Loan Processor jobs in New York, NY

Responsibilities:

• Manage and process MCA (Merchant Cash Advance) Loans and SBA (Small Business Administration) Financing applications for businesses.
• Utilize existing leads and generate new leads to expand the client base.
• Conduct extensive calling to follow up with leads and close loan deals.
• Evaluate loan applications and assess the creditworthiness of borrowers.
• Collaborate with underwriters and other team members to ensure smooth loan processing.
• Provide excellent customer service by addressing client inquiries and concerns throughout the loan application process.
• Maintain accurate records of loan applications, approvals, and disbursements.
• Stay updated on industry regulations and best practices to ensure compliance with lending standards.
• Assist in developing and implementing strategies to optimize loan processing efficiency and profitability.

Qualifications:

• Previous experience in lending, sales, and underwriting is essential.
• Familiarity with MCA Loans, SBA Financing, and asset-based lines of credit.
• Strong communication and negotiation skills to effectively interact with clients and stakeholders.
• Ability to work independently and in a team environment, demonstrating initiative and problem-solving skills.
• Experience in commercial banking or lending is highly preferred.
• Knowledge of banking regulations and compliance requirements.
• Bachelor's degree in finance, business administration, or a related field is preferred but not required.

Compensation:

• Base salary of $70,000 annually.
• Additional commission of 10% of the total profit generated from each loan closed.
• Opportunity for performance-based bonuses and incentives.
• Comprehensive benefits package including health insurance, retirement plans, and paid time off.