Sr. Loan Processor
WFH Flexible San Diego, CA

The Senior Loan Processors for the 504 and Morgan Stanley loan programs will work in partnership with CDC Loan Officers, Staff Assistants, Credit Analyst and the Funding department to successfully enroll, package, approve and fund SBA 504 loans. Additionally, in an effort to provide our Loan Officers with more time to establish new lending and broker relationships, Sr. Loan Processors will provide a basic review of the appraisal and environmental reports as well as prepare the submittal coversheet. Any reports requiring a more in depth review will be the reviewed by the Loan Officer. The Loan Processor is responsible for maintaining the integrity of the file and ensuring that all fundamental file parameters are met in accordance with the U.S. Small Business Administration’s Standard Operating Procedures as well as CDC Small Business Finance internal guidelines.

Essential Functions:

1) Loan File Processing:

  • Monitor all production of assigned loan files to insure that files are moving forward toward SBA loan approval and SBA loan funding. You are encouraged to build tools using CDC Ventures that will provide you and your team with real-time information on all Active Files with quick reference to file status
  • Regular communication with Loan Officers and at times external partners to include updates on file status (processing, approval, funding), deficiencies in file content, SBA actions, Third Party Lender and Borrower issues, and any other relevant matters
  •  Develop and send a Client Checklist of items required to complete the loan file for purposes of submittal to the SBA
  • Work directly with the appropriate party/parties to receive all client checklist items in a timely manner
  • Review Client Checklist items as received for accuracy and completeness
  •  Ensure IRS verifications are complete when necessary per loan program requirements
  • Utilize Staff Assistants for obtaining all business and personal credit searches, IRS verifications, CAIVRS and Lexis Nexis reports
  • Maintain accurate and complete loan file in BMI throughout loan process. Files should be uploaded at the initial, credit, approval and funding stages.
  •  Proactively work on loan files to ensure that all applicable escrow deadlines are met and that loan file is funded quickly post SBA approval

2) Database Input:

  • Input required data into CDC Ventures+ database for all loan files
  • Generate CDC/SBA forms as applicable to loan file and loan program
  • Update CDC Ventures+ database with any changes as they occur throughout the loan process

3) Coordination and Communication:

  •  Communicate both verbally and via email with borrowers, lenders, brokers, CDC Attorneys, and internal CDC staff as necessary to move loan file through process in a timely manner
  • Notify CDC Underwriting for SLPC memo preparation and monitor progress
  • Submit loan file to SBA for approval
  •  Coordinate necessary responses to SBA screen outs and declines
  • Review and submit the appraisal and environmental reports to SBA for review and clearance
  • Provide copy of SBA signed authorization to appropriate party/parties
  • Obtain all trailing documents and the signed SBA Authorization from borrower within required time frame
  •  Correct any discrepancies/changes required in authorization via a 327 action and log into CDC Ventures+
  • Determine estimated funding date and lender closing contact for debenture funding on 504 loans
  • Submit complete file to Funding Department when improvements or equipment are including in the project costs
  • Work with CDC attorney and any additional contacts required to fund the SBA loan 
  • Regularly update Loan Officers on status of each loan file

4) Other miscellaneous duties as required by Supervisor.

  • Minimum of 5 years of experience in commercial loan processing or two years of experience in customer service. 
  • Proficiency with MS Office applications. Ability to prioritize, multi-task, and remain organized. 
  • Strong written and verbal communication skills. 
  • Agile and open to change. 

Education: High School Diploma 

Physical Requirements: Ability to lift 10 lbs.