What You'll Do:The Closing Team Lead is responsible for leading the closing process for complex SBA loans while providing day-to-day leadership, oversight, and technical guidance to the Closing Department. This role ensures SBA loan transactions are closed in compliance with SBA SOPs, internal credit policy, closing standards, eligibility requirements, and regulatory guidelines. The Closing Team Lead serves as the department's subject-matter expert, supervises and reviews the work of Closing Officers, monitors workflow and production, and partners with management to maintain operational excellence, quality control, and regulatory compliance throughout the closing process.
Principal Responsibilities: Loan Closing & Documentation- Lead the closing of SBA transactions from credit approval through funding.
- Review SBA Terms & Conditions, credit memos, underwriting analyses, and closing conditions to confirm accuracy and eligibility.
- Prepare closing documents including Note, Guarantee, Security Instruments, UCC filings, Compliance Agreements, and SBA-required forms using LaserPro and other systems.
- Ensure proper execution of all SBA-required documents and verify consistency across all closing packages.
- Review settlement statements, escrow instructions, and wire requests for accuracy.
Compliance & SBA SOP Adherence- Confirm every loan meets SBA SOP requirements, including use of proceeds, collateral, equity injection, franchise documentation, and eligibility.
- Validate borrower and guarantor compliance with OFAC, Flood, Environmental, and Know-Your-Customer requirements.
- Verify proper completion of SBA forms (including 1919, 1920, 159, 912 requirements, financial statement updates, and authorization compliance).
- Ensure all conditions precedent to funding are met and documented according to SOP and internal policy.
Coordination & Communication- Serve as primary point of contact for borrowers, brokers, attorneys, title/escrow officers, lenders, underwriters, and internal credit personnel.
- Provide clear guidance to all parties regarding requirements, timelines, additional documentation, and any issues impacting closing.
- Coordinate with internal teams-Underwriting, Credit, Servicing, and Post-Closing-to ensure accurate handoff and successful funding.
Pipeline & Workflow Management- Independently manage a high-volume pipeline of SBA loan closings with varied complexity.
- Identify bottlenecks, escalate risks, and proactively drive files toward completion.
- Assist with departmental workflow improvements and process refinements.
- Track deadlines to ensure loans close within approval and eligibility timeframes.
Quality Assurance & Leadership - Serve as a subject-matter expert for SBA closing, mentoring and assisting other closing officers.
- Review junior staff files for accuracy and compliance, offering coaching and feedback. Assist with internal audits, SBA reviews, and quality-control initiatives.
- Maintain up-to-date knowledge of SBA SOP changes and disseminate updates as needed.
Required Qualifications:- 10+ years of SBA Closing experience (7(a) required; 504 preferred).
- Advanced knowledge of SBA SOPs, 7(a) and 504 program rules, and closing procedures.
- Strong understanding of business financials, collateral documentation, title/escrow procedures, and legal documentation.
- High attention to detail with strong organizational and deadline-management skills.
- Excellent written and verbal communication skills.
- Ability to manage multiple closings simultaneously with minimal supervision.
Compensation: - Base Salary: $130,000-$140,000/year (based on experience and qualifications)
- Plus Bonus Incentive
- Full-time position
Physical Requirements: - Must be able to pass post offer drug test and background check
Benefits Velocity Vehicle Group Offers: - Fantastic Culture
- 401k + match
- Health, Dental & Vision Insurance + HSA & FSA
- Employer paid Life Insurance
- Paid Vacation Days
- Sick Leave
- Company perks such as employee discounts, company events and training programs
- Excellent Training and Career Advancement Opportunities
