What are the responsibilities and job description for the Loan Servicing Assistant - SBA position at Merchants Bank of Indiana?
Description
The Loan Servicing Assistant is responsible for managing a variety of duties necessary for the servicing of SBA Guaranteed Loans. Responsible for providing quality customer service after loans have closed and funded through payoff. The Loan Servicing Associate will respond to inquiries and/or initiate contact with clients and third parties (insurance agents, etc.). The Loan Servicing Associate will work with the SBA Loan Servicing Manager closely as it relates to working with clients in all aspects of the servicing of the SBA Loans. Expected Outcomes: To make it an easy flow from the time the loan closes until the loan is paid in full. To provide excellent customer service to our borrowers and to be a team player.
You will know you a successful Loan Servicing Assistant if you can do the following confidently and independently...
- Effectively manage Loan Servicing relationships with borrowers.
- Familiarity and understanding of all SBA Loan Servicing policies (SOP)
- Become a proficient user in CSI (our core banking system)
- Review all loan payments as they post in CSI to verify accurate posting to loans.
- Review and support Loan On-Boarding Process.
- Collect and review borrower financials and insurance documentation for accuracy and compliancy. Forward financials to our Portfolio Management Team and contact insurance companies if insurance docs are not filled out correctly.
- Track UCC filings for renewals.
- Exhibit a detailed understanding of Loan Servicing policies and procedures.
- Keep complete and accurate electronic documentation.
- Will become the full back up to the SBA Servicing Manager, which will include completing the 1502 report in a timely manner and making disbursements of unfunded loans, including construction draws.
Requirements
What we are looking for...
- Bachelor’s Degree or Equivalent Work Experience.
- Minimum of 5 years’ experience in a fast-paced work environment with increased responsibilities.
- Knowledge of loan processing and basic accounting as well as legal and closing documents, insurance documents, construction documents etc. - Nice to have.
- Knowledge of SBA Government Guaranteed Loans - preferred
- Proficient in Microsoft Office
About Merchants
Ranked as a top performing U.S. public bank by S&P Global Market Intelligence, Merchants Bancorp is a diversified bank holding company headquartered in Carmel, Indiana operating multiple segments, including Multi-family Mortgage Banking that offers multi-family housing and healthcare facility financing and servicing; Mortgage Warehousing that offers mortgage warehouse financing; and Banking that offers retail and correspondent residential mortgage banking, agricultural lending, and traditional community banking. Merchants Bancorp, with $18.8 billion in assets and $11.9 billion in deposits as of December 31, 2024, conducts its business primarily through its direct and indirect subsidiaries, Merchants Bank of Indiana, Merchants Capital Corp., Merchants Capital Investments, LLC, Merchants Capital Servicing, LLC, Merchants Asset Management, LLC, and Merchants Mortgage, a division of Merchants Bank of Indiana.
Merchants Bank and Merchants Capital have recently been honored with the 2025 USA Today Top Workplaces recognition, ranking 22nd nationally within the 500-999 employee category. This is the second year that Merchants has been recognized with this award. These accolades build on our strong history of workplace recognition, including being named a Best Place to Work in Indiana for seven consecutive years (2016–2022). For more information read the entire article here.