504 Loan Processor

About the Organization

The Momentus Capital branded family of organizations - which includes Capital Impact Partners and CDC Small Business Finance and Momentus Securities (an SEC-registered broker-dealer, MSRB-registered, FINRA/SIPC member) - are transforming how capital and investments flow into communities to provide people access to the capital and opportunities they deserve.

We are working to reinvent traditional financial systems and advance locally-led solutions that create economic mobility and generational wealth. Through our continuum of financial, knowledge, and social capital, we offer a comprehensive package of loan products, impact investment opportunities, training and business advising programs, and technology solutions.

Our holistic and streamlined approach offers comprehensive solutions for small business entrepreneurs, real estate developers, community-based organizations, and local leaders at every stage of growth, from inception to expansion. When these leaders have the opportunity to succeed, their communities, their residents – and our country – thrive

Primary Function:

Loan Processors for the SBA 504 loan program will work in partnership with CDC Loan Officers, Staff Assistants, Credit Analyst, Closing Attorney’s and the Construction Department to successfully package, approve and fund SBA 504 loans. The Loan Processor is responsible for maintaining the integrity of the file and ensuring that all fundamental file parameters are met in accordance with the U.S. Small Business Administration’s Standard Operating Procedures as well as CDC Small Business Finance internal guidelines.

Essential Functions

1) Loan File Processing:

• Develop and send a Client Checklist of items required to complete the loan file for purposes of submittal to the SBA
• Work directly with the appropriate party/parties to receive all client checklist items in a timely manner
• Review Client Checklist items as received for accuracy and completeness
• Ensure IRS verifications are complete when necessary per loan program requirements
• Utilize Staff Assistants for obtaining all business and personal credit searches, IRS verifications, SAM, CAVIRS and OFAC reports.
• Maintain accurate and complete loan file in BMI throughout loan process. Files should be uploaded at the initial, credit, approval and funding stages.
• Proactively work on loan files to ensure that all applicable escrow deadlines are met and that loan file is funded quickly post SBA approval

2) Database Input:

• Input required data into CDC Ventures database for all loan files
• Generate CDC/SBA forms as applicable to loan file and loan program
• Update CDC Ventures/ETRANS and CAFS database(s) with any changes as they occur throughout the loan process

3)Coordination and Communication:

• Communicate both verbally and via email with borrowers, lenders, brokers, CDC Closing Attorneys, and internal CDC staff as necessary to move loan file through approval and funding process in a timely manner
• Coordinate necessary weekly pipeline meetings with Loan Officers and CRE Management
• Notify CDC Underwriting for SLPC memo preparation and monitor progress
• Submit completed loan file to SBA for approval
• Ensure timely responses to SBA screen outs and declines
• Ensure receipt of approved Terms and Conditions from SBA and appropriate reports, as needed
• Provide copy of SBA signed authorization to appropriate party/parties
• Obtain all trailing documents and the signed SBA Terms and Conditions from borrower within the required time frame
• Correct any discrepancies/changes required in authorization via a 327 action and log into CDC Ventures
• Determine estimated funding date and lender closing contact for debenture funding on 504 loans
• Submit required documents to CDC closing counsel for loan documents when project is a straight purchase
• Submit complete file to the 504Construction Department when improvements or equipment are included in the project costs Closing Analyst/CDC Closing Attorney as applicable
• Regularly update Loan Officers on status of each loan file

4) Other miscellaneous duties as required by Manager.

• Minimum of 1 year of experience in commercial loan processing or two years of experience in customer service.
• Proficiency with MS Office applications.
• Ability to prioritize, multi-task, and remain organized. Strong written and verbal communication skills.
• Agile and open to change.

The salary range for this position is $28.42 - $35.53 per hour and is eligible for an annual incentive.

This role is remote and is eligible for an annual incentive.

All employees must be legally authorized to work in the United States.  The Company will not sponsor applicants for work visas.