SBA Loan Closer

As an SBA Loan Closer at Cross River, you will manage a variety of tasks critical to the loan closing process. This includes ordering and reviewing lien searches, appraisals, and ensuring all documentation adheres to banking compliance. You'll generate closing checklists, coordinate with stakeholders, and ensure that loan files are complete and accurate. It’s essential to maintain effective communication with borrowers, internal teams, and external partners to facilitate smooth loan closings.

To qualify for the SBA Loan Closer position at Cross River, you should have a Bachelor’s degree in Accounting or Finance, along with a minimum of two years of experience in SBA loan closing. Knowledge of federal and state banking regulations, closing procedures, and tools such as LaserPro and E-tran is essential. Strong communication skills and proficiency in Microsoft Word and Excel are also necessary for this role.

The salary range for the SBA Loan Closer position at Cross River is between $80,000.00 to $115,000.00 annually. This competitive salary reflects our commitment to attracting top talent in the financial technology sector while providing a supportive and rewarding work environment.

Cross River fosters a nimble and collaborative family culture that celebrates teamwork and innovation. As an SBA Loan Closer, you will be part of a dynamic environment where your contributions are valued and recognized. We believe in hard work, but also in having fun along the way. Our inclusive workplace has been recognized multiple times, and we are dedicated to promoting access and financial literacy for all.

At Cross River, SBA Loan Closers utilize several tools to ensure efficient loan closings. Primarily, you will work with LaserPro for preparing closing documents and E-tran for managing loan applications. Familiarity with these tools is crucial, as well as the ability to effectively use Microsoft Office applications to assist in documentation and communication efforts.

When answering this question, focus on your passion for financial services and how the mission of Cross River aligns with your personal values. Highlight your interest in working for a company that is reshaping finance and inclusivity.

Provide specific examples from your past role, detailing the steps you took, the challenges you faced, and how you overcame them. Use this opportunity to showcase your knowledge of compliance and regulatory requirements.

Discuss your process for reviewing loan files and documentation. Mention checks you perform, such as cross-referencing against approvals, and your communication methods to clarify inconsistencies.

Talk about the importance of clear communication, deadlines, and follow-ups to keep all parties informed and on track. Share any tools you use to manage this process effectively.

Explain your methods for time management and prioritization. Share techniques you use to stay calm and focused under pressure while maintaining a high standard of work.

Mention key qualities such as attention to detail, strong analytical skills, adaptability, and effective communication. Relate these traits back to how they benefit the loan closing process.

Share a specific scenario that demonstrates your problem-solving skills. Explain the situation, the actions you took, and the outcome, highlighting your contribution to a successful resolution.

Discuss your understanding of relevant regulations and how you stay informed about any changes. Highlight strategies you implement to ensure that all loan files meet compliance standards.

Emphasize the importance of transparency and responsiveness in communication. Share specific strategies you would use to keep customers informed and satisfied throughout the process.

Reflect on current industry trends, such as changes in regulations or market conditions that could affect the closing process. Discuss how you stay adaptable and proactive in facing these challenges.