SBA 7a Officer
The 7a Officer is responsible for maintaining the Michigan Certified Development Corporation’s (MCDC) reputation as a nationally-recognized leader in our industry. Our integrity and strong reputation as an SBA-Approved Lender Service Provider (LSP) relies on our ability to provide expert advice to financial institutions (our clients), provide complete, error-free packages to the SBA and allowing our clients to provide loan solutions to their customers.
The 7a Officer utilizes the MCDC’s authorization to perform specific duties on behalf of the Lender. The ultimate goal of the 7a Officer for each loan is the full protection of the SBA guarantee for our clients.
The 7a Officer provides day-to-day consultative assistance to our Clients and the MCDC Loan Officers regarding project eligibility and loan structure. The 7a Officer works in conjunction with both the MCDC and client Loan Officers to produce loan packages for submission to, and approval by, the SBA and documentation for closing.
The 7a Officer provides consistent eligibility and loan structure advice and shares their credit knowledge with Client Loan Officers, Underwriters and Senior Management as well as with MCDC Loan Officers. The 7a Officer is ultimately responsible for maintaining MCDC’s integrity as an SBA-Approved Lender Service Provider.
- Be available as a consultant for loan officers on loan origination questions and issues
- Provide general support to Clients and MCDC loan officers by answering client and lender questions regarding eligibility and practical application of SBA SOP
- Attend Sales calls both independently and with a MCDC Loan Officer
- Keep apprised of all changes and updates to SBA SOP
- Conduct training session for Client Senior Management, Loan Officers and Underwriters
- Create project-specific SBA checklists and SBA Forms for Client
- Review Approval Packages for acceptability including Credit Memo’s, related schedules, third party reports (such as appraisal, environmental, etc.)
- Identify concerns and communicate back to Client as issues are being resolved.
- Utilize SBA One on behalf of the client to:
- Submit the 7a Loan Package to the SBA for Approval
- Address all screen-outs on behalf of client and Borrower
- Create any 327 Change forms on behalf of Client/Borrower
- Review Authorization and advise Client of any changes or deviations between the Authorization and Credit Memo
- Execute SBA Closing Checklist items and create loan documents
- Verify loan Disbursement Detail in closing packet is identical to SBA’s Approved Detailed Loan Proceeds
- Verify that loan is closed per SBA guidelines
- Liaison with SBA District Office Lender Relationship Specialists regarding 7a product
Reports directly to the President and works closely with all staff; particularly the MCDC Loan Officers.
- The position requires the knowledge equivalent to that which would be acquired through a Bachelor’s degree in business, finance, accounting, economics or related field or an equivalent combination of education, training and experience.
- Two years of experience in customer-facing sales including SBA 7a or Express loans or commercial credit analysis is highly desirable but not required.
- The position requires a high level of accuracy.
- The ability to handle multiple projects.
- An understanding of fundamental business financial analysis.
- Familiarity with spreadsheet and word processing.
- Knowledge of SBA 7a lending and familiarity with SBA SOP is considered highly desirable.
Compensation and Benefits:
- Salary range $60,000-$90,000 + Incentive (commensurate with experience)
- Full benefit and retirement package
- Location: Lansing area but must be willing and able to travel throughout Michigan