What are the responsibilities and job description for the SBA Closer position at Grasshopper Bank?
SBA Closer
Department : SBA Lending
Employment Type : Full Time
Location : Remote
Reporting To : Cassie Kindle
Description
Grasshopper Bank is a client-first , digital bank built for the business and innovation economy, with an obsession for providing leading-edge technology, solutions-driven products and superior service through a combination of passionate people and digital resources.
We are a highly experienced team who pride ourselves on diversity of thought and perspective . Nationally chartered, our portfolio of products and services range from VC, PE & Portfolio Companies to SBA Lending, as well as direct SMB and Embedded Banking.
Our entrepreneurial drive allows us to support the growth and success of a wide range of clients at every stage of their business through inclusive partnership . We seek out team members who will enable both our organization and our people to grow and thrive through collaboration and acting with integrity and respect.
Our focus on cross-functional teamwork provides a culture where ideas are valued, accountability is encouraged , and successes are celebrated . We welcome all those searching for the opportunity to contribute to banking innovation that influences and supports the emerging digital world of Financial Services.
Our digital first approach enables our teams the flexibility to work remotely. We have offices in NYC and Boston.
What you'll do :
The position will meet routinely with the SBA Operations Officer and Team Lead to actively manage and oversee all closing functions. The position will be responsible to perform a variety of closing management and oversight duties to ensure accuracy and due diligence of each loan processed in accordance with the SBA SOP and complies with the bank's internal policies.
Responsibilities include :
- Review of approved Credit Memorandum and Commitment Letter to complete list of documentation required for loan closing
- Collection and review of all documentation to verify accuracy and compliance with SBA and Credit conditions in the Credit Memorandum
- Ability to work closely with the Credit Underwriter, Sales, and third parties to build a complete credit and closing file to ensure efficiencies in closing process
- Oversees and manages all pre-closing SBA SOP due diligence documentation prior to closing of SBA loans (i.e. Corporation / LLC / Partnership documents OFAC, CAIVRS, flood certification, vehicle valuations, site inspection, title searches, environmental, appraisal, insurance coverage, collateral description, UCC search, invoices accuracy, bill of sale, equity injection verification, and all other documentation required by SBA)
- Assists with all SBA application documentation collection to encourage timely SBA approval of the transaction
- Enter loans in E-Tran accurately and work closely with SBA and the customer to resolve any compliance issues
- Stay informed and up to date with SBA and bank policy changes to ensure loans are closed in accordance with the current processes and procedures
- Prepares and / or reviews all loan closing documents for accuracy, ensuring all loans comply with the SBA Terms and Conditions, bank approval, and loan policy
- Engages and works closely with closing Attorney and Escrow to facilitate smooth closing and disbursement of loan proceeds in accordance with the SBA Terms and Conditions and the bank's loan approval
- Assists credit and compliance departments as needed in the servicing of the bank's SBA loan portfolio
- Adheres to policy & procedure of SBA Department and must comply with BSA / AML / OFAC regulations and guidelines
- Ability to be self-directed, work independently, and with the SBA team, knowing when to engage assistance from Team Lead or SBA Operations Officer
- Assist in management of clearing outstanding loan documents, post-closing and / or loan exceptions items per each approved credit memo
What you need :
