SBA Underwriter II

Overview

The organization is seeking an SBA Underwriter II to support lender partners with SBA loan requests. This role prepares pre-assessment materials for eligibility, collects and spreads borrower documentation, and produces a Credit Summary for SBA eligibility in accordance with SBA SOP and lender policy and guidelines. Work is reviewed for quality control prior to forwarding to the lender.

Responsibilities

• Prepare, review, and analyze the creditworthiness of all applicant loan requests by spreading company and personal financial statements.
• Manage loan applications and assist lenders and borrower relationships by communicating to determine if the loan is a candidate for the SBA Loan Program.
• Inform lenders of SBA guidelines for loan structure, including maximum rate and term depending on the requested loan.
• Assist lenders with sources and uses of the loan request.
• Review relevant financial and deal materials, including:
  • Construction budget
  • Inventory list
  • FF&E costs estimate/invoices
  • Purchase agreements
  • Debt refinance analysis
  • Business acquisition/partner buyout
  • Working capital needs
• Prepare a collateral table to assess business asset adequacy and apply SBA liquidation percentages to determine net asset value.
• If a collateral shortfall exists, evaluate whether SBA may require personal and/or affiliate assets for coverage.
• Prepare a Business Overview covering business description and history, locations, products/services, business model, management, succession plan, competition, vendors, defined market area, customer base, strengths, and weaknesses.
• Compare business NAICS and Franchise to Coleman statistics and FRAN data for trends and success rates.
• Spread historical and projected financial documents to determine cash flow and repayment, demonstrating the applicant meets SOP guideline for DSC of 1.15x or better.
• Analyze projection assumptions for reasonableness regarding sales and net profit.
• Determine projected break-even and evaluate “what if” scenarios.
• Discuss RMA Common Size ratios compared to borrower revenues and expenses.
• Analyze and spread affiliate business information to show affiliates will not strain the applicant/borrower.
• Analyze principals’ and guarantors’ personal financial statements, personal tax returns, and credit reports.
• Prepare global cash flow and rate sensitivity spreads to determine the business and affiliates meet SOP guideline for DSC of 1x.
• Spread historical balance sheets and compare to RMA common size ratios.
• Based on sources and uses, prepare pro-forma balance sheets showing how the transaction affects the balance sheet.
• Discuss current and debt to tangible net worth ratios and compare to RMA ratios.
• Complete SBA 7(a) eligibility requirements, including size standard analysis (or alternate size standard analysis) to show the applicant and affiliates meet SBA determinations for the Small Business.
• If applicable, review CAIVRS for delinquent Federal debt and prior loss to the Federal Government.
• Obtain and review Sam.gov reports for the business, principals, affiliate businesses, broker/agent, LSP employees, and SBA lender to confirm none are debarred from conducting business with the Federal Government.
• Collaborate daily with the underwriting team to improve underwriting processes and the lender/borrower experience.
• Partner with the packager/closer team to support smooth hand-off for submission and closing.
• Assist with screen-out responses, credit addendums, and memos to the file as needed.
• Support and help implement organizational initiatives.
• Ensure security and confidentiality of private customer information, protecting against unauthorized access or use.
• Exercise discretion and independent judgment to identify items that may impact risk.

Minimum Education & Experience

• Bachelor’s Degree in Finance or Accounting (or other related area) or equivalent relevant experience.
• Minimum 3 years of commercial loans and/or SBA/USDA loan experience.
• Recent underwriting experience in a high-volume environment with full knowledge of lending requirements, regulations, and procedures for conventional, SBA, and USDA loan programs preferred.

Technical Knowledge & Skills

• Understanding of SBA Loan Programs and knowledge of eligible and ineligible loan requests.
• Knowledge of credit analysis, including:
  • Sources and uses of proceeds
  • Source of equity injection
  • Collateral analysis
  • Applicant financial analysis of repayment ability
  • Pro-forma business balance sheet spreads
  • Financial ratio benchmarks
  • Working capital adequacy
  • Business and industry overview, including management qualifications/experience
  • Affiliate cash flow analysis
• Strong verbal and written communication skills.
• Creative thinking and proactive problem solving; ability to work efficiently, meet deadlines, and follow projects through to completion.
• Strong organizational and detail-oriented skills.
• Strong computer skills; working knowledge of Microsoft Office Suite. Knowledge of computer systems related to commercial lending activities preferred.

Preferred Qualifications

• Recent underwriting experience in a high-volume environment with full knowledge of the lending requirement, regulations, and procedures for conventional, SBA and USDA loan programs preferred.

Compensation & Benefits

• Base salary range: $65,000 - $95,000 annually.
• Final placement within the range is based on factors such as geographical location, relevant experience, skill set, education, and ability to meet job qualifications.
• Yearly annual target bonus based on individual performance.
• Comprehensive benefits package including Medical, Dental, Vision, Company Paid Life Insurance, Disability Insurance, and more.
• 401(k) with company contributions (regardless of your contribution).
• Paid parental leave.
• Employee perks including an Employee Recognition Program, Leadership Program, Tuition Reimbursement Program, and an Employee Bank Checking Account.
• Generous Paid Time Off and Paid Holidays, including Paid Charity Hours.

Location / Working Arrangements

• 100% remote role.

Equal Opportunity / E-Verify

• E-Verify, Affirmative Action and Equal Opportunity Employer.