165 Western Ave N
Suite 8, Office #100
St. Paul, MN 55102
Position Title: Lending Specialist Supervisor: Senior Loan Officer
Department: Loan Team FLSA Status: Full time, exempt
Salary Range: 55k-63k Location: Hybrid (virtual, co-working space, field)
** Must be in Minneapolis/St. Paul area**
WomenVenture is an economic development agency designated as an SBA Women’s Business Center and a CDFI. Over its 45-year history, WomenVenture has provided women of all ages, cultures, races, and income levels with the tools and resources to achieve economic success through small business ownership. Utilizing in-depth training, expert advice, access to capital, and a network of support we help our clients launch and lead businesses that are profitable and sustainable. Our work is guided by our values of inclusion, impact, and innovation.
The Lending Specialist’s role supports the WomenVenture mission and vision through the careful, thoughtful activities related to lending and reporting. The Lending Specialist reports to the Senior Loan Officer.
- Act as the first point of contact for those who inquire about the loan program-- via the Lending Inbox, WV general phone number, as a referral from another agency such as MNDOT etc.
- Follow up with applicants as needed. Includes providing general information about the loan program to potential applicants, seeking guidance from loan officers as needed.
- Instruct and/or assist applicants in completion of application materials and submitting information needed by loan officers, including, for example, the Pre-Loan application form and the Personal Financial Statement
- Track items received and outstanding for each applicant.
- Maintain record of all applicants from date of inquiry to date turned over to a loan officer.
- Pull due diligence reports: credit reports, BLJ, O&E, etc.
- Assist Loan officers in gathering other information as needed.
- Once loan is approved and the loan officer has sent the term sheet, send congratulations email (template provided) to each client and manage the loan closing process from that point.
- Work with clients to submit all required documents prior to closing.
- Consult loan officer to see whether any documents can wait until post-close.
- Manage and update Loan Process Checklist to assure all required documents are gathered.
- Prepare loan documents. Present to loan officers for their review and edit.
- Manage the signing process with the client. Includes
- Arrange virtual closing for the client, the loan officer, the consultant, and you.
- Send documents for e-signature, following up as needed.
-Arrange physical signing of SBA or other documents that require ink signature.
- Communicate with the Finance Department to assure funds are disbursed properly and as quickly as possible after loan signing.
- Obtain screen shot of any funds deposited directly to borrower’s account and place in “Proof of Use of Funds” folder in each client’s file.
- Submit perfection of collateral to appropriate government authorities. Includes vehicle liens, UCC filings, mortgages, etc.
Post-close and General Loan Team support:
- 30-day post-closing check-in: collaborate with Business Consultant to collect and file any post-closing documents, including Proof of Use of Funds.
- Provide general assistance to the loan function as assigned by loan officers
- In collaboration with loan officers, organize and maintain all loan files
- Other duties as assigned.
- Organize and maintain physical and electronic loan files.
- Submit loan documents to loan servicing company.
- Review loan set-up for accuracy.
- Upload monthly loan data to CRM:
? Gather all data elements for new loans from client data forms, loan underwriting documents and narratives, searches etc. and enter into the data management system.
? Data elements include address and demographic information, loan fund source, loan amounts, term, interest rate and monthly payment, credit scores, collateral, NAICS codes, etc.
? Ensure accurate data entry into data management system.
? Check work and resolve open issues.
- Complete various projects as directed by CFO.
- Excellent customer service.
- Attention to detail, ability to follow complex tasks through to completion.
- Strong written and verbal communication skills, including the ability to write reports.
- Ability to make reasonable decisions and employ problem-solving skills.
- Proficiency in utilizing database programs, Excel spreadsheets and other standard office software.
- Strong organization and time management skills.
- Ability to work cooperatively with complex systems and workflows.
Preferred Education & Experience:
- Associates degree or higher
- 1-2 years of loan administration experience in a financial institution.
Work Environment/Physical Demands
While performing the duties of this position, the employee is frequently required to sit for extended periods and may be required to stand for an extended period. Reasonable accommodation may be made to enable individuals with disabilities to perform the essential functions of the position.
Interested candidates should send a cover letter and résumé to email@example.com with “ Lending Specialist” in the subject line. No phone calls.
WomenVenture?is an equal opportunity employer, and all qualified applicants will receive consideration for employment without regard to race, color, religion, sex, sexual orientation, gender identity, national origin, disability status, protected veteran status, or any other characteristic protected by law. WomenVenture values diversity and strongly encourages candidates from all backgrounds to apply for this position.
This position description is intended to describe the general nature and level of work being performed by people assigned to this position. It is not intended to be an exhaustive list of all activities, tasks and skills required of people in the position.