The SBA Eligibility Specialist is responsible for making eligibility determination with regards to Small Business Administration (SBA) eligibility rules. He/she verifies due diligence, approval, and determinations of SBA loans to ensure loan closure in accordance with approval. He/she is responsible for the approval of servicing actions and assists with liquidations of SBA loans. Additionally, he/she will act as a backup for the underwriting process of SBA loans. This position utilizes SBA generalist knowledge and serves as a liaison for all parties contributing to the SBA loan transaction.
SBA Eligibility Determination and Documentation
Determines eligibility of SBA application abiding by SOP rules
Serves as a point of contact for lenders and clients in need of eligibility expertise
Disseminates accurate and consistent information on eligibility requirements; deals directly with client to communicate the terms and benefits of SBA approval
Creatively seeks solutions to eligibility challenges and reviews with manager when not fitting within normal protocol
Completes loan packages in compliance with bank credit policies, SBA SOP’s and regulations;
Ensures loan files contain the documentation needed to avoid SBA repairs or denials of SBA liability;
Oversees the SBA process from borrower list to closing to ensure a smooth process;
Notifies lenders and clients of missing information; keeps abreast of changes to SBA SOP’s and recommends/implements changes needed to ensure compliance
SBA Portfolio Servicing
Work directly with lenders to obtain SBA approval on any servicing actions, including modifications to terms on existing SBA loans.
Prepares packages for obtaining SBA guaranty payment.
Completes file reviews and downgrade file reviews to help ensure the overall soundness of the SBA loan files, SBA portfolio and to ensure a positive outcome on onsite lender reviews.
Serves as a backup for SBA Administrator for handling loan closings and disbursing
Works with lenders and clients on loan accounting and payment issues.
Performs file reviews and audits as assigned.
Assists in maintaining an up-to-date SBA procedures
Acts as backup to SBA underwriting team as needed
Ensures SBA credit requirements are in the file
Offer general consultative and technical support to lenders and analysts in regard to all SBA programs, including SBA 7a and 504 loans
Maintain a high level of knowledge on all SBA loan products along with policy and procedures.
Attend training provided by SBA, NAGGL, or any other applicable resource on SBA loan programs.
About Choice Bank
From the moment we were conceived in 2001, Choice Bank has remained true to our roots, our customers and our communities. Guided by our People First approach—we’re proud that our roots are local, decisions are local and our leadership is local. We focus on building strong relationships with our customers, by providing quick answers, access to decision makers, and solutions that actually work. Our People First values are at the heart of everything we do. To us, that means making genuine connections through passionate and empowered people. Putting people first drives our everyday decisions and influences how we treat our customers, colleagues, and community.