Job Summary:

We are seeking a skilled and experienced SBA Loan Workout Specialist to join our team. The ideal candidate will have a strong understanding of SBA loan programs and regulations, as well as experience in loan workouts, restructuring, and asset recovery. The primary responsibility of this role is to manage distressed SBA loans, develop and implement workout strategies, and work closely with borrowers to resolve their financial difficulties while protecting the interests of the lender.

Position Duties and Responsibilities:

1. Oversee a portfolio of distressed SBA loans, including analyzing financial statements, identifying underlying issues, and determining appropriate workout solutions.
2. Collaborate with borrowers to develop comprehensive workout strategies tailored to their specific financial circumstances, which may include loan modifications, extensions, forbearance agreements, or other restructuring options.
3. Negotiate terms and conditions of workout agreements with borrowers, ensuring compliance with SBA regulations and internal policies while maximizing recovery for the lender.
4. Monitor the progress of workout plans, including reviewing financial performance, assessing compliance with agreed-upon terms, and addressing any emerging issues promptly.
5. Work closely with internal teams such as credit, legal, and risk management to assess risk, obtain necessary approvals, and ensure alignment with organizational objectives.
6. Serve as a subject matter expert on SBA loan workouts, providing guidance and support to colleagues and stakeholders as needed.
7. Prepare accurate and timely documentation of workout agreements, correspondence, and other related materials. Generate reports and analysis as required by management.
8. Stay abreast of changes in SBA regulations, industry trends, and best practices related to loan workouts and asset recovery.

Position Requirements and Qualifications:

• Strong understanding of SBA regulations and loan programs, including 7(a), 504, and other relevant programs.
• Excellent negotiation, communication, and interpersonal skills.
• Ability to analyze complex financial information and develop creative solutions to resolve borrower financial difficulties.
• Proficiency in Microsoft Office Suite and loan servicing software. 
• Detail-oriented with strong organizational and time management skills

Education and Experience:

• Bachelor's degree in finance, accounting, business administration, or a related field.
• A minimum of three years of experience in commercial lending, loan workout, or asset recovery, with a focus on SBA loans, is preferred.

Physical Requirements:

Prolonged periods sitting at a desk and working on a computer.

Must be able to lift up to 25 pounds at times. 

Travel as required for in-person meetings and/or training.

Other Duties:

Please note this job description is not designed to cover or contain a comprehensive listing of activities, duties or responsibilities that are required of the employee for this job. Duties, responsibilities, and activities may change at any time with or without notice.

First Bank of the Lake is an Equal Employment Opportunity Employer.  All applicants must agree to pre-employment screening.  We comply with the Pay Transparency Nondiscrimination Provision.  All applicants are required to provide documentation to verify their work authorization status and identity, we participate in E-Verify.