Construction Loan Coordinator

BD Capital; New Jersey; On-site; USD 55,000 - 70,000; Full time

Benefits offered by this job

Competitive salary

Comprehensive benefits

Growth opportunities

Job summary

BD Capital in Warren, NJ is seeking a Construction Loan Coordinator to oversee the construction draw process for borrowers, ensuring accurate funding amounts, inspections, and risk mitigation.

The ideal candidate will have strong organizational and communication skills, a solid understanding of residential/multi-family construction, and experience in construction loan administration. This role is in-person with hybrid Fridays.

Qualifications

• Detailed understanding of residential and/or multi family construction.
• Prior experience in construction loan administration, real estate, or construction related field.
• Strong understanding of construction budgeting and financial tracking.
• Exceptional organizational skills with the ability to manage multiple priorities.
• Excellent written and verbal communication skills.
• Familiarity with loan terms/agreements.

Responsibilities

• Oversee the entire construction draw process for borrowers, ensuring smooth and timely funding.
• Monitor project budgets and track expenditures to ensure funds are properly allocated.
• Communicate and educate borrowers about inspection/draw process
• Serve as the primary point of contact for borrowers, inspectors, and other involved parties.
• Coordinate with title companies to order date down endorsements
• Manage and forecast draw volume inline with our accounting department for cash flow purposes
• Monitor inspection requests to ensure timely and accurate evaluations.
• Analyze inspection reports to verify that work has been completed as per the budget
• Adjust inspection reports as needed to fairly evaluate completed work.
• Collaborate with capital partners to submit reimbursement requests for funded draws.

Skills

Residential & multifamily construction

Construction loan administration

Budgeting & financial tracking

Organization & multi-tasking

Written & verbal communication

Loan terms & agreements

Job description

BD Capital is a direct private lender specializing in fast, flexible, and innovative financing solutions for real estate investors and developers. Established in 2015, BD Capital provides construction financing for a wide range of residential projects, including new construction and renovations on single-family homes, townhomes, multifamily properties, and large-scale developments.

BD Capital combines the speed and flexibility of a private lender with the professionalism and resources of an institutional platform. With a relationship-driven, family-office approach, the company offers competitive financing solutions tailored to each borrower and project while providing a high level of service throughout the life of the loan.

Job Description:

We are looking for a motivated and detail-oriented Construction Loan Coordinator to join our team. This role is essential in overseeing the construction draw process for borrowers, ensuring accurate funding amounts, inspections, and risk mitigation. The ideal candidate will possess excellent organizational and communication skills, a strong understanding of construction, and the ability to collaborate effectively.

Estimated Salary Range: $55,000 - $70,000 ; Based on experience

Key Responsibilities:

• Oversee the entire construction draw process for borrowers, ensuring smooth and timely funding.
• Monitor project budgets and track expenditures to ensure funds are properly allocated.
• Communicate and educate borrowers about inspection/draw process
• Serve as the primary point of contact for borrowers, inspectors, and other involved parties.
• Coordinate with title companies to order date down endorsements
• Manage and forecast draw volume inline with our accounting department for cash flow purposes

Inspection Coordination and Review

• Monitor inspection requests to ensure timely and accurate evaluations.
• Analyze inspection reports to verify that work has been completed as per the budget
• Adjust inspection reports as needed to fairly evaluate completed work.

Future Growth

• BD Capital is rapidly growing, creating opportunities for employees to take on increased responsibility and expand their careers within the Construction & Asset Management division. Team members will gain exposure to various aspects of the business and have opportunities to develop a broad understanding of construction lending and asset management.
• Identify and mitigate financial risks in the draw process, such as potential shortfalls, overpayments, or contingency requests.
• Report budget reallocations or funding concerns to management for review.
• Collaborate with capital partners to submit reimbursement requests for funded draws.

Qualifications:

• Detailed understanding of residential and/or multi family construction.
• Prior experience in construction loan administration, real estate, or construction related field.
• Strong understanding of construction budgeting and financial tracking.
• Exceptional organizational skills with the ability to manage multiple priorities.
• Excellent written and verbal communication skills.
• Familiarity with loan terms/agreements

What We Offer:

• Competitive salary and comprehensive benefits package.
• Opportunity to work in a collaborative and dynamic environment.
• Room for professional growth and development within the organization.

Job Type: Full-time

• Paid time off

Ability to Commute:

• Warren, NJ 07059 (Required)

Work Location: In person with hybrid on Fridays