Business Lending Loan Closer

Job Description

Job Description

Business Lending Loan Closer

Work to Improve and Increase Economic Opportunities in the St. Louis Region

The St. Louis Economic Development Partnership (STL Partnership) is a Missouri non-profit corporation organized for the purposes of advancing the social welfare, health, and economic interests of the St. Louis region and its residents. In furtherance of its organizational purposes, STL Partnership provides governmental economic development services to both St. Louis County and the City of St. Louis.

STL Partnership aligns regional efforts in business development, business finance, entrepreneurial support, and international trade services and provides a broad range of services to boost innovation and entrepreneurship, support business retention and expansion, enhance the region's global relevance, and revitalize communities. STL Partnership is a key facilitator of initiatives to encourage equitable economic prosperity and resiliency in the St. Louis region.

Position Description

Responsible for performing professional work of marked difficulty in closing commercial loans under various loan programs (one example is finalizing SBA 504 loans). Responsibilities include (but are not limited to): managing the complex closing process for all approved loans, engaging in frequent contact with clients to discuss personal and business finance matters occasionally of a sensitive nature, independent decision-making in the analysis of loan closings where errors could result in potential program loss, preparing documentation ensuring regulatory compliance, submitting closing packages, and completing reports for internal and external users.

Job Duties

• Draft, review, organize, coordinate and manage the closing of loans: meet with borrowers and bankers to initiate closing process; prepare all required loan documentation; review title and lien searches to secure proper collateral position; organize and prepare file for review by in-house and outside legal counsel; ensure completion of loan closing by filing documents with appropriate recording offices, obtaining title insurance, and billing expenses incurred; maintain communication with SBA and other agencies in moving loan to funding.
• Act as the primary point of contact between borrowers, lenders, title companies, and legal counsel.
• Ensure the loan adheres to SBA Standard Operating Procedures (SOPs), the Authorization for Debenture Guarantee, CDC (Certified Development Center) requirements, and Economic Development Association loan guidelines.
• Submit complete, accurate closing packages to the SBA District Office. Review environmental reports, insurance, and property.
• Engage in customer service by talking with clients (e.g., bankers, attorneys, accountants) about existing loans and managing issues regarding open loans waiting to be disbursed.
• Monitor regulations and changes to loan programs and disseminate information to staff and public, as needed.
• Monitor internal guidelines, policies, and procedures; update systems as necessary and disseminate information to appropriate parties.
• Assist with the Access database: enter data into the database.
• Perform various other duties and functions as required or assigned within area of expertise or scope of the position.

Professional Qualifications

Education

Bachelor's degree from an accredited institution with major course work in business, finance, accounting, commercial lending, or closely related field.

Experience and Skills

• At least two years of related work experience, or other equivalent combination of education and experience.
• In-depth understanding of SBA 504 loan regulations, Eligible Passive Company (EPC) rules, and debt refinancing or commercial lending experience, preferred.
• Knowledge of policies, practices, and procedures involved in the administration/closing of Small Business Administration loans, or commercial loans.
• Understanding of practices involved in banking and real estate transactions and associated legal documentation.
• Skill to understand, interpret, explain, and apply relevant policies, procedures, and regulations.
• Education, training, or work experience as a paralegal and specialized training such as the NADCO 504 Loan Closing course is a plus.
• Familiar with laws and regulations governing finance programs.
• Understanding of relevant legal terminology encountered in the course of work; ability to interpret contracts.
• Strong attention to detail, oral and written communication skills, and ability to manage complex transactions.
• Proficiency in attending to details, calculating numerical formulas, and verifying accuracy of amounts and calculations.
• Ability to organize, prioritize and ensure effective workflow and response to deadlines.
• Skills to comprehend and make inferences from written materials.
• Establish and maintain effective working relationships with borrowers, Small Business Administration, bankers, accountants, attorneys, title company personnel, board members, staff, and the general public.
• Familiar with modern office practices, procedures, and systems.
• Ability to perform and accomplish the requirements of the job using appropriate general office equipment (i.e., fax machine, copy machine, calculator, multi-function telephone).
• Ability to use basic computer word processing and spreadsheet/database management applications (i.e., Microsoft Word/Excel/Access applications).
• Perform light physical work exerting up to 25 pounds on an occasional basis; perform such activities as fingering, grasping, lifting, reaching, crouching and repetitive tasks.
• Recognize and respect diversity and work effectively with peoples of other cultures.

Personal Qualities

1. Demonstrated commitment to public service and STL Partnership's mission.
2. Self-motivated and able and willing to manage the job demands.
3. A team player who inspires collaboration and is well-organized.
4. Ability to interpret a variety of instructions furnished in written, oral, diagram, or schedule form.
5. Ability to solve practical problems and deal with a variety of concrete variables in situations where only limited standardization exists.

Interpersonal Characteristics

Strong written and verbal communication skills are expected. The selected candidate should be a strong team and relationship builder and self-motivated. It is expected that the selected candidate will recognize and respect diversity and work effectively with people of all backgrounds and cultures and will have a desire to make a positive difference within the community. It is expected that the selected candidate will maintain a professional work environment and will treat others with respect and dignity in executing all job functions.

Working Conditions

The job duties described above are representative of those an employee encounters while performing the essential functions of this job. Reasonable accommodation will be made to enable individuals with disabilities to perform the essential functions. STL Partnership currently offers a hybrid remote/in-office work environment.

Compensation and Terms

Commensurate with experience, STL Partnership offers a competitive base salary up to $60,000 annually and a culture that fosters and supports creativity and innovation. STL Partnership offers a generous total compensation package that includes paid time off and holidays; medical, dental, vision, life, and disability insurance; and retirement plan options. This is a full-time, exempt position under the Fair Labor Standards Act.

Interested and qualified applicants should submit their resume to Applicants are also encouraged to visit STL Partnership's website to learn more about the organization and opportunity: and

The St. Louis Economic Development Partnership is an equal opportunity employer. STL Partnership considers applicants without regard to race, color, religion, creed, gender, national origin, age, disability, marital or veteran status, or any other legally protected status.

Accredited Economic Development Organization St. Louis Economic Development Partnership is proud to have earned the distinguished title, Accredited Economic Development Organization (AEDO) from the International Economic Development Council (IEDC). The accreditation signifies the professional excellence of economic development entities throughout North America.