SBA Loan Closing Document Specialist

POSITION SUMMARY

Responsible for assisting the Small Business Administration (SBA) loan processing team with pre-close file reviews to ensure all loans are closed in accordance with policy and federal regulation. Responsible for obtaining SBA loan numbers through Capital Access Financial System (CAFS)/E-Tran and the timely and accurate preparation of SBA loan documents according to industry standards. This will be a hybrid position, requiring employee to be onsite occasionally in Sartell.

ESSENTIAL DUTIES AND RESPONSIBILITIES

• Creates loan documents for government sponsored programs and reviews documents for compliance for credit approval.

• Provides closing assistance to the SBA loan processing and account executive team members.

• Provides a full pre-closing file review to ensure all items are accurate and loans can close in an eligible manner.

• Responsible for the input of all SBA loans into SBA’s CAFS system to obtain the SBA loan number by SBA, and responsible for working through any error codes that come from submission of application.

• Interacts with production, credit, and closing teams to ensure the timely and accurate preparation of commercial loan documents.

• Understands all manner of entities and trusts, and perfection of security interests in all types of collateral as well as real estate title issues.

• Reviews both pre-close and post-close title work to ensure lien position is properly understood and protected.

• Reviews documents for compliance for legal and credit approval addressing discrepancies and deficiencies within the due diligence review process.

• Understands, reviews, and provides recommendations, to the commercial loan document generation system.

• Keeps abreast of rules, regulations and Credit Union policy relating to SBA loans.

• Actively participates in community relations efforts to contribute to the mission and visibility of Magnifi Financial.

EDUCATION AND EXPERIENCE

• Associate’s degree in a business-related field, plus two years’ work experience preparing commercial loan documentation in a financial institution or law firm preferred; or equivalent knowledge and skills gained through a minimum of five years’ work experience. SBA experience preferred.

Salary Range: $26.53/hour - $39.80/hour.

Salaries vary based on factors such as location, internal equity, skills, experience, education, and qualifications for the role.

Total compensation package varies based on position and may include bonuses, performance-based incentives, commission, and/or discretionary bonuses.

The Benefits

We are committed to investing in our team! Magnifi Financial offers benefits that help everyone achieve their full potential. Full-time employees are eligible for the following benefits (benefits with an asterisk are also available to eligible part-time positions):

• Opportunities for Training and Development *
• Leadership Development *
• Job Level Advancement (ability to move up in your position through training and development) *
• Tuition Reimbursement *
• 32 Hours Volunteer Paid Time Off *
• Paid Time Off – Begins accruing upon date of hire for a total of 4 weeks per year for FT; prorated for PT *
• Medical
• Dental
• Vision
• Employer paid Life Insurance/AD&D
• Employer paid Disability Insurance
• Retirement Plan - Employer match up to 4%, eligible for annual profit sharing *
• Paid Parental Leave
• Bonus/Incentive Program
• Employee Engagement/Health and Wellness Programs *

Who We Are:

At Magnifi Financial, we offer a collaborative, friendly environment where we support our employee's growth and development, and create a positive work atmosphere. As a member-owned organization, we are focused on making dreams come true for our members. Our vision is enhancing the lives of members and community through strength, service and growth. Magnifi Financial has grown to more than 85,000 members, $2.4 billion in assets, over 400 employees, and over 25 branch locations throughout Minnesota. But what hasn’t changed is our focus on the members and communities we serve.

Equal Opportunity Employer/Protected Veterans/Individuals with Disabilities

The contractor will not discharge or in any other manner discriminate against employees or applicants because they have inquired about, discussed, or disclosed their own pay or the pay of another employee or applicant. However, employees who have access to the compensation information of other employees or applicants as a part of their essential job functions cannot disclose the pay of other employees or applicants to individuals who do not otherwise have access to compensation information, unless the disclosure is (a) in response to a formal complaint or charge, (b) in furtherance of an investigation, proceeding, hearing, or action, including an investigation conducted by the employer, or (c) consistent with the contractor’s legal duty to furnish information. 41 CFR 60-1.35(c)