The SBA Business Development Officer (SBA BDO) will be responsible for sourcing and administering the production of various SBA loans, which include both 7a loans, and which meet certain criterion established by IncredibleBank’s Internal Credit Policies and Philosophies as well as those established by the Small Business
Administration (SBA). Marketing focus will be on targeting loans between $250,000 to $5,000,000 in accordance with annually reviewed goal targets and lending parameters. The SBA BDO will work closely with the National SBA Sales Manager and the Credit and Processing staff, assisting them in serving the lending needs of prospective clients within targeted parameters. The SBA BDO will be responsible for independently - and/or in cooperation with the existing Sales Department - marketing SBA loans to owners of existing and newly established businesses. The SBA BDO will consult with the National SBA Sales Manager to confirm transaction eligibility and loan application and underwriting requirements. They will be required to meet with and interview clients and/or prospects in order to analyze financial information and underwrite loan transactions in accordance with designated banking guidelines. The SBA BDO will demonstrate the capacity to work independently with clients and prospects and to negotiate the various and complex terms and conditions of all types of SBA loans; and they will be responsible for facilitating the closure of said transactions. The SBA BDO will be accountable for the attainment of annual loan production goals, which will be subject to change per annual review practices.
This position is remote eligible. Individuals may choose to work from a designated home office space or may choose to work onsite at any IncredibleBank branch location in Wisconsin and Michigan.
Duties and Responsibilities
• Minimum annual production of $20,000,000 going forward. This production will be expected with the cooperation of the Sales Team in developing preselected and new industry verticals.
• Works with the National SBA Sales Manager to identify and develop new markets and expand lending opportunities in accordance with the Bank's strategic plan and industry verticals
• Seeks opportunities to build relationships, working within the prescribed framework of the Bank's policies and procedures to offer flexible and competitive banking solutions, including business loans and lines of credit.
• Gathers the necessary business, financial and personal background information required.
• Reviews loan requests and credit history.
• Assists with detailed analysis of financial data to determine whether proposed application meets lending criteria outlined in the Bank's Business Banking Policy and Procedures.
• Prepares proposed credit outlines (pre-screens), including recommendations for loan pricing and terms, working in concert with National SBA Sales Manager and/or the Small Business Administration, as needed.
• Maintains constructive and positive working relationships with loan applicants, borrowers, and their representatives, as well as referral sources, retail branch partners and Business Banking team members.
• Provides advice and council to customers on financing related matters, representing the Bank's best interests at all times.
• Communicates approvals and declinations to prospects and customers in written or verbal form as required by Bank procedures and Federal Guidelines.
• Maintains a strong and current working knowledge of all policies and procedures established for the SBA Group, including lending procedures and guidelines set forth in the SBA Standard Operating Procedures manual (most current version).
• Performs other duties as assigned by Management.
• Actively participates in the local community and business community at large.
• Assures customer information is kept confidential.
• Communicates transaction status with Retail Branch partners, as warranted, in a timely and concise manner.
• Degree in Business, Finance or related field of study preferred, or comparable experience.
• Computer literacy in word processing, financial software used for spreading financial information,
Excel and Word.
• Use of time and customer management software such as Sales Force or Outlook.
• Position requires business travel nationwide.