How to Become a SBA Banking Manager
Step 1: Understand the job description and responsibilities of a SBA Banking Manager
What does a SBA Banking Manager do?
A SBA Banking Manager manages a team of SBA (Small Business Administration) officers who are responsible for generating SBA loans. Develops and executes business plans aligned with managements objectives and directs the generation of sales opportunities. Being a SBA Banking Manager ensures all SBA eligibility, regulations and underwriting guidelines are followed. Reviews loan quality and oversees process. Additionally, SBA Banking Manager requires a bachelor's degree. Typically reports to top management. The SBA Banking Manager typically manages through subordinate managers and professionals in larger groups of moderate complexity. Provides input to strategic decisions that affect the functional area of responsibility. May give input into developing the budget. Capable of resolving escalated issues arising from operations and requiring coordination with other departments. To be a SBA Banking Manager typically requires 3+ years of managerial experience.
Based on our compensation data, the estimated salary potential for SBA Banking Manager will increase 16 % over 5 years.
Ready to grow your business? An SBA loan can help you accomplish your goals and may result in more favorable terms, such as a longer loan life and lower equity requirements.
Daniel Walsh, Vice President and Senior Corporate Relationship Manager with BBVA, offers these do’s and don’ts when it comes to applying for an SBA loan.
But some commercial banking services can ease stress and improve efficiency.
And, in fact, they do process a significant volume of SBA-backed loans, which offer entrepreneurs lower interest rates and down payments, and longer repayment terms than ordinary bank loans.
Step 2: Learn best tips to become a SBA Banking Manager
Best tips for those who want to become a SBA Banking Manager
Here are some tips to become a SBA Banking Manager.
Step 3: View best colleges and universities for SBA Banking Manager
Best colleges and universities for SBA Banking Manager
- Florida Southern College
- Colby College
- Dartmouth College
- University of Notre Dame
- Western Washington University
- Canisius College
Step 4: Think about whether is it worth to be a SBA Banking Manager
Is being a SBA Banking Manager Worth it?
Ensure that Citizens SBA program generates loans and loan sale premium income, in accordance with established business development and sales goals.
Coach a team of sales specialists that will accept referrals from front-line Relationship Managers, Market Managers and Regional Directors in the fulfillment efforts for referrals and for the negotiating, completion of SBA required documentation, and closing of SBA 7A and 504 loans.
Drive significant SBA loan growth by managing consistent execution of SBA Sales Specialists' activities involving partnering on identified business development opportunities as well as follow-through on eligibility requirements necessary to complete individual transactions.
Monitor SBA monthly sales efforts, ensuring that business development sales targets and results are achieved.
Direct SBA Specialists to ensure they maintain constructive and positive working relationships with internal colleagues, borrowers and their representatives, as well as referral sources.
Step 5: Prepare relevant skills for being a SBA Banking Manager
What skills do you need to be a SBA Banking Manager?
Management is no easy task, and as such, the skill requirements for these types of roles vary greatly. Chief skills for this role are: Lending Operations. You would need to be proficient in the following: Loan Software. Expertise in these areas will help you land this, or a similar role.
Are you ready to sell your business, but have no financing options to recommend to your buyer? Or are you buying a business, but lack the funds to do so? An SBA loan may be a great choice.
An SBA (Small Business Administration) loan is a loan backed by a government guarantee, providing operating companies with the ability to obtain financing in otherwise difficult financing situations.
Dave Caster is a 34 year banking veteran, with experience in all aspects of commercial banking.
Dowling brings a wealth of experience to Customers Bank, having been in banking and SBA Lending for over 30 years.
McSpadden has more than 15 years of banking experience.
Step 6: View average salary for SBA Banking Manager
How much does a SBA Banking Manager make?
The average salary range for a SBA Banking Manager is from $117,308 to $170,132. The salary will change depending on your location, job level, experience, education, and skills.
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Average salary for SBA Banking Manager jobs
- Regional Sales Manager - SBA
- SBA Regional Sales Manager
- Officer - SBA Business Development
- SBA Business Development Officer II
- Entry SBA Business Development Officer
- Senior Officer - SBA Business Development
- SBA Business Development Officer I
- Online Banking Manager