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Underwriter - SBA

ReadyCap Lending offers a positive and diverse work culture incorporated with people who are passionate about their careers. We pride ourselves in being viewed as a premier place to work and encourage you to view our Underwriter (SBA) opportunity.

***THIS POSITION CAN BE LOCATED IN EITHER NEW PROVIDENCE, NJ or IRVING, TX***

The primary responsibilities of the Originations Underwriter will be to evaluate business cash flow and its acceptability as a primary source of repayment for certain loan programs (SBA and Owner User Conventional).  The OU will perform review and credit analysis of financial information presented by potential borrowers.  In addition the OU will prepare written loan submission for Credit approval and present written loan recommendation to Credit Committee. The goal is to structure a loan that meets the requirements of the potential borrower, ReadyCap, and SBA (as applicable).

Summary of Essential Job Functions:

  • Promote a favorable image of ReadyCap Lending to potential and existing clients and referral agents.
  • Credit Officer has the flexibility to underwrite each credit application and evaluate the unique facts and circumstances of the individual application. Each application warrants individual evaluation and judgment.
  • Expected to offset the advantages and disadvantages, shore up weakness, expound on strengths, and in the end make a reasonable and informed credit recommendation (as the credit analysis for commercial lending does not lend itself to credit score or pure ratio analysis).
  • Contribute to efficient loan processing and closing by maintaining a thorough understanding of ReadyCap’s guidelines and procedures, compliance requirements, SBA regulations, and various federal and state laws and regulations.
  • Promptly report to the Credit Manager or senior management any adverse events or information that would have a material effect on the lending operation or any event or situation that could be a conflict of interest.
  • Contribute to loan decision making process and maintenance of portfolio credit quality by providing in-depth credit analysis of loan applications.  Prepare a Credit Approval Memo to recommend a loan request that presents the following information:
  • Loan is of required quality and no violation of guidelines or regulatory requirements exist.  If an exception to guidelines exists, it is fully disclosed and justified.
  • Borrower has been interviewed and creditworthiness has been thoroughly investigated.
  • Adequate financial statements and other pertinent information have been reviewed and analyzed, along with current economic conditions that affect the transaction.
  • Loan is properly priced based upon the Pricing Matrix.
  • Loan will be properly documented in full compliance with the approved credit request.
  • Value and existence of collateral is verified.
  • Correct risk rating is assigned to the credit.

Education and/or Experience:

  • Bachelor degree (preferably in Finance, Real Estate, Accounting, or Business Administration) and 3 to 5 years of experience in Commercial Lending (C&I and Owner Occupied Real Estate Lending) and SBA Lending.
  • Sound financial analysis skills.
  • Ability to read and interpret documents such as safety rules, operating and maintenance instructions, and procedure manuals.
  • Ability to write routine reports and correspondence. 
  • Ability to speak effectively before groups of customers or employees of organization.
  • Diplomacy in dealing with associates.
  • Ability to apply common sense understanding to carry out instructions furnished in written, oral, or diagram form. 
  • Ability to deal with problems involving several concrete variables in standardized situations.      
  • Ability to calculate figures and amounts such as discounts, interest, commissions, proportions, percentages, area, circumference, and volume.
  • Ability to apply concepts of basic algebra and geometry.
  • To perform this job successfully, an individual should have knowledge of Internet software and Microsoft Office software including Excel, Word, Outlook, and PowerPoint, and financial spreadsheet systems such as Moodys.

As an approved SBA lender, ReadyCap Lending, understands the financing needs of small and growing businesses. Our knowledgeable experts take pride in delivering customized 7(a) and 504 loans to help businesses thrive and prosper.

With concierge-like personal attention, ReadyCap Lending is set apart by its credit decisions, processing speeds and common-sense, solution-oriented underwriting.  We see lending differently!

ReadyCap Lending offers a full range of benefits, including competitive salary, comprehensive health plans to choose from including dental, vision coverage, company-paid life & disability insurance policies, business casual dress and a great culture!

ReadyCap Lending is an equal opportunity employer (EOE)!

 


 

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