Unity Bancorp, Inc

SBA Business Development Executive - NJ, NY, PA

Unity Bancorp, Inc • $80K — $95K *
Clinton, NJ 08809In-Person
Finance & Insurance
Less than 5 years of experience
Today
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Job Overview by Ladders

Qualifications

  • Bachelor's degree in business or related field.
  • Minimum 3 years in commercial lending experience.
  • At least 2 years of SBA lending experience.
  • Formal bank credit training preferred.
  • Knowledge of SBA Standard Operating Procedures (SOP) is beneficial.

Responsibilities

  • Solicit SBA 7(a) and SBA 504 loan requests from clients and intermediaries.
  • Analyze financial data to assess creditworthiness of loan applicants.
  • Negotiate terms and conditions for credit extension.
  • Package and submit loan documentation for processing.
  • Prepare initial loan proposals for submission to credit department.
  • Monitor loan portfolio activity and comply with reporting requirements.
  • Engage in community networking to create business opportunities.

Benefits

  • Opportunities for professional development and training.
  • Participation in community events and networking activities.
  • Support from internal departments to ensure timely loan processes.
Full Job Description
Position Summary

The SBA Business Development Executive develops contacts and generates leads to sell SBA loan products to potential and existing customers. The incumbent screens and evaluates new loan requests, packages the required loan documentation, and completes the initial draft of loan proposals for submission to the credit department. The SBA business development executive develops centers of influence and promotes the Bank's presence in the community.

Essential Functions
  • Solicit new SBA 7(a),, and SBA 504 loan requests from existing and prospective customers and intermediaries such as attorneys, accountants, loan brokers and other professionals.
  • Interview loan applicants; collect and analyze financial data to determine the general creditworthiness of the applicant.
  • Establish SBA eligibility
  • Establish and negotiate the terms and conditions under which credit will be extended.
  • Evaluate and structure loan requests.
  • Package and submit required loan documentation.
  • Prepare and submit draft loan proposals.
  • Assist the credit and closing departments in obtaining required documentation to facilitate timely closings.
  • Cross-sell other Unity Bank products and business partner services.
  • Monitor and report assigned loan portfolio activity to management as required by Unity Bank policies and procedures.
  • Complete other reporting requirements as directed by management.
  • Maintain active membership in outside organizations (i.e. Rotary, Lions, Chamber of Commerce, etc.), creating centers of influence that positively promote Unity's presence in the communities it serves.
  • Assist other departments (ex. collections, retail) of Unity Bank as requested by management.
  • Travel locally within NJ and PA as necessary to attend business meetings; social and networking events; and bank-sponsored events within assigned region(s).

Education and Experience
  • Bachelor's degree in business or related field.
  • Minimum 3 years of commercial lending experience.
  • Minimum 2 year of SBA lending experience.
  • Formal bank credit training preferred.
  • NAGGL and/or NADCO SBA training preferred.
  • Working knowledge of SBA SOP

Knowledge, Skills, and Abilities
  • Knowledge of principles and processes to ascertain and assess customer needs and quality standards of customer service.
  • Knowledge of economic and accounting principles and practices, the financial markets, banking, and the analysis and reporting of financial data.
  • Excellent computer skills in a Microsoft Windows environment including proficiency in Word and Excel.
  • Ability to calculate figures and amounts such as discounts, interest, commissions, proportions, percentages, and area.
  • Ability to apply critical thinking to identify the strengths and weaknesses of alternative solutions or approaches to problems.
  • Ability to read, analyze, and interpret legal documents, governmental regulations, and professional publications.
  • Ability to effectively present information and respond to inquiries from senior management, attorneys, vendors, government agents, and the general public; ability to write reports and business correspondence.
  • Ability to speak and write clearly to effectively convey information so that others understand.
  • Ability to work independently with little supervision.

Compliance
  • It is the responsibility of each bank staff member and of management to adhere to policies and procedures designed to implement compliance with the laws and regulations to which the bank is subject. Each bank staff and management member shall be accountable for understanding how compliance with laws and regulations affects the performance of their day-to-day duties, for completing compliance training as assigned and for carrying out those duties in a manner to achieve compliance with those laws and regulations.

About Unity Bancorp, Inc

Unity Bancorp, Inc. is a bank holding company that operates Unity Bank, a community-oriented commercial bank that serves customers in New Jersey and Pennsylvania. The bank was founded in 1991 and has grown to become one of the leading community banks in the region. Unity Bank offers a wide range of financial products and services, including checking and savings accounts, loans, mortgages, and wealth management services. The bank is committed to providing its customers with personalized service and innovative solutions to meet their financial needs. Unity Bancorp is also committed to being a responsible corporate citizen, and is involved in a number of community outreach and charitable initiatives.
Learn more about Unity Bancorp, Inc
Size
208 employees
Market Cap
$284.8 million
Industry
Finance & Insurance
Net Income
$22.4 million
5 Year Trend
+12.5%
NASDAQ
UNTY
* Ladders Estimates

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