Career Story: Commercial Lending Officer For A Bank

Commercial Lending Officer For A Bank

Job Title: Real Estate Lender

Type of Company: I work for a bank in upstate New York.

Education: BS, Business, University of Connecticut

Previous Experience: I worked as an equipment leasing salesperson.

Job Tasks: I am responsible for lending money to individuals and partnerships for the purpose of investing in real estate. The kinds of purchases we finance are retail shopping centers, apartment complexes, office buildings and warehouse buildings. To determine whether a loan should be made I look at cash flow on the property and track record and experience of the investors.

A typical day entails speaking to prospective customers on the merits of their building. Before getting into a deep discussion I prefer to see the site to understand how its location is likely to suit it intended occupants. For example, people living in an apartment building want to be relatively close to a grocery store. Office workers like to be near eateries for lunch.

After seeing the property and talking to the investor, I have to write a report laying out all the salient details and present it to a loan committee that decides if we will make the loan or not. After the loan is approved by the committee I need to have the building appraised for it's value and check that it is environmentally sound. I hire a lawyer who writes the documents and offers advice and the loan is closed when the money is given to the seller of the property.

It is important to be active in the community; it helps us develop new business and also helps to advertise for the bank.

Best and Worst Parts of the Job: The best part of the job is entertaining clients. I get to go to the nicest restaurants in town and go to any type of show or ball game.

The worst part of the job are all the charity dinners I have to attend, since they take me away from my family at night.

Job Tips:
1. Get active in your community at an early age. It will help you to develop a network of contacts.

2. You need to be outgoing and respect the opinion of everyone.

3. Take extra accounting courses in school, especially tax accounting, to better understand the treatment of depreciation on taxes.

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