SBA Business Development Associate

Socket.dev; Memphis (TN); On-site; USD 52,000 - 76,000; Full time

Job summary

Socket.dev in Memphis, TN is seeking an SBA Business Development Associate to develop and onboard new loan opportunities in SBA 7a and 504 programs. You will coordinate SBA loan applications and provide complete packages to the credit department.

You will work with BDOs to gather required information, run necessary reports, and ensure all items are documented and submitted accurately. Some travel may be required for training and conferences.

Qualifications

• Minimum of three years of customer service experience or relevant financial services experience.
• Proficient with Microsoft Office suite, especially Excel.
• Strong written and verbal communication skills; accurate keyboarding and grammar.

Responsibilities

• Work within SPARK to gather items for credit worthiness and SBA eligibility assessment.
• Coordinate information with BDOs to ensure complete loan submission.
• Run reports for loan submission including Credit, CAIVRS, OFAC, Clear.
• Validate submission checklist and certify all items are received.
• Assist in preparing Loan Summary to reflect the business and requested loan.
• Submit a complete loan application package to the SBA Production Specialist.
• Facilitate information transfer between groups and track items received.
• Oversee multiple transactions to keep Pipeline Report current.
• Comply with bank regulations and stay updated on changes.
• Maintain knowledge of BSA, Regulation CC, E, Bank Security, and related regs.

Skills

Customer service

Excel

Microsoft Office

Job description

Job Description:

The SBA Business Development Associate will work closely with SBA Management and BDO's to effectively develop and onboard new loan opportunities in the SBA 7a and 504 loan programs. Must be able to coordinate SBA loan applications and provide the SBA credit department with complete packages.

Main Job Tasks and Responsibilities:

• Work within our processing system SPARK to gather a list of items needed to complete an assessment of the credit worthiness and SBA eligibility of the loan request.
• Responsible for working with the BDO’s to ensure information is obtained/received for a complete loan submission.
• Run required reports for loan submission. Credit, CAIVRS, OFAC, Clear.
• Validate Submission Checklist for borrower folder contents and certify all items have been received.
• Responsible for addressing all obvious credit issues in the file and assisting the BDO in the preparation of the Loan Summary to ensure it accurately represents the business and the requested loan.
• Responsible for submitting a complete and accurate loan application package for review to the SBA Production Specialist.
• Facilitate transfer of information (written and verbal) between multiple groups, keeping track of items received and those still needed.
• Oversee multiple transactions concurrently to ensure all active loan applications are moving forward and current status is reported on the Pipeline Report.
• Demonstrate compliance with all bank regulations that apply to your position and keep up to date on regulation changes.
• Maintain working knowledge of our policies and procedures regarding the Bank Secrecy Act, Regulation CC, Regulation E, Bank Security, and other regulations that apply to your position.

Education and Experience:

• Minimum of three years of customer service experience or relevant work experience in the financial services.
• Microsoft Office suite required- Strong Excel skills.

Key Competencies:

• Must possess accurate keyboard, spelling and grammar skills as well as superior written and oral communication skills.
• Must possess the ability to set priorities, manage tasks and meet.
• Must be willing and capable of defining problems and taking initiative to propose practical.
• Some travel may be required on an as needed basis to attend training and conferences.