Accepting Applications - BLP Employment Opportunity for Loan Closer

The Loan Closer works in the finance division of RCEDC, which operates under the trade name Business Lending Partners (BLP), and will focus on loan closings and ensuring BLP is operating all loan programs within the required program regulations. In addition, the position provides assistance to the Business Finance Manager on special projects, as needed, and reports regularly on all tasks.

BLP loan programs and therefore its loan portfolio includes a variety of loan funds, including:

  • US Small Business Administration 504 (SBA 504);
  • County Economic Development Administration Revolving Loan Fund (EDA RLF);
  • County Community Development Block Grant Revolving Loan Fund (CDBG RLF);
  • City of Racine Revolving Loan Fund (City RLF);
  • Racine Development Group Revolving Loan Fund (RDG RLF);
  • The Village of Union Grove CDBG Revolving Loan Fund (UG RLF);
  • Burlington CDBG Revolving Loan Fund (Burl RLF);
  • Burlington Tax Increment District Revolving Loan Fund (Burl TID RLF);
  • Brownfields Cleanup Revolving Loan Fund (BC RLF);
  • Racine County Midwest Revolving Loan Fund (Midwest RLF);
  • Racine County Jobs for Racine County Revolving Loan Fund (JFRC RLF);
  • Racine County RCEDC Revolving Loan Fund (RCEDC RLF);
  • Capital Catalyst/ SEED Capital Revolving Loan fund (SEED RLF);
  • Racine County Matching Grant Program (MGP); and
  • New loan funds as they may be established.

Submit cover letter, resume and salary requirements


1. Conduct Loan Closings:

  • Monitor approved loan applications to facilitate the orderly and efficient closing of loans, disbursement of loan funds (including SBA debenture sales), and the filing of all necessary collateral documents.
  • Coordinate and obtain all required documentation from borrower and partnering lender for loan closings and for SBA 504 loan sales.
  • Coordinate the drafting of all closing documents by RCEDC legal counsel before the closing date and ensure the drafts are distributed to the appropriate parties.
  • Coordinate, monitor, and approve all loan disbursements and project cost documentation.
  • Coordinate loan closings and debenture sales with RCEDC legal counsel. Assist RCEDC legal counsel in the packaging of SBA 504 loans for debenture sale, as well as addressing any necessary changes with the appropriate parties.
  • Create and maintain all loan collateral files.
  • Coordinate all post-closing activities as defined by the post-closing checklist.
  • Maximize use of Salesforce and Ventures software by ensuring all closing information is entered into the system and appropriate closing reports are generated.
  • Monitor all expense related to loan closings and invoice customers as appropriate.

2. Monitor Troubled Loans:

  • Review results of quarterly public records checks and make recommendations on how to address findings and any additional monitoring of these loans if necessary.
  • Present the troubled loan list to the RCEDC Loan Committee and RCEDC Executive Committee as requested.
  • Take the lead in handling loan work out situations, including loan liquidations, with the assistance of the Business Finance Manager.
  • Complete Collateral File Reviews;
  • Draft the loan work out/liquidation plan;
  • Work with RCEDC legal counsel;
  • Coordinate all necessary approvals to follow the liquidation plan;
  • Monitor all income and expenses related to the liquidation; and
  • Once complete draft and coordinate the final loan write off.

3. Monitor BLP Reports:

Ensure all required reports for all loan programs are completed and submitted to the appropriate reporting authority by their deadlines, including but not limited to:

  • EDA and CDBG semi-annual reports;
  • EDA semi-annual plan certifications;
  • EDA sequestered funds reports;
  • SBA quarterly reports on any delinquent loans;
  • SBA annual report;
  • Municipalities annual reports;
  • Midwest RLF and JFRC RLF quarterly reports;
  • SEED RLF quarterly and annual reports;
  • MGP quarterly reports;
  • Annual audit letters to all RLF loan recipients- including collateral review;
  • 1098 information to CPA’s and disbursement of SBA CSA 1098’s; and
  • Allowance for Doubtful Accounts- including collateral review.

