FSC First – Commercial Loan Settlement Coordinator

• Commercial Loan Settlement Coordinator
• Salary: $75,000 – $80,000
• Status: Full-time, Salaried Position with Fringe Benefits
• Filing Deadline: Open until filled

FSC First provides access to financing to small and minority businesses through distinct loan products. The loans are a product of public-private partnerships between a consortium of participating banks, Prince George’s County, Maryland, and FSC First.

FSC First is the premier lending partner for businesses in the region, providing creative and innovative financing to grow and sustain the local economy.

FSC First is a reliable provider of creative and innovative business financing solutions to established and emerging businesses in the State of Maryland. We also provide comprehensive loan administration services for loan programs that stimulate the growth and development of the local economy.

Role Purpose:

The Commercial Loan Settlement Coordinator will process SBA 504, 7(a) and other loan programs and coordinate the collection of required documentation from the borrower and/or Lending Partner. The Settlement Coordinator will support Loan Administration with a variety of critical closing procedures and coordination to ensure government-guaranteed loans are closed in compliance with the SBA SOP and the FSC First Policy and Procedures and Internal Controls.

Responsibilities:

• Coordinates the collection of required documentation from the borrower and/or lending partner as indicated by credit approval, closing attorney and/or internal procedures to ensure completeness of loan files
• Prepares SBA closing certification documents for SBA Closing Counsel
• Reconcile equity injection and make final verification determination
• Orders tax transcripts, UCC/Federal/State/County preliminary lien searches, appraisals, environmental reports and other required documents
• Ensures all pre- and post-closing documents are received, accurate and complete
• Review closing documents upon receipt from the closing attorney to ensure conformance with approved loan terms and conditions
• Works closely with the borrower, Underwriter, BDM, CLO and attorney to ensure smooth closing process
• Prepare and process draw for funding requests
• Builds electronic loan folder and scans loan documents into electronic scanning system
• Provide administrative duties to support the Loan Administration Team (i.e. recording and finalizing Minutes for loan committee meetings, program reconciliation reports, etc.)
• Work closely with Management to support efforts to meet lending goals and objectives.
• Other duties as directed by the Vice President Business Finance.

Requirements:

• Bachelor’s Degree in Business Administration, Public Finance, Finance and/or Economics or related field.
• 3 years’ experience packaging and closing SBA 504 and 7(a) loans
• Advanced knowledge of MS Excel and MS Office Suite.
• Excellent verbal, communication and writing skills.
• Some local travel and occasional evening work for special events.
• The position requires a flexible, conscientious, detail-oriented individual who can perform varied tasks with considerable organizational skills and creativity, and who can work largely independently but collaborate with the Loan Administration Team.

Preferred Skills:

• Experience with SBA, CRE, C&I, or construction lending
• Understanding of loan compliance and regulatory requirements
• Experience working with attorneys, title companies, and closing agents
• Strong analytical and problem-solving abilities

Work Environment:

• Office-based or hybrid work environment

Reports to: Vice President, Business Finance

How to Apply:

Submit cover letter with salary requirements and resume to: Dipti Patel, Vice President, Business Finance, via email to dpatel@fscfirst.com