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T
TEKsystems
SBA Eligibility Reviewer
Career Insights for Credit / Loan Counselor
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Based on Illinois data
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What they do
A Credit or Loan Counselor advises and educates individuals or organizations on acquiring and managing debt or qualifying for traditional loans. Guidance may include determining the best type of loan and explaining loan requirements or restrictions. May help develop debt management or credit issue plans. Can provide budget, mortgage or bankruptcy counseling.
$44,708 / year median in Illinois
-14% projected decline
Job Description
TEKsystems is hiring SBA Eligibility Reviewers to compile SBA Loan packages to submit for review to the SBA once the loan has defaulted. The SBA Eligibility Review Officer I is responsible for reviewing
SBA & USDA
guaranteed business loans to determine proper structure and ensure loan closes in accordance withSBA & USDA
eligibility requirements. Duties & Responsibilities Maintains an individual pipeline of work, with loans typically having customer exposure up to $1 million. Appropriately assess eligibility of borrower(s), co-borrower(s), guarantor(s) assuring that, if needed, the SBA guarantee can be enforced. Interacts with the internal SBA Sales and Operations colleagues to facilitate understanding of the SBA and USDA guaranteed loan programs as well as to understand the credit request, obtain necessary eligibility information, and communicate eligibility decision and reasoning. Reviews use of proceeds, orders SBA Number, prepares SBA Loan Authorization and other SBA forms and is responsible for ensuring the loan meets allSBA/USDA
requirements. Reviews all reports and information received with respect toSBA/USDA
eligibility requirements to determine if terms and conditions of the SBA credit approval will be met. This includes review of franchise agreements, purchase agreements, bank notes, and business plans. Researches and resolves servicing questions from the SBA and internal personal to ensure the guaranty can be maintained. May be asked to advise Financial Recovery Group (FRG)) colleagues in properly working out, liquidating, and litigating SBA loans. May also be required to submit final wrap up reports to the SBA once resolution has been made. May serve as main point of contact to commercial loan servicing colleagues to ensure proper accounting and reporting of all SBA loans (1502 Report). Performs other tasks as needed to support the line of business and job family. Skills & Qualifications SBA Loan experience - liquidation, guarantee, loss mitigation, default High attention to detail Understand the guarantee eligibility aspect of SBA loans Job Type & Location This is a Contract to Hire position based out of Schaumburg, IL. Pay and Benefits The pay range for this position is $30.00 - $45.00/hr. Individual compensation offered for this position within this range will depend on many factors, including qualifications, skills, relevant experience, job knowledge, geographic location, internal equity, and other pertinent job-related factors. Eligibility requirements apply to some benefits and may depend on your job classification and length of employment. Benefits are subject to change and may be subject to specific elections, plan, or program terms. If eligible, the benefits available for this temporary role may include the following:- Medical, dental & vision
- Critical Illness, Accident, and Hospital
- 401(k) Retirement Plan - Pre-tax and Roth post-tax contributions available
- Life Insurance (Voluntary Life & AD&D for the employee and dependents)
- Short and long-term disability
- Health Spending Account (HSA)
- Transportation benefits
- Employee Assistance Program
- Time Off/Leave (PTO, Vacation or Sick Leave) Workplace Type This is a hybrid position in Schaumburg,IL.