Business Loan Officer

Southeast Kentucky Economic Development Corp.

2292 S Highway 27, Somerset, KY 42501

$45,000 - $55,000 a year - Full-time

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Education

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Job details

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Pay

$45,000 - $55,000 a year

Job type

Full-time

Shift and schedule

8 hour shift
Monday to Friday

Work setting

Office
In-person

Pay frequency

Paid semi-monthly

Location

2292 S Highway 27, Somerset, KY 42501

Benefits
Pulled from the full job description

401(k) 10% Match
401(k) matching
Dental insurance
Health insurance
Health savings account
Paid time off
Vision insurance

Full job description

Job Overview
The Business Loan Officer position will be multi-faceted. The candidate must have the ability to take a loan inquiry, contact customers, determine what their needs are, then follow to the next step in the lending process in consultation with the Director of Lending.

The Business Loan Officer will be responsible during the entire application process, to either decline the application, or move it to the next level, which would then be to elevate it to the lending authority necessary. This step could include determination of values for collateral, running credit reports, running financial spreads, etc.

Upon approval, the Business Loan Officer will bring the loan package to the Loan Operation Specialist for a closing to be scheduled. The Business Loan Officer would work with Loan Operation Specialist to learn packaging functions-, to do this function on their own, for specific loans (under $50K to begin with).

DUTIES AND RESPONSIBILITIES

The Business Loan Officer manages the loan process for businesses and will be responsible for loan procurement/retention/administration/closing. Included will be the following steps:

· New business

Market SKED and its loan products and services to solicit new business

· Application process

Guide clients through the application process and answer questions

· Financial qualifications

Assess the applicant's financial health to determine if they qualify for a loan, this could include performing a credit analysis and underwriting of the loan.

Experience: BA or BS in Finance/Business (other fields of study considered)

1-2 years’ lending experience (Commercial preferred)

· Other duties as needed:

· Provide technical assistance to existing and potential business owners

· Relationship building

· Assist with loan servicing

· Participate in projects, as needed, to accomplish overall SKED goals and strategies

Complete other duties as needed

Job Type: Full-time

Pay: $45,000.00 - $55,000.00 per year

Benefits:

401(k) 10% Match
Dental insurance
Health insurance
Health savings account
Paid time off
Vision insurance

Schedule:

8 hour shift
Monday to Friday

Work Location: In person

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