Collections Specialist

About iBusiness Funding 

iBusiness Funding is a leader in providing innovative Software as a Service (SaaS) solutions for banks and lenders, with a specialization in SBA lending. We build scalable lending platforms that streamline the business lending process, allowing lenders to efficiently deliver capital to small and medium-sized businesses. 

To date, we’ve processed over $7 billion in SBA loans and handle more than 1,000 business loan applications daily. Our team is driven by our core values of innovation, integrity, enjoyment, and family. 

As a top five SBA 7(a) preferred lender, our parent company offers SBA express and small loan capabilities. Join us and be part of a team that’s transforming the finance industry and empowering businesses to thrive! 

Position Description:   

We are seeking a Collections Specialist to join our growing team. In this role, you will have the opportunity to support our small business customers facing financial challenges by initiating proactive outreach, taking appropriate actions, maintaining accurate records, and delivering exceptional customer service throughout. Your goal will be to help these customers regain stability and stay on track. The ideal candidate will have strong analytical thinking skills to assess borrower situations, identify underlying issues, and determine effective solutions. They will also possess excellent communication skills to recommend actionable plans and collaborate with borrowers and internal stakeholders to develop a mutually beneficial strategy for resolving past-due accounts. 

Major Areas of Responsibility: 

Success in this role is measured by the ability to effectively manage delinquent accounts, including reviewing account status, initiating timely contact, resolving disputes, securing payment with the intent of moving borrowers through various stages of delinquency with the goal of bringing them to a current status. This role will also involve outreach to borrowers whose loans have reached a contractual delinquency age where they are considered in default. Proficiency in negotiating payment arrangements, preparing ad-hoc correspondence on a case-by-case basis, performing skip tracing and due diligence, and securing payments by phone will be part of the daily routine. 

• Conduct daily outreach through inbound and outbound calls, as well as email and SMS communications, ensuring clear and consistent communication with borrowers throughout the collection process. 

• Focus on providing solutions, de-escalating difficult situations, and simplifying complex processes for borrowers. 

• Manage multiple priorities, solve problems independently, and adapt to changing situations. 

• Handle challenging conversations with confidence, addressing objections and working toward resolutions. 

• Demonstrate empathy and patience when dealing with sensitive issues and hardship situations. 

• Research and resolve payment discrepancies, including bank errors, reversals/returns, and overpayments. 

• Keep accurate, thorough, and up-to-date records of all customer interactions. 

• Identify issues quickly and escalate them to management as needed within the established process. 

Primary Success Measurements: 

• The drive and initiative to exceed individual goals in a fast-paced, metric driven environment. 

• Consistently meeting or exceeding monthly KPIs and production targets aligned with business goals. 

• Understanding that achieving & exceeding metric goals as an individual contributor fuels the overall team performance & success in surpassing new and established objectives. 

• Strong desire to learn and demonstrated ability to quickly teach oneself when implementing new systems and technology. 

• Accurate communication and coordination of account information with internal departments and delivering regular status updates in weekly/monthly department meetings and during individual calibrations. 

• Thrive in a culture of open communication, teamwork, curiosity, and a commitment to continuous improvement. 

Required Knowledge, Skills, and Abilities: 

• 2 years of Collections experience is preferred, though equivalent professional experience in the following areas is considered: call center operations, customer service, sales, lending, underwriting 

• Computer proficiency and accurate data entry skills required. 

• Proficiency in interpreting financial data related to payment applications and deficits, with the ability to apply basic algebraic concepts to ensure accuracy when discussing repayment terms and plans on past-due balance with customers. 

• Experience with a CRM such as Salesforce is helpful. 

• To perform this job successfully, an individual should have knowledge/experience and proficiency in using Microsoft Office (Excel, Word, Outlook), Softphone Systems, Automatic Dialer Systems, and various internet software/applications. 

• Knowledge of regulatory laws & legal practices (FDCPA, FCRA, UDAPP, CFPB) is helpful, but not required. Ability to understand and adhere to these practices will be when in this position. 

Conclusion: 

This job description is intended to convey information essential to understanding the scope of the job and the general nature and level of work performed by job holders within this job. This job description is not intended to be an exhaustive list of qualifications, skills, efforts, duties, responsibilities, or working conditions associated with the position. 

The company is an equal opportunity employer and will consider all applications without regard to race, sex, age, color, religion, national origin, veteran status, disability, genetic information, or any other characteristic protected by law.