SBA Disbursement Agent

Job Summary:

Responsible for providing support to SBA Lenders, SBA Portfolio Managers, SBA Credit Underwriters, and SBA Closers.

Responsibilities and Duties:

Multi-Disbursement Construction Loans:

• Coordinate with SBA Portfolio Managers and SBA Underwriting Officers to establish appropriate multi-disbursement (construction) due diligence prior to loan approval.
• Commence construction / multi-disbursement file preparation upon receipt of signed Commitment Letter.
• Review LAR and executed Commitment Letter to become familiar with the loan.
• Prepare construction letter to inform applicant of construction process including GC qualification, cost review analysis, and items needed for first disbursement.
• Send construction checklist to SBA Closing Manager / SBA Closer / SBA Loan Administrator who will in turn ensure it’s included on initial closing needs checklist.
• Obtain GC qualification items from SBA Closing Manager / SBA Closer after collection and review with SBA Underwriting Officer, if appropriate.
• Obtain construction contract from SBA Closer and review for compliance with industry standards as well as Bank requirements.
• Submit for cost review, if appropriate, and construction monitoring bid through third-party approved Construction Risk Management vendor.
• Communicate fee(s) to SBA Closing Manager / SBA Closer for inclusion on equity injection verification for fee(s) to be paid at closing.
• Order contractor evaluation, if appropriate, through third-party approved Construction Risk Management vendor.
• Send construction letter after the Construction Risk Management due diligence call outlining the process from initial documentation through the final disbursement.
• Own all applicants contact regarding construction due diligence and work with SBA Closer and SBA Loan Administrator throughout closing process.
• Consult with SBA Underwriting Officer and SBA Loan Administrator for any project changes that affect original credit approval (i.e.., reallocation of proceeds, contract changes, cost increases, etc.)
• Facilitate call between applicant, GC, third-party Construction Risk Management vendor (if applicable) to review process, timing, draw requests, site inspections, etc.
• Ensure loan proceeds are disbursed in accordance with SBA Loan Authorization approved purposes and only funded upon full documentation.
• Coordinate documentation between applicant and vendors / supplier ensuring appropriate invoices / backup are received for funding.
• Obtain Credit approval for changes in use of loan proceeds ˃ 20% or $50,000.
• Compile complete and accurate draw packages for disbursement processing and send to Bank Loan Operations for processing.

Multi-Disbursement Non-Construction Loans:

• Coordinate with SBA Portfolio Managers and SBA Underwriting Officers to establish appropriate multi-disbursement (non-construction) due diligence prior to loan approval.
• Commence multi-disbursement file preparation upon receipt of signed Commitment Letter.
• Review LAR and executed Commitment Letter to become familiar with the loan.
• Send multi-disbursement needs checklist to SBA Closing Manager / SBA Closer / SBA Loan Administrator who will in turn ensure it’s included on initial closing needs checklist.
• Communicate fee(s) to SBA Closing Manager / SBA Closer for inclusion on equity injection verification for fee(s) to be paid at closing.
• Participate in call with applicant to review process, timing, draw requests, etc.
• Own all applicants contact regarding construction due diligence and work with SBA Closer and SBA Loan Administrator throughout closing process.
• Consult with SBA Underwriting Officer and SBA Loan Administrator for any project changes that affect original credit approval (i.e.., reallocation of proceeds, contract changes, cost increases, etc.).
• Ensure loan proceeds are disbursed in accordance with SBA Loan Authorization approved purposes and only funded upon full documentation.
• Coordinate documentation between applicant and vendors / supplier ensuring appropriate invoices / backup are received for funding.
• Obtain Credit approval for changes in use of loan proceeds ˃ 20% or $50,000.
• Compile complete and accurate draw packages for disbursement processing and send to Bank Loan Operations for processing.
• Track loans with interest reserve proceeds, requesting draw to disburse and coincide with due dates.
• File UCC amendments (or engage third-party counsel when necessary) when UCC amendments are needed due to equipment purchases.
• Monitor disbursements and be point of contact for applicant- throughout the multi-disbursement period.
• Order final lien search prior to funding final construction draw request (for non-construction draw requests, a final lien search may be ordered).
• When funding is 85% complete, begin gathering the following, as applicable: 1) Final draw request; 2) Insurance(s); 3) Business/Liquor license; 4) Final use of proceeds; 5) Outstanding post-close items; 6) Order final lien search during processing of final draw (if applicable); 7) Other documentation requirements deemed appropriate for a specific file.

General Requirements:

• Track loans with interest reserve proceeds, requesting draw to disburse and coincide with due dates.
• File UCC amendments (or engage third-party counsel when necessary) when UCC amendments are needed due to equipment purchases.
• Monitor disbursements and be point of contact for applicant- throughout the multi-disbursement period.
• Order final lien search prior to funding final construction draw request (for non-construction draw requests, a final lien search may be ordered).
• Maintain pipeline of all open multi-disbursement loans.
• Track original loan amount, disbursements, disbursement dates, and approved draw period providing report to SBA Managing Director and SBA Closing Manager on a monthly basis.
• Utilize critical thinking skills and apply reasonable decision making when team members need guidance on SBA SOP and/or operational procedures.  Provide solutions that are compliant with SBA SOP and/or operational procedures.

• Upload Gathered Documents to Sageworks.
• Perform job duties with little to no supervision to fulfill responsibilities.
• Assist in development of new or revision of existing loan disbursement processes and procedures.
• Maintain documentation per bank policy and SBA SOP (standard operating procedures).
• Interact with other departments and officers of Bank to maintain teamwork environment.
• Additional responsibilities as may be assigned by management.
• Complete required annual compliance training.
• Integrity, discretion, and respect for confidential information are essential.

Job Skills and Qualifications:

• Microsoft Office – Word, Excel, PowerPoint
• Ability to type at 45 WPM

Preferred Skills; Experience; Certifications

• Experience in customer service preferred
• Loan experience preferred but not required

Education/Certifications (required)

• High School Diploma/GED