4. Monitor compliance of Developer’s Agreements and RCEDC RLF incentive loans, including milestones for forgivable loans.

5. Prepare loan portfolio for all audits, including but not limited to those conducted by the United States Small Business Administration (including the annual independent file review), the Economic Development Administration, the Wisconsin Department of Administration, the Wisconsin Economic Development Corporation, Racine County, and RCEDC’s accounting firm.

6. Maintain and update all loan program Policy Manuals as required or requested by the Business Finance Manager, including the internal policies maintained in the Business Lending Partners division.

7. Other tasks related to servicing the loan portfolio include:

  • Maintain the UCC financing statements.
  • Coordinate with RCEDC’s legal counsel the necessary documentation for any change to the loan covenants, servicing actions, changes in loan terms or loan payoffs.
  • Complete collateral analyses as needed on troubled loans and loans with servicing action requests.

8. As assigned by the Business Finance Manager assist with loan applications, eligibility reviews and pre-processing tasks:

  • Review and assist with the packaging and submission to SBA of loan applications, franchise agreements, environmental reports, and appraisals;
  • Assist in researching loan eligibility questions; and
  • Assist with loan ‘pre-processing’ activities. These activities may include tracking application documentation received, ordering credit reports, spreading financial statements, running public records checks, etc.

9. Promote the RCEDC and BLP programs by participating in outreach activities including but not limited to the activities detailed in the annual Work Plans.

10. Maintain ‘Smart Book’ and checklists for activities related to this job description such as loan closings, reporting, troubled loans, etc. This is intended to be a staff user’s guide with up-to-date operating procedures.


11. Participate in other project assignments as directed by the RCEDC Executive Director or Business Lending Partners Business Finance Manager.

12. Attend Board, staff, and community meetings as required.

Submit cover letter, resume and salary requirements



  • Bachelor’s Degree in Banking, Finance or a related field


  • Valid driver’s license with verification of appropriate insurance coverage


  • Minimum of one-year related experience such as in banking, public sector financing organization, business credit organization, etc.;
  • Working knowledge of economic development programs, principles, and practices;
  • Knowledge and understanding of various local, state and federal loan programs available;
  • Ability to perform Statistical analyses;
  • Ability to perform basic mathematical operations and to analyze and interpret business financial statements and related financial and business documents;
  • Knowledge of sources and uses of demographic data and socio-economic data;
  • Ability to maintain a high degree of professionalism, confidentiality, flexibility, and initiative;
  • Proven oral and written communication skills with an emphasis on effective interpersonal skills to work with varying levels of professionals, such as public officials, bankers, State & federal employees, board members, staff, and business owners;
  • Ability to manage multiple projects requiring specific deadlines that may often result in a high-stress environment;
  • Ability to work independently, effectively analyze and problem solve issues, and exercise good judgment in making a variety of decisions;
  • Proven organizational and time management skills;
  • Ability to work with the business community and the general public; and
  • Knowledge of word processing, data processing, and spreadsheet software applications.


  • Operate a variety of office machines and equipment to include a computer, scanner, fax machine, telephone, copy machine, and calculator.


  • Typical inside, air-conditioned office environment.
  • Often, a variety of other settings such as manufacturing facilities, construction sites, older retail buildings and/or other environments requiring the ability to be adaptive to changes in terrain, limited accessibility, etc., or tolerate unusual or unpleasant odors

The work environment characteristics described here are representative of those an employee encounters while performing the essential functions of the job. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.

Physical Demands:

  • Some standing, walking, sitting, stooping;
  • Some kneeling, crouching, balancing and bending/twisting;
  • Some lifting, carrying, pushing/pulling to a maximum of 25 pounds;
  • Sitting for long periods of time;
  • Fine motor skills;
  • Tolerance of noise and odors from various office machines, or during site visits; and
  • Driving to various locations as required by meetings, appointments, etc.

Submit cover letter, resume and salary requirements

SBA 504

December 2018

25-Year Fixed Rate:


20-Year Fixed Rate:


10-Year Fixed Rate: