SBA Relationship Specialist

POSITION SUMMARY

The SBA Relationship Specialist works closely with the SBA Account Officers, Business Development Officers, Commercial Processing Team, Credit Analysts, Commercial Servicing Team and members to gather documentation, prepare loan files, and facilitate timely closings. This role ensures loan files are complete, accurate, and compliant with SBA guidelines, Magnifi Financial policies, procedures, and state and federal regulations.

ESSENTIAL DUTIES AND RESPONSIBILITIES

• Provides assistance, answers questions, effectively communicates status updates and requests necessary documentation to and from SBA Account Officers, Business Development Officers, Credit Analysts, the Small Business Administration (SBA), and applicants.  

• Provides assistance to SBA members in all areas of the member relationship with Magnifi Financial including loans, deposits, and other services.

• Enhances member relationships through follow-up communication to include outbound calls & emails.

• Prepares, disburses and sends commitment letters.

• Properly documents loan application file progress using assigned checklists.

• Responsible for collecting due diligence deposits.

• Works with members to collect financials and documentation needed to complete the loan request.

• Requests documentation needed from the member to ensure all conditions are met for the loan closing.

• Orders 3rd party items needed for closing (title work, appraisal, etc.).

• Reviews SBA application documentation, leases, title commitments, organizational documents, environmental reports, appraisals, franchise documents, IRS verification, and insurance to ensure SBA eligibility and compliance.

• Responsible for the collection and securing of applicant equity injection. 

• Responsible for collecting due diligence deposits and completing CAIVRS search to determine if applicant is flagged as ineligible for additional federal financial assistance.

• Requests disbursements/loan advances, subordinations, partial releases, satisfactions and fee reversals.

• Assists Commercial Processing staff with SBA questions to ensure the correct creation of SBA specific documents, as well as reviewing the loan documents to ensure they are prepared accurately.   

• Understands and keeps updated on SBA program rules, commercial loan documentation, credit policy and state and federal regulations.  

• Serves as a subject matter expert for SBA. Shares knowledge in order to train other SBA lending staff and is a resource for questions. 

• Assists with conventional commercial loans as needed.

• Suggests, and helps implement, process improvements to improve departmental efficiencies.

• Creates and updates departmental procedures.

• Uses the sales process to identify and recommend products and services to members based on financial need, when appropriate. Makes referrals to appropriate departments.

• Actively participates in community relations efforts to contribute to the mission and visibility of Magnifi Financial.

EDUCATION AND EXPERIENCE

• Two-year degree in a business-related field, or equivalent experience

• Three years of experience in commercial banking, or equivalent knowledge and skills gained from related work experience

• Previous SBA experience is preferred 

Salary Range: $27.34/hr. through $41.01/hr.

Salaries vary based on factors such as location, internal equity, skills, experience, education, and qualifications for the role. 

Total compensation package varies based on position and may include bonuses, performance-based incentives, commission, and/or discretionary bonuses.

At Magnifi Financial, we offer a collaborative, friendly environment where we support our employee's growth and development, and create a positive work atmosphere. As a member-owned organization, we are focused on making dreams come true for our members. Our vision is enhancing the lives of members and community through strength, service and growth.

Magnifi Financial has grown to more than 85,000 members, $2.4 billion in assets, over 400 employees, and over 25 branch locations throughout Minnesota. But what hasn’t changed is our focus on the members and communities we serve.