As Loan Closer/Transaction Coordinator, you’ll be responsible for managing documentation for all loan and real estate transactions including reviewing, organizing, and submitting all incoming documentation from customers based on company, lender, and loan program policies and procedures, assisting customers with the filling out of all necessary documents, and managing the entire documentation process for the closing and funding of our transactions.
Title: Loan Closer/Transaction Coordinator – Los Angeles, CA
Reports To: CEO
Who We Are: PetroCal Associates is a boutique real estate financing and brokerage firm serving entrepreneurs seeking to launch, grow, and sell carwash, gas station, and c-store businesses. As commercial mortgage brokers, we arrange loans exceeding $1 million through our trusted national network of lenders to help you through the process of funding, acquiring, building, renovating, or refinancing. As real estate brokers and M&A advisors, we help you acquire, secure, lease, or sell the perfect site or portfolio. We are the trusted partner every operator needs by their side.
PetroCal Associates is based in Los Angeles, California. Every day we come to work excited! We help small business owners accomplish their dreams and goals and there’s nothing more satisfying than that. 60% of our customers are repeat business because we take great care of our clients. We’re a small team looking for resourceful doers with a ‘find a way or make a way’ attitude.
Culture: Our culture is laid-back serious. What does that mean? Unless we’re meeting a client we’re in flip flops and shorts, but every day is spent working on multi-million-dollar transactions. Our clients depend on our ability to execute for them and we do not let them down. We believe family is everything and no one misses a soccer game around here.
To achieve our mission, we look for high caliber people who share and embrace the following core characteristics:
Grit: Passionate marathoners who finish what they start and love tackling problems of all sizes. No job is too small or not in our job descriptions. We take critical constructive feedback with a smile on our face and push through to get the job done.
Rigor: Analytical, multi-tasking and exhaustively detail-oriented. We comb through data, integrate information from multiple (and often unorganized) sources quickly, and figure out what questions to ask to complete the missing pieces so we can tell our clients’ complete story thoroughly and quickly.
Collaboration: We are non-ego doers, we challenge each other and work together to find the best solutions, every day, day in and day out.
Accountability: We trust each other to get the job done. We don’t let attitude get in the way and we take extreme ownership to see it through.
Resourceful: We’re quick and clever as we find and implement new and innovative approaches to the traditional way of handling or thinking about a problem. We create processes and come up with ideas and solutions to better reach our goals.
Honesty: We’re transparent and honest because that’s the right way to treat other people. We handle confidential information and are discrete. Integrity is the basis of trust, and trust is everything when you’ve got people’s future in your hands.
Position Description: As Loan Closer/Transaction Coordinator, you’ll be responsible for managing documentation for all loan and real estate transactions including reviewing, organizing, and submitting all incoming documentation from customers based on company, lender, and loan program policies and procedures, assisting customers with the filling out of all necessary documents, and managing the entire documentation process for the closing and funding of our transactions. Loan sizes will typically range from $1MM to $30MM and be secured by various property types including retail. On loan transactions, the Loan Closer/Transaction Coordinator will work closely with the CEO & COO/CMO (Partners), and the Senior Underwriter to ensure all documents needed for external bank submission, approval, closing and funding the loan have been received, organized, reviewed and updated as needed according to company, lender, and loan program requirements. On real estate transactions, the Loan Closer/Transaction Coordinator will be charged with calendaring dates, maintaining a file of all deliverables, setting up due diligence deal rooms, and other real estate related items.
You’ll support loan, real estate, and revenue growth through customer service-oriented communication with customers, lenders, and other transaction parties to ensure timely delivery of deliverables to all interested parties including the Partners, customers, and our network of lenders and vendors.
This is a W2 full-time position with standard hours of 8:30 am – 5:30 pm at the Los Angeles office that includes health insurance, PTO, holidays, sick days, 401k, and 401k employer matching. Position may require travel. Mileage will be reimbursed. Reliable transportation is required.
Position Responsibilities – Financing
● Work with team members and borrowers to ensure all loan application and processing documents are accurate, organized, and completed correctly prior to submission to external lender and external underwriting.
● Identify additional documentation needed based on individual loan information.
● Review various documentation with the ability to ensure accurate completion or identify any inconsistencies.
● Review and have familiarity with title insurance commitments and policies, commercial loan documentation, legal entity formation and governing documents, other insurance documents, and other related documents within a typical loan file.
● Manage the Equity Injection Verification process according to internal policies, bank policies, SBA SOP, and/or USDA guidelines. This is a tedious process that we strive to make as easy as possible for the borrowers and includes collection and organization of receipts, proof of payment and bank statement history.
