Senior Underwriter - Small Business Financing

Company Description

Spartan Capital is a prominent fintech firm specializing in revenue-based financing for small and medium-sized businesses across the United States. Utilizing innovative technology and data-driven solutions, Spartan Capital provides fast and flexible working capital options to support entrepreneurial growth. The company serves a broad range of industries, offering efficient alternatives to traditional lending methods. Backed by a dynamic team, Spartan Capital is dedicated to empowering businesses to achieve their financial goals. Learn more at www.spartancapitalgroup.com.

Role Description

This is a full-time, on-site role for a Senior Underwriter specializing in small business financing, based in Hazlet, NJ. The Senior Underwriter will assess credit risk, analyze financial documentation, and determine financing eligibility for small and medium-sized businesses. Responsibilities will include evaluating creditworthiness, conducting risk assessments, preparing loan packages, and providing recommendations to inform credit decisions. Collaboration with internal teams to ensure regulatory compliance, efficient processes, and maintaining accurate records will also be essential to this role.

Required Experience:

Responsibilities and Duties

• Work with the Relationship Managers in structuring, analyzing and negotiating credit transactions
• Must have 4 years of underwriting experience in Merchant Cash Advances (MCA) or Commercial Business Loans (including Asset-Based Lending (ABL) and Lines of Credit (LOCs)) for small to mid-sized businesses (SMBs).
• Must have prior experience in a Senior Underwriter or Underwriting Manager role.
• Must be proficient in pricing decisions (offers and declines) with the ability to manage up to 40 applications per day.
• Must have experience handling final approvals for up to 5 deals per day.
• Perform due diligence on eligible deals (e.g., valuation, credit review, financial document review, merchant research, risk assessment, review site inspections, etc.)
• Review credit reports, business bank & credit card statements, business financials, P&L, Balance Sheets, Tax Returns, and other related financial and diligence information
• Responsible for full-cycle underwriting of assigned small business financing
• Determine the ability of the client to repay financing based on analysis of the client’s cash flow statements, tax returns, and other financial information
• Perform detailed financial analysis on the small business, including trend and ratio analysis, and interpret the financial information to determine credit quality and cash flow adequacy
• Perform credit analysis and financial statement analysis on co-owners, guarantors, and individuals to determine assets coverage for requested loan amounts
• Perform other due diligence as needed to determine the creditworthiness of a small business owner

Qualifications and Skills:

• Bachelor's degree in finance, accounting, business, math or similar discipline
• 2 years’ experience working in one of the following Industries Business Loans /financial institution underwriting small businesses; 2 years in a commercial credit analyst or commercial underwriting role working with small businesses is a plus but not required.
• Strong analytical skills including the ability to read and assess individual and company financial statements, cash flow, industry, and competitive analysis and projections
• Proficient in various spreadsheet and word processing applications (Excel and Word are preferred) including the use of graphs/charts, and Moody's financial analysis software
• Basic knowledge of credit principles, lending operations, loan research, and general credit policies
• Team player with the ability to take the initiative
• Detail-oriented, ability to work well under pressure and multi-task
• Strong written and verbal communication skills
• Problem recognition and resolution skills

This Job Is Ideal for Someone Who Is:

• Dependable -- more reliable than spontaneous
• Detail-oriented -- would rather focus on the details of work than the bigger picture
• Autonomous/Independent -- enjoys working with little direction

Job Type: Full-time

Benefits:

• Dental insurance
• Health insurance
• Life insurance
• Paid time off
• Vision insurance