IncredibleBank's SBA Loan Underwriting Department is seeking a mid-level SBA Underwriter to assist in their underwriting of all SBA loans. Individuals within this department are responsible for performing a variety of underwriting functions, ensuring all due diligence of each loan has been met in accordance with the SBA SOP and complies with the Bank's internal loan approval and credit parameters.
Duties and Responsibilities
• Preparing, reviewing, and analyzing the creditworthiness of all applicant’s loan requests by spreading company and personal financial statements.
• Manages loan applications and assists borrowers by communicating via email and phone to determine if the loan is a candidate for the SBA Loan Program.
• Presents loan requests to the Bank’s loan committee.
• Works with Loan Officer to ensure loan is within SBA guidelines for loan structure, maximum rate and term depending on the loan requested. Reviews the Loan’s sources and uses to ensure eligibility. Reviews inventory list, FF&E costs estimate/invoices, purchase agreements, debt refinance analysis, business acquisition/partner buyout, and working capital needs.
• Reviews collateral to be pledged and assesses the adequacy of all business assets based on SBA liquidation percentage to determine collateral shortfalls which could result in additional collateral needed to be taken.
• Performs research and prepares a business Overview to discuss the business operations, history, locations, products/services, business model, management, succession plan, competition, vendors, define market area, customer base, strengths, and weaknesses of the business. Compares business NAICS and Franchise to Coleman statistics and FRANdata for trends and success rates of the business or franchise. Utilizes other sources to analyze the business’ industry for any possible credit risk factors.
• Spreads historical and projected financial documents to determine cash flow and repayment to show the applicant meets SOP guideline for DSC of 1.15x or better. Analyzes projection assumptions for reasonableness in obtaining the level of sales and net profit. Determines the projected break-even and what if scenarios. Discusses RMA Common Size ratios in comparison to the borrower’s revenues and expenses.
• Analyzes the principals’ and guarantors’ personal financial statement, personal tax returns and credit report.
• Analyzes and spreads affiliate businesses to show these entities will not be a strain on the applicant/borrower.
• Prepares a global cash flow and rate sensitivity spreads to determine the business and its affiliates meet the SOP guideline for DSC of 1x.
• Spreads historical balance sheet to compare with the common size ratios of RMA. Based on the sources and uses, prepare a pro-forma balance sheet to show how the transaction will affect the balance sheet. Discusses the current and debt to tangible net worth ratios and compare to RMA ratios.
• SBA 7a eligibility requirements include size standard analysis or alternate size standard analysis to show the applicant and its affiliates meets the SBA determinates for the Small Business.
• Orders, engages, collects and reviews all third-party reports (appraisals, business valuations, environment reports and and any other applicable third-party reports).
• If applicable, reviews CAIVRS that checks for delinquent Federal debt and prior loss to the Federal Government. Sam.gov reports are obtained for the business, for all principals, affiliate businesses, broker/agent, LSP employees and SBA Lender that show none of these entities are debarred from conducting business with the Federal Government.
• The Underwriter works with the closing team for a smooth hand-off of the borrower to the next level in the SBA Process (submission and closing). If needed, assists in screen-out responses, credit addendums, and memos to the file.
• Supports and helps implement organizational initiatives.
• Ensures the security and confidentiality of private customer information. Protects against unauthorized access to or use of customer information that could result in harm or inconvenience to the customer.
• Exercises discretion and works independently to make judgements with respect to matters of significance, and is able to discern items that can impact risk to the bank.
• Maintains a strong working relation with Business Development Officers and Risk Management providing guidance as to acceptable types of loans that will meet Bank's goals/objectives.
• Communicates risk policies and processes.
• Recommends approval or rejections of small business loans, ensuring that the credits adhere to existing credit guidelines and that applicants are deemed credit worthy.
• Demonstrates compliance with banking business laws and regulations as defined in company policies and procedures pertinent to the position.
• Provides outstanding Customer Experience to bank customers and prospects when required.
• 3-5 years of directly related underwriting experience and or training; or equivalent of SBA Underwriting.
• Is proficient with utilizing desktop applications such as MS Office (Word, Excel, Outlook) and internet to search and locate information.
• Minimal travel required.