Job Title: Loan Closing Team Lead
Reports to: Underwriting Director
FLSA Status: Exempt
Location: Raleigh Main Office/Remote
Who we are: Carolina Small Business Development Fund (CSBDF) is a nonprofit and certified community development financial institution (CDFI). We are passionate and committed to providing support to small businesses across the state. Our mission is to foster economic development in underserved communities by providing capital, business services, and policy research to support small businesses. CSBDF provides assistance to small businesses in four major ways: as a partner, as a trusted guide, as an advocate for small businesses, and as an accessible funding source. Our work supports our vision to create economic opportunity for all people.
Nature of Work: The Loan Closer will assemble, prepare, and verify closing documents related to all business loans, and coordinates all aspects of the closing process to ensure all terms and conditions of the loan approval are met. The Loan Closer will also collaborate closely with internal clients including the Business Solutions, Credit, and Portfolio Management teams along with external clients including attorneys, title agents, appraisers, third party vendors, grant and loan program partners including the U.S. Small Business Administration, the USDA and other public sector partners.
Supervision Received/Exercised: Works under the general supervision of the Underwriting Director and has no direct supervisory responsibilities. This role will be responsible for ensuring the Closing Team is acting in accordance with closing policies and procedures, providing training and professional mentorship across teams, identifying operational deficiencies, and working in concert with leadership to develop and implement process enhancements to ensure efficacy. Our not-for-profit team is growing as we strengthen our portfolio, and a candidate with willingness to eventually supervisor others directly will be highly considered for future scale.
Essential Job Functions: The following duties ARE NOT intended to serve as a comprehensive list of all duties performed by all employees in this classification. Shown are duties intended to provide a representative summary of the major duties and responsibilities. Incumbent(s) may not be required to perform all duties listed and may be required to perform additional, position-specific duties.
Credit Functional Area (how the Credit Team is supported):
• Oversee the loan closing process: manage and monitor all loans during the closing phase.
• Update the loan status through each phase of the closing process.
• Operate in a legal and ethical manner congruent and in compliance with CSBDF policies and procedures, third-party policies and procedures, and industry regulations.
• Enter client loan data information into the Core Loan Processing System (Salesforce) and review the loan data metrics inputs for accuracy.
• Review all loan approvals, confirming terms of the loan conditions align with CSBDF and Loan Program Standard Operating Procedures.
• Collect and review loan closing documentation such as collateral lien filings, client financial statements, appraisals, title commitments, and client identity to verify and uphold sound lending practices that align with CSBDF and Loan Program Standard Operating Procedures.
• Design, develop, and implement Internal and Borrower Closing Checklists and manage the receipt of required checklist items from internal clients and borrowers.
• Construct and complete the internal Closing file with documents required by CSBDF and Loan Program Standard Operating Procedures.
• Prepare legal loan documents in accordance with CSBDF and Loan Program requirements and review the legal loan documents and manage execution.
• File certain collateral lien instruments.
• Submit loan information to Loan Program partners such as SBA E-Tran if applicable.
• Manage disbursements of loan proceeds.
• Update loan data into Core Servicing Software (Salesforce) upon funding and prepare the internal Servicing File.
• Support the Credit Department in processing existing loan modifications, renewals, deferments, and any other such loan action that requires a change to the original legal loan documents of existing loans.
• Mentor Closing Team.
• Perform other duties as assigned.
Business Solutions Team Functional Area (how the Business Solutions Team is supported):
• Oversee the loan closing process.
• Coordinate with the Business Solutions Team to confirm data integrity within our Customer Relation Management or Core Loan Processing System (Salesforce).
• Verify that all team members have identified and correctly disclosed loan information in the Core Loan Processing System (Salesforce).
• 4-year degree or a combination of secondary education and experience.
• Minimum of 5 years in two or more areas: loan closing, loan administration, loan documentation or loan review.
• Any combination of experience and training that can be considered equivalent to the education preference.
• Knowledge of U.S. Small Business Administration 7a Community Advantage loan requirements.
• Thorough understanding of Commercial Loan documentation.
• Thorough understanding of business entity documentation.
• Knowledge and understanding of rules and regulations governing lending activities, including SBA.
• Familiar with Salesforce and TEA software applications preferred.
• Proficient with Finastra Fusion Laser Pro loan document preparation software.
• Maintain confidentially processing sensitive client information using discretion and tact.
• Support a quality credit culture and operate on a team-based lateral organization structure.
• Maintains and supports a shared collaborative team culture in person and virtually.
• Ability to meet reasonable deadlines and prioritization of workflow within a changing fast paced work environment.
Living our Values:
• Economic Justice: Demonstrate commitment of economic justice through loan closers for clients that are approved.
• Opportunity: Demonstrate commitment of opportunity when overseeing loan status in support of our vision for economic opportunity for all.
• Customer Service: Provide strong, efficient, and effective customer service to all stakeholders including co-workers, clients, board members, partner agencies, and institutions.
• Excellence: Maintain an environment of excellence through a quality service attitude that drives performance results.
• Integrity: Maintain an environment of integrity through application of sound moral and ethical principles, especially when closing a loan.
• Innovation: Promote innovation in loan closing procedures to improve economic access for all.
• Teamwork: Seek and encourage teamwork.
• Passion: Embody and encourage passion for the mission to support small businesses and exemplify that passion through the loan closing process.
Work is principally sedentary but may involve some physical exertion during the course of normal work activities, and travel to meetings, conferences or workshops in other cities. As an exempt employee, extended hours may be required on a frequent basis.
The physical demands described here are representative of those that must be met by an employee to successfully perform the essential functions of this job. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.
Work involves the normal risks or discomfort associated with a standard office environment and is usually in an area that is adequately heated, lighted and ventilated.
The job description does not constitute an employment agreement between the employer and employee and is subject to change by the employer as the needs of the employer and requirements of the job change.
You can send a resume and cover letter to email@example.com for consideration.
We offer a competitive salary that depends on prior experience. Our benefits package includes Medical, Dental, Vision, Short Term Disability, Long Term Disability, 401k Account with employer match, plus generous vacation and sick time.