Loan Servicing Specialist

SomerCor is a mission-driven, nonprofit U.S. Small Business Administration (SBA) Certified Development Company (CDC) committed to growing economic opportunity through access to capital. We help small businesses invest, grow, and create jobs, strengthening communities across Illinois, Indiana, and Wisconsin. With more than 30 years of impact and a growing portfolio of SBA 504 loans and innovative programs supporting entrepreneurship and small business expansion. SomerCor is a trusted leader in economic development finance and community investment. About the Role: We’re hiring a detail-driven Loan Servicing Administrator to manage the day-to-day servicing of SomerCor’s loan portfolio. This person owns the ongoing health of our loan files — from insurance and tax monitoring to UCC renewals, payoff processing, SBA reporting, and borrower customer service. If you take pride in clean files, accurate records, and proactive follow-through, this role is built for you. Requirements: Bachelor’s degree in business, finance, or accounting preferred 2+ years of loan servicing, commercial loan operations, or related financial services experience Familiarity with SBA 504 and/or Community Advantage lending is beneficial Hands-on experience with loan servicing platforms; comfort with Ventures, BMI, ETRAN, and Lereta is ideal (we will train the right person on internal systems) Notary commission or willingness to obtain one Exceptional attention to detail and recordkeeping discipline Strong written and verbal communication, particularly in borrower-facing correspondence Self-starter with the ability to manage recurring deadlines across a loan portfolio Job Duties: Monitor and collect hazard, business personal property, general liability, and workers compensation insurance policies across the loan portfolio on an ongoing basis Collect updated life insurance policies annually for applicable loans Monitor and renew UCC liens for the portfolio Use Lereta to run property tax reports, identify delinquent real estate taxes, and mail delinquent tax letters to borrowers, and scan delinquent tax letters into BMI New Loan Onboarding Prepare and send welcome letters to new borrowers Review newly closed and funded loan files for documentation completeness and compliance Input servicing ticklers into Ventures and set up Lereta tax service contracts for newly funded loans; scan tax contracts into BMI when loan funds Annual Borrower Tracking Collect job letters on an ongoing basis for pertinent loan facilities; scan completed job letters into BMI and update Ventures Request and obtain annual tax returns and financial statements from borrowers; scan all pertinent tax returns into BMI Submit ACH payment change requests to Wells Fargo (SBA-designated servicing agent) when borrowers change bank accounts, and update banking information in ETRAN Mail annual interest statements to borrowers and scan into BMI Create annual interest statements for Community Advantage loans; prepare and submit 1502 reports and post Community Advantage loan payments in Ventures Interface with the SBA District Office on loans in liquidation status Payoffs & Releases Process all paid files; prepare, notarize, and mail release documents to borrowers Terminate state UCC filings as needed Customer Service & Reporting Respond to borrower inquiries about loan facilities and provide pertinent documentation from file Generate reports from Ventures for other SomerCor departments as requested Why Join SomerCor? Make a tangible impact in communities through economic development and access to capital Work at the intersection of finance, entrepreneurship, and public service Help shape and grow a new philanthropic platform at a mission-driven nonprofit Join a respected organization with a 30+ year track record and strong regional partnerships Collaborate with engaged leadership and a high-performing, purpose-driven team Competitive salary, benefits, and long-term growth opportunity Salary Range: $70-100K depending on experience #J-18808-Ljbffr