1st Financial Bank USA (“1FBUSA”), a full-service community bank located in South Dakota, and its wholly-owned subsidiary, Builder Finance Inc. (“BFI”), a lender serving home builders and rental property investors from coast-to-coast, is looking to hire a motivated commercial lender to help build and expand the Bank’s existing credit offerings through his or her knowledge of the U.S. Small Business Administration (“SBA”) loan guaranty programs. The ideal candidate will have knowledge in all facets of the SBA loan guaranty programs, including, originating, underwriting, packaging, closing, and servicing of the loans. A successful hire will be an individual who identifies as a self-starter with a drive to succeed.
The SBA Loan Officer will work with management to expand its portfolio of quality loans to existing and new customers through the utilization of SBA’s 7(a) loan programs. Through collaboration with the other lending teams at the Bank, this role will be integral in the creation and implementation of policies and processes surrounding the delivery of government guaranty lending program offerings to the Bank’s customers. Existing lending teams will work closely with the SBA Loan Officer to facilitate successful loan closings. The Bank intends to continue growing the SBA lending team as the portfolio grows, allowing the SBA Loan Officer to prioritize originations.
Applicants must have experience with SBA lending and a thorough understanding of the SBA’s Standard Operating Procedures (“SOP”). The ideal candidate will demonstrate the ability to work well within a small, collegial team. Preferred additional qualities include entrepreneurial ambition, self-reliant work ethic, adaptable, great attention to detail, and a “commercial” disposition.
Essential Job Functions:
Responsible for ensuring that the Bank remains in compliance with the SBA’s SOP as well as internal lending policies and procedures.
Responsible for document requests from, and interviews with, prospective borrowers
Analyze financial statements, perform cash flow analysis, review other business and industry data, review collateral availability, and review strength and experience of guarantors in order to determine credit worthiness and SBA eligibility
Responsible for compiling the loan request, identifying strengths and weaknesses of credit, and presenting the loan request to the credit committee.
Responsible for the ordering of 3rd party reports
Perform appropriate UCC searches to ensure priority lien
Preparation and execution of all relevant SBA documents
Uploading and submission of the completed application documents to the SBA
Addressing any and all SBA concerns or questions on submitted files
Responsibility adhering to conditions in the SBA Authorization
Closing and Servicing:
Coordination with 3rd party vendors on the preparation of the appropriate closing documents
Coordination with borrower on closing
Ensuring the recording/perfection of relevant liens
Managing 1502 Reporting Requirements
Set up and maintain tickler to ensure ongoing loan conditions are adhered to, including; relevant inspections and draws, ensuring appropriate insurances are maintained, annual collection and review of financials, loan modifications, and Colson Reporting
Experience: At least 3 years doing SBA lending
Additional Salary Information: Compensation is generous and commensurate with experience.
About 1st Financial Bank USA
1st Financial Bank USA (1FBUSA), in existence for more than 100 years, provides consumer credit services to a nationwide customer base in a small, friendly, team-oriented environment.
1FBUSA and its subsidiaries have multiple operations in a variety of diverse and unique locations.
At its Dakota Dunes, Dupree and Sioux Falls locations, 1FBUSA operates credit card processing facilities and community bank offices focused on customer service, collections, payment processing, retail banking and insurance services.
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