In accordance with established lending policies and procedures, the BDO originates new SBA and Government Guaranteed Loan volume in accordance with established annual goals and objectives. Examines, evaluates, and recommends approval of commercial customer applications for extensions of credit, predominately through SBA loan programs. Interviews applicants and requests specified information for loan application. Structures credits in a manner consistent with SBA program guidelines, as well as bank credit standards to maintain a high-performing portfolio. Develops customer relationships through friendly, courteous and responsive service. Promotes Bank's services to current and potential customers through various trade shows and other marketing efforts. Develops strong relationships with referral sources nationwide.
- Develops and maintains strong relationships with referral sources (such as CRE brokers, business brokers, professional associations, etc.); utilizes experience and BDO’s referral network to generate new business and expand referral sources.
- Has existing referral network and business contacts (exclusive of bank referrals) established that will enable BDO to generate loan opportunities that will result in loan production in excess of $15,000,000 during initial year in role.
- Works with marketing team to develop business through various other channels, such as online content, webinars, customer testimonials and trade shows.
- Collects complete underwriting packages to analyze applicants' financial status, character, and global cash flow to determine if loan requests meet SBA eligibility guidelines, as well as Bank's credit policies.
- Structures loan opportunities to comply with Bank and SBA standards, and to maximize profitability for the bank.
- Evaluates sources of repayment on potential loan requests and relay pertinent information to teammates down the line.
- Corresponds with and interviews applicants or creditors to resolve questions regarding application information. Applicant interviews entail a site visit on each deal.
- Recommends quality loans to loan committee for approval and rejects loans that do not meet lending criteria.
- Works hand-in-hand and respectfully with the underwriter, credit officer, closer, and construction relationship officer (if applicable), to ensure smooth process for all involved. Manages customer expectations and helps resolve issues and problems promptly.
- Maintains relationships with existing loan account customers, and helps LOB servicing team with any special requests or problems that may arise with customers.
- Utilizes technology to manage leads, pipeline, and referral sources. Stays abreast of portfolio metrics and performance.
- Remains well-informed of economic conditions, changes and trends in customers' businesses and the banking industry.
- Has responsibility for following regulatory requirements including those pertaining to the Bank Secrecy Act (BSA), Anti-Money Laundering (AML), Customer Identification Program (CIP), and OFAC to assist in the identification, detection and determent of money laundering or other unlawful activities.
- Functions as a team and realizes all members of the team are vital to its success.
- Stays current with products and services the Bank is offering.
- Performs other duties as required.
- Excellent customer service and interpersonal skills
- Sound judgment
- Detail oriented
- PC proficiency
- In-depth knowledge of Bank lending policies, procedures and criteria
- Ability to work productively from a home office if not relocating to Wilmington
- Minimum of a bachelor's degree in Finance, Business, or Marketing; an MBA is preferred.
- Formal SBA credit training is preferred.
- Ten to fifteen years SBA lending experience is preferred, with an average loan volume of $15mm - $20mm over the last three years – the majority of which should stem from outside referral sources rather than internal business bankers. Historical loan production required to be of acceptable credit quality in industries and business types that are deemed acceptable by Live Oak Bank standards.
Physical Demands/Work Environment Requirements:
- Vision, hearing, speech, movements requiring the use of wrists, hands and/or fingers
- Able to sit, stand, stoop and bend
- The ability to work the days and hours required to fulfill the essential functions of the position
- The ability to work long hours and to multitask
- Must have a valid driver’s license
- Learning, thinking, concentration
- The ability to interact with others and exercise self-control
- The ability to work under stressful conditions, particularly in customer situations
- The ability to make decisions and exercise discretion, when necessary