SBA Liquidation Specialist

About iBusiness Funding

iBusiness Funding is a leader in providing innovative Software as a Service (SaaS) solutions for banks and lenders, with a specialization in SBA lending. We build scalable lending platforms that streamline the business lending process, allowing lenders to efficiently deliver capital to small and medium-sized businesses.

To date, we’ve processed over $7 billion in SBA loans and handle more than 1,000 business loan applications daily. Our team is driven by our core values of innovation, integrity, enjoyment, and family.

As a top five SBA 7(a) preferred lender, our parent company offers SBA express and small loan capabilities. Join us and be part of a team that’s transforming the finance industry and empowering businesses to thrive!

Position Description

The SBA Liquidation Specialist is responsible for servicing all stages of problem loans in the liquidation and Real Estate Owned portfolio primarily related to SBA Lending. This position requires knowledge of the Standard Operating Procedures for SBA 7(a) lending (SBA SOP) and experience associated with SBA loans in workout/troubled loans scenarios requiring intense resolution. This role will oversee the development of liquidation plans, litigation plans, settlements, and the overall liquidation of all collateral. Prior SBA servicing/liquidation experience is required. The SBA Liquidation Specialist’s responsibilities include:

Major Areas of Responsibility

• Perform wide range of responsibilities for troubled loans in various work out stages (post default);
• Oversees the development of workout plans with borrowers to mitigate credit loss;
• Assist with the preparation of liquidation packages such as Universal Purchase Package (UPP) and Charge-off Package (Wrap-up);
• Work with debtors to determine appropriate workout options;
• Tracks loans in repurchased status for confirmation of charge-offs;
• Ability to think critically, solve problems, and maximize recoveries while maintaining a comprehensive understanding of bank compliance and legal standards;
• Help with Disposing/liquidating collateral and bank owned real estate;
• Work with the legal team to properly prepare litigation plan and file appropriate legal actions as needed;
• Prepare status and quarterly reports for loans in credit resolution as needed;
• Responsible for monitoring and updating SBA monthly/quarterly reports for loans in repurchase status;
• Administer loans in charge-off and bankruptcy status;
• Prepare and manage bankruptcy filings with legal counsel as needed;
• Able to perform tasks of loans in all loan workout, liquidation, and active foreclosure stages;
• Responsible for staying apprised of changes to the SBA SOP to ensure compliance with the most current requirements;
• Keep up to date on Lender policies, SBA policies, and laws and regulations that govern commercial lending;
• Communicate effectively with coworkers, other employees, vendors, legal counsel, and SBA personnel;
• Must be organized and detail oriented;
• Other job duties as assigned to assure team effectiveness

Required Knowledge, Skills, and Abilities

• Bachelor's degree (preferred)
• Experienced in loan workouts and credit resolution 3 – 5 years (required)
• Commercial lending experience (required)
• SBA liquidation experience (required)
• Advanced knowledge of bank systems, compliance, and regulatory standards
• Excellent analytical skills
• Excellent communication skills
• Excellent ability to coordinate across multiple teams and departments
• Strong organizational skills
• Ability to learn quickly and adapt to new SBA and process changes
• Ability to stay on top of deadlines

Conclusion

This job description is intended to convey information essential to understanding the scope of the job and the general nature and level of work performed by job holders within this job. This job description is not intended to be an exhaustive list of qualifications, skills, efforts, duties, responsibilities or working conditions associated with the position.

The company is an equal opportunity employer and will consider all applications without regard to race, sex, age, color, religion, national origin, veteran status, disability, genetic information or any other characteristic protected by law.