BUILD YOUR CAREER
AT RCEDC
NOW HIRING Full time Positions
Racine County, Wisconsin is the headquarters of Racine County Economic Development Corporation (RCEDC), a non profit established in 1983 to attract new business and development and facilitate existing business expansion projects.
RCEDC is an AA/EEO Employer: All applicants will receive consideration for employment without regard to race, color, national origin, religion, sex, sexual orientation, gender identity/expression, disability, or protected veteran status. Individuals from diverse backgrounds are encouraged to apply.
The Commercial Loan Processor will focus on maintaining a list of needs and questions for the borrower, banker, and loan officers for each loan file; Create the Ventures Loan Application file and build out eligibility fields, i.e., financing structure, public policy goals, job creation, occupancy, etc.; Conduct public records checks on borrowing entities, affiliates, and personal guarantors.
Some essential duties and responsibilities include:
- Input financial statements, tax returns, and debt schedules
- Write a narrative on the business entities
- Complete collateral analysis
- Review and complete Appraisals
- Pull and analyze credit reports
- Process loan renewals
- Additional duties as assigned
The Loan Servicing Specialists work closely with the Loan Closing Specialist and the Loan Portfolio Manager to ensure that the loan files are set up and maintained accurately.
- LOAN SERVICING 80%
- Maintains a list of needs and questions for the borrower, banker, and loan officer for each loan file.
- Creates Ventures Loan Application file and builds out eligibility fields, i.e. financing structure, public policy goals, job creation, occupancy, etc.
- Conducts public records checks on borrowing entities, affiliates, and personal guarantors.
- Inputs financial statements, tax returns, and debt schedules into Ventures software Writes financial analysis narrative on the business and personal entities.
- Writes a narrative on the business entities and management history.
- Completes collateral analysis and recommends whether life insurance should be required, and/or why a collateral shortfall is acceptable.
- Reviews and completes Appraisal and Environmental checklists to ensure SBA compliance of the reports supplied.
- Pulls and analyzes credit reports for all required entities.
- Processes loan renewals following steps 3-9 above, in addition to preparing a memo for Loan Committee approval.
- FOR SBA LOANS:
- Prepares 1244 application to SBA, as well as the Terms and Conditions for the 504 loans.
- Ensure timely preparation and submission of accurate SBA 504 loan packages to SBA through its eTran system.
- In the event of a screen out/ decline, the Credit Analyst works closely with the Loan Officer to resolve issues and receive approval.
- CLOSING, SERVICING & COMPLIANCE 15%
- Acts as a resource to enable the Loan Closer to complete the closing process effectively.
- Prepares and submits 327s as needed by the Attorney or Loan Closer if credit analysis is required.
- Support the Loan Servicing team as they perform risk rating actions for the loan portfolio.
- Support the Loan Servicing team on more complicated, troubled loans.
- Support the Loan Servicing team on servicing actions relating to credit decisions, i.e. subordinations, deferments, etc.
- Support the Loan Servicing team when needed to complete loan recipient site visits.
- Support the Loan Servicing team and the Executive Director in updating the SBA policy manual and the local RLF policy manuals.
- Assists with file reviews in preparation for audits as required.
- Assists management with other general duties and compliance projects as needed.
- ADDITIONAL DUTIES 5%
- Participates in other project assignments as directed by the Executive Director.
- Other special projects as assigned.