Small Business Loan Processor
Cyprus Federal Credit Union, West Jordan, UT, United States
Position Overview
Cyprus Credit Union of Salt Lake City, UT is seeking to hire a full‑time Business Loan Processor. This position is responsible for processing and closing small business and commercial loans and overseeing clerical support for borrower relationships and other business lending activities. The processor ensures all documents are correct and complete, follows loan deadlines, and provides support and expertise to branch and call center staff regarding business loan products. The role interacts with underwriters and loan officers on an ongoing basis for loan updates.
Primary Responsibilities
Assist Business Loan Relationship Managers and Business Advisors in gathering data for loan underwriting such as financial documentation, real property tax valuations, articles of incorporation, business licenses, credit reports, etc.
Collect loan file documentation such as title reports, insurance, environmental evaluations, SBA documents, etc.
Interface with Title Company to order title reports and ensure accuracy.
Collect environmental data from borrower and order environmental reports.
Prepare paperwork to order appraisal reports and ensure appraisals are audited prior to loan funding.
Interface with Branch or other Business Services employees to open business accounts and load business loans; ensure they are set up correctly and match all loan documents.
Create loan documents using document preparation software.
Work with underwriters and loan officers to ensure documentation is correct and all loan conditions are satisfied prior to closing.
Establish and maintain effective documentation and ensure compliance of business lending practices.
Receive required signatures for loan funding.
Complete loan file checklist to ensure compliance with internal audit guidelines.
Prepare loan funding documentation and obtain funding approval.
Ensure that all new loans are boarded correctly.
Regularly update a pipeline report that shows loans in various stages of underwriting.
Coordinate activities with branches and related departments; obtain or convey information as needed.
Assist and support Business Services personnel as needed.
Keep management informed of area activities and significant problems.
Attend and participate in meetings as required.
Handle inbound phone calls from members and Cyprus employees.
Prepare loan application and other documentation to be signed by loan applicants.
Complete special projects as assigned.
Performance Measurements
Business loans processed in accordance with established policies and procedures.
Document preparation accurate, neat, and timely.
Files current and well organized.
Miscellaneous clerical functions efficiently and effectively completed.
Professional working relations with members; assistance provided as needed; questions answered courteously and promptly.
Good working relations and communications with Credit Union personnel and management; assistance and support provided as needed; management appropriately informed.
Qualifications
Education/Certification
– High school graduate or equivalent; associate’s or bachelor’s degree in finance, accounting, business, or related field preferred.
Required Knowledge
– Basic knowledge of business account services and procedures; familiarity with business loan programs and closing requirements; familiarity with general loan documentation; working knowledge of financial statements and statement analysis; basic understanding of IRS documents 1040, Schedule C, 1065, 1120S, and Schedule K‑1; prior experience using document preparation software helpful.
Experience
– One to three years of experience in a bank or credit union environment preferred.
Skills and Abilities
– Accurate and attentive to detail; well organized; strong typing abilities; ability to assist others; able to use computer, adding machine, copy machine, and basic business equipment.
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Primary Responsibilities
Assist Business Loan Relationship Managers and Business Advisors in gathering data for loan underwriting such as financial documentation, real property tax valuations, articles of incorporation, business licenses, credit reports, etc.
Collect loan file documentation such as title reports, insurance, environmental evaluations, SBA documents, etc.
Interface with Title Company to order title reports and ensure accuracy.
Collect environmental data from borrower and order environmental reports.
Prepare paperwork to order appraisal reports and ensure appraisals are audited prior to loan funding.
Interface with Branch or other Business Services employees to open business accounts and load business loans; ensure they are set up correctly and match all loan documents.
Create loan documents using document preparation software.
Work with underwriters and loan officers to ensure documentation is correct and all loan conditions are satisfied prior to closing.
Establish and maintain effective documentation and ensure compliance of business lending practices.
Receive required signatures for loan funding.
Complete loan file checklist to ensure compliance with internal audit guidelines.
Prepare loan funding documentation and obtain funding approval.
Ensure that all new loans are boarded correctly.
Regularly update a pipeline report that shows loans in various stages of underwriting.
Coordinate activities with branches and related departments; obtain or convey information as needed.
Assist and support Business Services personnel as needed.
Keep management informed of area activities and significant problems.
Attend and participate in meetings as required.
Handle inbound phone calls from members and Cyprus employees.
Prepare loan application and other documentation to be signed by loan applicants.
Complete special projects as assigned.
Performance Measurements
Business loans processed in accordance with established policies and procedures.
Document preparation accurate, neat, and timely.
Files current and well organized.
Miscellaneous clerical functions efficiently and effectively completed.
Professional working relations with members; assistance provided as needed; questions answered courteously and promptly.
Good working relations and communications with Credit Union personnel and management; assistance and support provided as needed; management appropriately informed.
Qualifications
Education/Certification
– High school graduate or equivalent; associate’s or bachelor’s degree in finance, accounting, business, or related field preferred.
Required Knowledge
– Basic knowledge of business account services and procedures; familiarity with business loan programs and closing requirements; familiarity with general loan documentation; working knowledge of financial statements and statement analysis; basic understanding of IRS documents 1040, Schedule C, 1065, 1120S, and Schedule K‑1; prior experience using document preparation software helpful.
Experience
– One to three years of experience in a bank or credit union environment preferred.
Skills and Abilities
– Accurate and attentive to detail; well organized; strong typing abilities; ability to assist others; able to use computer, adding machine, copy machine, and basic business equipment.
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