SBA Business Loan Officer

Sound is looking for… A SBA Business Loan Officer to join our team! As the SBA Business Loan Officer you will work with business owners to help generate business loans from current and potential members on loan requests exceeding $500,000, with an emphasis on Small Business Administration (SBA) 7(a) loans (Owner-Occupied Commercial Real Estate, Commercial Lines of Credit (LOC) and Commercial Term Loans).
In this role you will be responsible for partnering with the Business Services team to assist business members with Business Deposit Accounts and other Business Services product offerings.
At Sound you will experience… Our purpose which is “to stand with you through all waves of life”.
Every day, our employees help us to live this purpose.
We believe in empowering our employees to do the right thing.
A diverse workforce with an inclusive and supportive environment.
Besides competitive pay, we offer career growth, and we hold a benefits package that’s consistent with our purpose, personalities, and values.
Teams that are living out the credit union philosophy of “people helping people”.
Fellow employees who are dependable, genuine, inclusive, and resourceful.
Leaders of Sound Credit Union who embrace our Brand Purpose.
At Sound, we recognize our actions strongly impact our Brand-led culture.
Therefore, we commit to consistently serve as Brand Advocates by modeling desired behaviors to inspire others through being Supportive, Open, Unified, iNclusive, and by Doing the right thing.
Learn more about our company culture here! As a SBA Business Loan Officer you will… Develop and implement calling efforts for business members, focusing on new relationship creation, relationship expansion and external referral sources.
Generate leads through branch network and referrals, calling existing contacts and internal partners to develop loans and deposits.
Participate in local and community activities, and cold calling, if necessary, to generate business.
Maintain a list of referral sources and COI’s such as brokers and maintain an active and progressing pipeline of loans.
Solicit new small business members in assigned territory, identify needs, and make appropriate product recommendations to prospects.
Identify and develop contacts and leads to generate Member Business Loans using such programs as Small Business Administration (SBA) loan financing for small businesses.
Develop loan packages and gather pertinent financial information.
Upon approval, deliver terms and review details with the Borrower.
Collaborate with branch staff, along with the use of networking and referral activities to identify small business prospects as well as generating new leads.
This includes attending SBA events, engaging with the local SBA district office and networking with local business advisors (SCORE and Washington Small Business Development Center(s)).
On a case-by-case basis, this position will be able to work on non-SBA loans, particularly when it comes to relationship management and when part of an SBA request may require a conventional loan.
Assist and train branch employees on the basics of SBA business lending (i.
e.
, taking in new loan referrals).
Conduct efficient and thorough credit pre-screen analysis on loan requests to determine credit worthiness.
Prepare credit memoranda with corresponding attachments to accurately present pertinent credit risks and provide applicable recommendations to Business Credit Team and present to Loan Committee.
Prepare and present credit analysis for approval on all borrowing requests including the analysis of various credit risk assets to ensure loan quality is maintained at a high level within established credit union policy.
Work closely with Business Lending support team in the review of documentation and obtaining data needed for loan closing.
Perform credit administration tasks including member and site visits, covenant compliance, borrowing base review, financial statement review, risk rating analysis, overdrafts and account usage, and periodic review of collateral and documentation, as needed.
Perform ongoing portfolio management, including annual reviews, loan change requests, monitoring, and loan collections.
Work closely with Business Loan Portfolio Support to monitor collateral, payments/delinquency and periodically to detect any loss in value; monitor collateral exceptions and follow up on pending items.
Manage and control assigned portfolio of business accounts to guarantee borrowing relationships are within established risk parameters.
Manage the risk associated with existing borrowing relationships through appropriate credit strategies, structure, and compliance with credit policies.
Minimize Credit Union risk and maximize borrowing potential.
Work closely with Vice President/Business Lending and Business Loan Portfolio Specialist to monitor delinquency reports and follow up on member’s financial condition to determine when closer monitoring is needed.
Assist the Business Lending team with analysis/design of new business services products.
Stay current with SBA SOP’s to protect the SBA guaranty and remain compliant.
Make a connection with members by developing a genuine and trusting relationship to understand their financial needs and recommend appropriate products and services that support members through all waves of life.
Our ideal candidate will bring to the team… Bachelor’s Degree in Business Administration or related field, or equivalent experience.
Must have valid driver’s license, reliable transportation, proof of insurance, and a clean driving history.
In addition: Must be bondable Employer sponsorship to secure or maintain employment authorization not available As a team member of Sound, you will receive… These benefits in support of a true work/life balance: Full medical, dental, vision, and disability for the employee [yourself] with premiums paid by Sound 401(k) with 4% match - Plus discretionary profit share of up to 5% of annual salary Three weeks Paid Time Off (PTO) accrued annually 5 employer paid work/life balance days 10 paid federal holidays every year Employee assistance program for wellness counseling Gym/lifestyle reimbursement Free and/or discounted banking services with Sound Employee Charitable Matching & Volunteer Program Employee bonus program Tuition assistance ORCA pass Incentives available for multilingual speakers Your compensation: At Sound Credit Union we believe in paying our employees a fair and living wage.
Individual offers are made dependent upon a candidate’s prior experience and education level as it pertains to their role.
This strategy promotes a talented and empowering work environment that we hope you will be a part of! Our pay ranges are built to allow for candidates with various levels of skill and experience to be considered, as well as for room for growth and tenure achieved in a role over time.
Typical new hire salary offers fall within the minimum to midpoint of a pay range for many candidates, which allows us to offer merit-based salary increases.
Minimum: $ 108,800 Midpoint: $136,000 Maximum: $163,200 This position is also eligible for additional incentives based on loan production.
Your hours: A hybrid schedule Monday - Friday: 8 am - 5 pm.
With availability to attend events as needed evenings and weekends.
In your role you will have the ability to combine in-person and remote work.
This position can be based out of our Tacoma or Lynnwood Corporate office.
About Sound Credit Union… Sound Credit Union (Sound) was founded in 1940 and is one of Washington State’s largest credit unions.
We have 26 full-service branches located throughout the Puget Sound region.
At Sound, we pride ourselves on making connections with our members, employees, and community.
We’d love to share more about why Sound is somewhere you want to be, apply now, and visit our website at: www.
soundcu.
com.
The future is in our hands… Sound Credit Union is proud to be an Equal Opportunity and Affirmative Action employer that is committed to diversity, equity, and inclusion.
All qualified applicants will receive consideration for employment without regard to race, color, religion, sex, sexual orientation, gender identity or expression, national origin, veteran status, disability, age or any other protected status.
People of color, women, LGBTQIA+, veterans and persons with disabilities are encouraged to apply!