Small Business Lending Intern

Lake Michigan Credit Union; Grand Rapids (MI); On-site; USD 18,000 - 22,000; Part time

Job summary

Lake Michigan Credit Union is seeking a Small Business Lending Intern in Grand Rapids, MI to assist with loan processing within the Small Business Lending Program. This role offers 20-25 hours per week as a part-time hourly position.

The intern will monitor the CRM platform, assist with loan closing tasks, collect borrower documents, and support loan servicing while ensuring compliance with relevant lending policies and regulatory requirements.

Qualifications

• College student freshman to master level with focus in business is preferred.
• Excellent written and verbal communication skills.
• 3.0 GPA or greater.
• Available for 20-25 hours/week.

Responsibilities

• Monitor Lender AI CRM platform and follow up on applications for the Small Business Lending loan program.
• Perform loan closing tasks for the Small Business Lending loan program, including onboarding, lien perfection, and post-close due diligence.
• Collect all necessary loan documentation from borrower(s) pertinent to the Small Business Lending request.
• Perform Small Business Lending loan servicing as a secondary contact for member loan questions, payment issues, and other inquiries.
• Conduct general loan maintenance, such as address changes, ACH information, and payment adjustments.
• Comply with applicable laws and regulations, including the Bank Secrecy Act, Patriot Act, and OFAC.

Skills

Communication skills

Education

Business-focused student

GPA 3.0 or greater

Job description

Job Title: Small Business Lending Intern

Primary Location: Grand Rapids, MI

Employee Status: Part Time Hourly

Estimated Hours/Week: 20-25

About this Position:

The Small Business Lending Intern will assist with loan processing for the Small Business Lending Program while adhering to the current Small Business Lending Standard Operating Procedures in force at the time the loan is being processed.

What You'll be doing:

• Monitoring Lender AI CRM platform and following up on applications for the credit union's Small Business Lending loan program.
• Performing all loan closing tasks for the Small Business Lending loan program. Tasks may include loan onboarding, generating loan documents for processing loans, lien perfection, and post-close due diligence to ensure completeness, accuracy, and compliance with Small Business Lending policy.
• Collecting all necessary loan documentation from borrower(s) pertinent to the Small Business Lending request. Documents may include business and personal tax returns, vehicle titles, insurance, and other applicable items.
• Performing Small Business Lending loan servicing as a secondary contact for member loan questions, payment issues, and other general inquiries.
• Conducting general loan maintenance, such as address changes, ACH information, payment adjustments, and more.
• Complying with applicable laws and regulations, including but not limited to, the Bank Secrecy Act, the Patriot Act, and the Office of Foreign Assets Control.

What you’ll bring:

• College student freshman, sophomore, junior, senior or master level status or a recent college graduate within the last 3 months with a focus in a business related field is preferred.
• Excellent written and verbal communication skills.
• 3.0 GPA or greater.

Who We Are:

We're proud of our past, thrilled with our present, and couldn't be more excited about our future! Lake Michigan Credit Union has grown to become one of the largest credit unions in the nation with our headquarters in West Michigan. As a credit union, LMCU is a not for profit institution, owned by its members, instead of corporate stock holders. We are accountable directly to our members, and they directly share in our success - benefitting by lower and fewer fees, better savings and checking interest rates, lower cost mortgages and a host of other advantages that simply don't exist at traditional banks. It's about always doing what's best and right for our members - it guides everything we do. From friendly, knowledgeable and professional employees who greet you by name, to offering stellar value at every turn, LMCU works for its members. Working with LMCU you can grow and advance in your career and work with talented teams that help you become better each and every day. As an employee you can have confidence in knowing your work is having an impact by supporting our mission of serving our members' lifetime financial needs. You'll be encouraged to innovate and excel and we're committed to your empowerment as an employee, providing ongoing training, development, support, and opportunities for you to achieve your career goals.

Have additional questions about the role?

LMCU is an Equal Opportunity Employer