● Track post-close items and ensure all items are completed.
Position Responsibilities – Real Estate
● Work with team members and borrowers to ensure all real estate transaction files and documents are accurate and organized.
● Identify additional documentation needed based on individual transaction information.
● Calendar and manage critical dates and deadlines according to Purchase & Sale Agreements or other similar documents.
● Manage due diligence folder set up, organization, and maintenance.
● Review various real estate documentation with the ability to ensure accurate completion or identify any inconsistencies.
Position Responsibilities – Overall
● Work with third-party vendors including loan officer, escrow, SBA, and CDC to ensure timely delivery of accurate documents critical to transaction submission, processing, and/or closing.
● Monitor internal deal pipeline to ensure all documentation related items are up to date.
● Actively communicate upcoming completion dates and milestones to ensure deadlines will be met. Identify and communicate any potential delays which could impact deadline completion.
● Provide superior customer service and uphold customer satisfaction to both internal and external customers by answering questions and requests and providing information in a timely, polite, and understanding manner.
● Demonstrate a proactive spirit while working with several internal and external parties to ensure receipt of all closing documents prior to closing, reviewing/finalizing closing statements, and scheduling closing dates.
● Effectively partner with team members to improve efficiencies of operation, minimize risk, improve processes, and expand sales opportunities.
● Maintain existing and establish new processes and platforms that allow the company to improve operations.
● Track and help drive completion of key deliverables and follow up on outstanding items.
● Track and input deal activity hours in Salesforce.
● Participate in company meetings as required.
● Comply with all company training.
● May perform any and all other duties as requested by management.
● 4+ years of commercial loan processing and closing experience required.
o 1+ years of SBA loan processing and/or closing preferred.
o Escrow Company and/or Paralegal experience - a plus.
o Experience working in a financial institution and/or banking environment required.
● Exceptional written, verbal, and interpersonal communication skills and comfort on the phone.
● Skilled at effectively interacting, building rapport and maintaining ongoing relationships with clients and colleagues in a professional, service-oriented manner.
● Outstandingly organized individual who is a self-starter, positive, outgoing, proactive, flexible, extremely detail-oriented, and driven to succeed.
● Strong project and time management skills with proven ability to manage multiple projects at one time and prioritize tasks accordingly while being resourceful in finding the answers needed to get the job done and maintaining a commitment to deadlines; self-motivation and self-management are key.
● Proficient/advanced knowledge of Office Suite especially Word and Excel; intermediate in Adobe Acrobat XI Pro or similar software. Must be able to type an average of 45-50 WPM.
● Experienced across multiple lines of business, including but not limited to, service, retail, auto-related, and commercial real estate.
● Extensive knowledge of commercial credit and lending concepts, practices, and regulations.
● Ability to research industry sources needed for credit evaluations.
● Knowledge and understanding of Small Business Administration (SBA) Standard Operating Procedures (SOP) and Policies preferred.
● Demonstrated expertise in core business of C&I and CRE in Commercial Banking experience, is preferred.
● Experience at a law firm and/or title company is a plus.
● Knowledge and experience with HubSpot are a plus. Must be a quick study and be both willing and eager to learn.
● 2 weeks paid vacation each year
● Sick days
● Paid Holidays (Federal + Extra, In total about 12/year)
● Blue Shield of California Health Care (all plan options + Dental + Vision)
● 401k with employer matching
● Discretionary bi-annual bonus
Applicants for employment in the U.S. must possess work authorization which does not require sponsorship by the employer for a visa.
No Search or relocation fee provided. Strongly prefer candidates in market.
Equal Employment Opportunity: PetroCal Associates strongly supports equal employment opportunity for all applicants regardless of race, color, religion, sex, gender identity, pregnancy, national origin, ancestry, citizenship, age, marital status, physical disability, mental disability, medical condition, sexual orientation, genetic information, or any other characteristic protected by state or federal law.
Hiring Practices: The preceding job description has been designed to indicate the general nature and level of work performed by employees within this classification. It is not designed to contain or be interpreted as a comprehensive inventory of all duties, responsibilities, and qualifications required of employees assigned to this job. PetroCal Associates recruitment policies are designed to place the most highly qualified persons available in a timely and efficient manner. PetroCal Associates may pursue all avenues available, including promotion from within, employee referrals, outside advertising, employment agencies, Internet recruiting, job fairs, college recruiting and search firms.
Applicants should apply online at the job posting on LinkedIn.
$85,000 - $105,000 per year