review items to ensure loan documents are accurate and the Bank's lien is properly perfected.

  • Provide timely feedback to SBA Product Specialists regarding missed or needed information.

  • Ensures all due diligence information is properly documented and imaged into the appropriate application image file folders

Requirements:

  • Bachelor's degree or equivalent work experience

  • At least 3 years of US Small Business Administration Lending Program Concentration (emphasis on 7(a))

  • At least 5 years of commercial loan and/or SBA documentation experience

  • Ability to identify documentation and due diligence issues

  • Ability to assure proper receipt and execution of documents

  • Ability to identify and escalate variances (as appropriate)

  • Ability to offer appropriate resolutions to mitigate risk

  • Ability to think independently and as team player

  • Ability to meet deadlines under pressure

  • Preferred: Thorough knowledge of ALS, ACBS, LaserPro, PCFS and other First Horizon Bank internal banking systems to include SBA Loan Packaging Software.

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SBA Lending Closing Specialist (Remote Work Option)

First Horizon National Corp.