Commercial Loan Coordinator I

Mercantile Bank; West Branch (MI); On-site; USD 42,000 - 62,000; Full time

Benefits offered by this job

Medical, dental, vision

Flexible spending account (FSA)

Paid vacation and sick time

Life insurance

401(k) with match

Job summary

Mercantile Bank in West Branch, MI is hiring a full-time Commercial Loan Coordinator I to join our Commercial Lending team. The role involves researching and assembling loan documentation, performing due diligence, and coordinating with lenders and customers to move loans toward closing.

Ideal candidates will have 1-3 years in a professional setting and/or banking, plus strong communication skills. The position offers a competitive wage and a full benefits package with 401(k) match and other

Qualifications

• High school diploma or GED.
• 1-3 years' experience in a professional setting.
• 1-3 years' banking experience with a basic understanding of the lending process.
• Commercial Banking experience preferred.
• Experience utilizing technology and multiple software systems.
• Reliable and organized with ability to multi-task.
• Ability to work independently and in a team environment.
• Excellent communication skills.
• Ability to work overtime when necessary.
• Minimal day travel may be required.

Responsibilities

• Research, assemble, and verify all required information for completing commercial loan document packages.
• Obtain due diligence and review documents including title commitments, identity papers, lien searches, flood determinations, surveys, environmental due diligence, appraisals and regulatory disclosures.
• Stay in the know by partnering with Commercial Lenders to understand upcoming loans and workload.
• Prepare correct loan documentation for closing and analyze complex entity structures and collateral; gather supporting documentation for analysis.
• Coordinate with other departments, customers, and outside counsel to ensure documentation to proceed to closing.
• Answer department phones and emails to support customers, disburse funds at closing, respond to inquiries about loan status, collateral, and payments; manage correspondence and filing.

Skills

Communication skills

Teamwork & independence

Multi-tasking

Technology & software

Reliable & organized

Overtime flexibility

Education

High school diploma or GED

Job description

Mercantile Bank in West Branch, MI is looking to hire a full-time Commercial Loan Coordinator I. Do you love to solve problems? Do you like to learn and have a lot of variety in your work? Do you enjoy working independently AND collaborating and supporting a winning team? If so, please read on!

Commercial Loan Coordinators receive a competitive wage based on skills and experience. You would be eligible for a full benefits package that includes medical, dental, vision, a flexible spending account (FSA), paid vacation and sick time, life insurance, a 401(k) with a match at 100% up to the first 5% of your contribution, discounted bank services, adoption assistance, exceptional training and development opportunities, and more!

MERCANTILE BANK STORY

Founded in 1997 with the firm belief that our customers, employees, and communities are best served by financial institutions with local ties, we have a strong and extensive commercial and retail banking presence in Michigan. We work together to solve problems and are leaders in the industry when it comes to innovative products. As a community bank, we are able to offer products that are tailored to meet the unique needs of our local customers.

A DAY IN THE LIFE OF A COMMERCIAL LOAN COORDINATOR I

You have an integral role in the Commercial Lending department, ensuring our customer's requests are met and fulfilled in the most efficient and timely way. We take pride in excellence and this shows when you work with this team.

You will research, assemble, and verify all required information required for completing commercial loan document packages. This includes obtaining all required due diligence and review of documents including, but not limited to: real estate title commitments, identity papers (Corporations, LLC's, Partnerships, etc.), lien searches, flood determinations, surveys, environmental due diligence, appraisals and regulatory disclosures.

Our work is fast paced, so you will need to be prepared and organized. You will "stay in the know" by partnering with Commercial Lenders to gain understanding of loans that will be coming through for processing and on upcoming workload.

Preparing the correct loan documentation for closing using information gathered, analyze complex entity structures and complex collateral and gather supporting documentation and verification needed for analysis. You will partner with other departments within the Commercial Lending department, customers and maybe outside counsel to ensure we have appropriate documentation to proceed to closing.

You will answer the department phone and emails to support customers by disbursing funds at closing, answering inquiries regarding loan status, collateral, loan payments, etc. You will prepare outgoing mail and correspondence, including e-mail and faxes, prepare wire transfer requests, verify funds, obtain proper approval authority and general follow through, organize and maintain electronic filing system and coordinate and arrange meetings, conference calls and conference rooms.

Qualifications

• High school diploma or GED
• 1-3 years' experience in a professional setting
• 1-3 years' banking experience with a basic understanding of the lending process
• Commercial Banking experience preferred
• Experience utilizing technology and multiple software systems
• Reliable and organized with ability to multi-task
• Ability to work independently and in a team environment
• Excellent communication skills
• Ability to work overtime when necessary
• Minimal day travel may be required

WORK SCHEDULE AND LOCATION

This position will be onsite at our location in West Branch, MI. Office hours are Monday - Friday, 8:00 am - 5:00 pm.