What are the responsibilities and job description for the SBA Underwriter III position at American Momentum Bank?
Summary: Prepares written in-depth credit analysis for SBA 7a, 504 and Express loans by underwriting the basics of commercial credit worthiness and complying with eligibility requirements of the SBA SOP.
Job Functions
Performs Small Business Administration (SBA) audit quality review and approval of loan application and submission documentation (912, citizenship, ownership, and other eligibility) at time of underwriting for full compliance with SBA, 7a, 504 and bank credit standards, and feasibility of the proposed transaction. Use appropriate checklists and file system tools, communicate any deficiencies with team and issue appropriate letters and communications to drive the underwriting process. Work with management to handle more complex issues as needed.
Determines loan request's eligibility in terms of the bank's policy and guidelines as well as the SBA's SOP. Structure transactions in order to meet bank's guidelines and the appropriate SBA loan program.
Communicates with Business Development Officers, internal team members, and others as appropriate.
Prepares detailed financial analyses of borrowing entity, any corporate guarantors and/or affiliates, and principles in the transaction.
Obtains, reviews, and approves credit reports, Lexis Nexis reports, and other documentation for accuracy, compliance, and acceptability for SBA guaranty and bank compliance with regulators.
Generates a written Credit Approval Memorandum reflecting a full underwriting of the proposed transaction meeting SBA/bank standards for approval. The completed analysis includes but is not limited to: financial statement analysis; description of the industry, business history, demographics, management experience and competition; SBA compliance; and the loan request's conformance to credit policy, and the bank's guidance lines when applicable.
Assembles credit committee packages and works with management for presentation to the Sr. SBA Credit Administrator or loan committee for approval as appropriate.
Reviews and approves third-party reports including commercial and residential appraisals, environment reports, business valuations, and equipment appraisals in accordance with bank's/SBA standards for compliance.
Works with the closing department to facilitate the closing of loan requests and handle credit-related issues as needed. Prepare timely modifications as needed to complete loan closing process, confirming approvals are in place (internal, SBA and committee) when required, and obtain necessary approvals.
Excellent problem-solving skills and good process-facilitating.
Job Functions
Performs Small Business Administration (SBA) audit quality review and approval of loan application and submission documentation (912, citizenship, ownership, and other eligibility) at time of underwriting for full compliance with SBA, 7a, 504 and bank credit standards, and feasibility of the proposed transaction. Use appropriate checklists and file system tools, communicate any deficiencies with team and issue appropriate letters and communications to drive the underwriting process. Work with management to handle more complex issues as needed.
Determines loan request's eligibility in terms of the bank's policy and guidelines as well as the SBA's SOP. Structure transactions in order to meet bank's guidelines and the appropriate SBA loan program.
Communicates with Business Development Officers, internal team members, and others as appropriate.
Prepares detailed financial analyses of borrowing entity, any corporate guarantors and/or affiliates, and principles in the transaction.
Obtains, reviews, and approves credit reports, Lexis Nexis reports, and other documentation for accuracy, compliance, and acceptability for SBA guaranty and bank compliance with regulators.
Generates a written Credit Approval Memorandum reflecting a full underwriting of the proposed transaction meeting SBA/bank standards for approval. The completed analysis includes but is not limited to: financial statement analysis; description of the industry, business history, demographics, management experience and competition; SBA compliance; and the loan request's conformance to credit policy, and the bank's guidance lines when applicable.
Assembles credit committee packages and works with management for presentation to the Sr. SBA Credit Administrator or loan committee for approval as appropriate.
Reviews and approves third-party reports including commercial and residential appraisals, environment reports, business valuations, and equipment appraisals in accordance with bank's/SBA standards for compliance.
Works with the closing department to facilitate the closing of loan requests and handle credit-related issues as needed. Prepare timely modifications as needed to complete loan closing process, confirming approvals are in place (internal, SBA and committee) when required, and obtain necessary approvals.
- Will assist with annual reviews of existing SBA 7a loans as assigned by the Sr. SBA
- Complete a monthly work log for submission to the Sr. SBA Credit Administrator for deal tracking and production monitoring.
- May perform other tasks and assist in projects as needed.
- Bachelor's Degree in Business, Finance, Accounting or related discipline.
- Formal Bank Commercial Credit training or equivalent classes offered by third party providers (RMA, ABA, banking associations, NAGGL, etc.).
- 10 years banking/credit experience with 4 years SBA credit analysis experience.
- Strong understanding of SBA SOP eligibility requirements.
- Knowledgeable of computer systems including word processing, databases, and Excel.
- Knowledgeable in financial institution operating policies and procedures and banking regulations state and federal.
- Demonstrated skills in the analysis of business and individual financial statements, tax returns, and cash flow.
Excellent problem-solving skills and good process-facilitating.
- Detail oriented, good organizational, interpersonal, communications and writing skills.