SBA Disbursement Agent

Job Summary:   Responsible for providing support to SBA Lenders, SBA Portfolio Managers, SBA Credit Underwriters, and SBA Closers.   Responsibilities and Duties:   Multi-Disbursement Construction Loans: Coordinate with SBA Portfolio Managers and SBA Underwriting Officers to establish appropriate multi-disbursement (construction) due diligence prior to loan approval. Commence construction / multi-disbursement file preparation upon receipt of signed Commitment Letter. Review LAR and executed Commitment Letter to become familiar with the loan. Prepare construction letter to inform applicant of construction process including GC qualification, cost review analysis, and items needed for first disbursement. Send construction checklist to SBA Closing Manager / SBA Closer / SBA Loan Administrator who will in turn ensure it’s included on initial closing needs checklist. Obtain GC qualification items from SBA Closing Manager / SBA Closer after collection and review with SBA Underwriting Officer, if appropriate. Obtain construction contract from SBA Closer and review for compliance with industry standards as well as Bank requirements. Submit for cost review, if appropriate, and construction monitoring bid through third-party approved Construction Risk Management vendor. Communicate fee(s) to SBA Closing Manager / SBA Closer for inclusion on equity injection verification for fee(s) to be paid at closing. Order contractor evaluation, if appropriate, through third-party approved Construction Risk Management vendor. Send construction letter after the Construction Risk Management due diligence call outlining the process from initial documentation through the final disbursement. Own all applicants contact regarding construction due diligence and work with SBA Closer and SBA Loan Administrator throughout closing process. Consult with SBA Underwriting Officer and SBA Loan Administrator for any project changes that affect original credit approval (i.e.., reallocation of proceeds, contract changes, cost increases, etc.) Facilitate call between applicant, GC, third-party Construction Risk Management vendor (if applicable) to review process, timing, draw requests, site inspections, etc. Ensure loan proceeds are disbursed in accordance with SBA Loan Authorization approved purposes and only funded upon full documentation. Coordinate documentation between applicant and vendors / supplier ensuring appropriate invoices / backup are received for funding. Obtain Credit approval for changes in use of loan proceeds ˃ 20% or $50,000. Compile complete and accurate draw packages for disbursement processing and send to Bank Loan Operations for processing.   Multi-Disbursement Non-Construction Loans:   Coordinate with SBA Portfolio Managers and SBA Underwriting Officers to establish appropriate multi-disbursement (non-construction) due diligence prior to loan approval. Commence multi-disbursement file preparation upon receipt of signed Commitment Letter. Review LAR and executed Commitment Letter to become familiar with the loan. Send multi-disbursement needs checklist to SBA Closing Manager / SBA Closer / SBA Loan Administrator who will in turn ensure it’s included on initial closing needs checklist. Communicate fee(s) to SBA Closing Manager / SBA Closer for inclusion on equity injection verification for fee(s) to be paid at closing. Participate in call with applicant to review process, timing, draw requests, etc. Own all applicants contact regarding construction due diligence and work with SBA Closer and SBA Loan Administrator throughout closing process. Consult with SBA Underwriting Officer and SBA Loan Administrator for any project changes that affect original credit approval (i.e.., reallocation of proceeds, contract changes, cost increases, etc.). Ensure loan proceeds are disbursed in accordance with SBA Loan Authorization approved purposes and only funded upon full documentation. Coordinate documentation between applicant and vendors / supplier ensuring appropriate invoices / backup are received for funding. Obtain Credit approval for changes in use of loan proceeds ˃ 20% or $50,000. Compile complete and accurate draw packages for disbursement processing and send to Bank Loan Operations for processing. Track loans with interest reserve proceeds, requesting draw to disburse and coincide with due dates. File UCC amendments (or engage third-party counsel when necessary) when UCC amendments are needed due to equipment purchases. Monitor disbursements and be point of contact for applicant- throughout the multi-disbursement period. Order final lien search prior to funding final construction draw request (for non-construction draw requests, a final lien search may be ordered). When funding is 85% complete, begin gathering the following, as applicable: 1) Final draw request; 2) Insurance(s); 3) Business/Liquor license; 4) Final use of proceeds; 5) Outstanding post-close items; 6) Order final lien search during processing of final draw (if applicable); 7) Other documentation requirements deemed appropriate for a specific file.   General Requirements: Track loans with interest reserve proceeds, requesting draw to disburse and coincide with due dates. File UCC amendments (or engage third-party counsel when necessary) when UCC amendments are needed due to equipment purchases. Monitor disbursements and be point of contact for applicant- throughout the multi-disbursement period. Order final lien search prior to funding final construction draw request (for non-construction draw requests, a final lien search may be ordered). Maintain pipeline of all open multi-disbursement loans. Track original loan amount, disbursements, disbursement dates, and approved draw period providing report to SBA Managing Director and SBA Closing Manager on a monthly basis. Utilize critical thinking skills and apply reasonable decision making when team members need guidance on SBA SOP and/or operational procedures.  Provide solutions that are compliant with SBA SOP and/or operational procedures. Upload Gathered Documents to Sageworks. Perform job duties with little to no supervision to fulfill responsibilities. Assist in development of new or revision of existing loan disbursement processes and procedures. Maintain documentation per bank policy and SBA SOP (standard operating procedures). Interact with other departments and officers of Bank to maintain teamwork environment. Additional responsibilities as may be assigned by management. Complete required annual compliance training. Integrity, discretion, and respect for confidential information are essential.   Job Skills and Qualifications: Microsoft Office – Word, Excel, PowerPoint Ability to type at 45 WPM Preferred Skills; Experience; Certifications Experience in customer service preferred Loan experience preferred but not required Education/Certifications (required) High School Diploma/GED

Salary : $50,000