Career Story: Lending Officer For A Commercial Bank

Lending Officer For A Commercial Bank

Job Title: Lead Commercial Lending Representative

Type of Company: A bank which specializes in commercial mortgage lending.

Education: The Computer Processing Institute

Previous Experience: I was an executive secretary for a company that provided commercial credit.

Job Tasks: I work with the lenders who make loans for commercial buildings such as offices, retail centers and residential subdivisions.

After a loan has been approved by our loan committee & board of directors, I help to process the preliminary work: a Flood Determination, for example. The bank's attorney will then complete draft documents that have to be reviewed before the closing is set. If the loan is a construction loan, I participate in the reviewing of budgets, insurance, and taxes. For the closing, I wire funds to the attorney or customer and collect fees. After the loan has closed, I fill out the forms that set the loan up on the bank's commercial loan system. A file for each loan is set up with documents, letter, memos etc. and the attorney's office will send a closing binder with recorded documents for the file.

For construction loans, a budget needs to be set up and each month the borrower will send in a requisition for funds for fees due to the contractors or vendors constructing the building(s).

Customer service for each borrower is very important in my position. Annual letters requesting financial statements that are required from the borrowers are sent, as well as UCC financial statements. Reports are done weekly, monthly, quarterly & annually on loans that are pending and closed.

Best and Worst Parts of the Job: One of the best parts of my job is working with the borrowers on a personal level. Providing customer service to help them in their business is rewarding.

The worst part is all the reports that have to be done during the course of the year.

Job Tips:
1. A knowledge of Excel is very important in doing spreadsheets for construction budgets, etc.

2. Getting along with everyone in the office, both clients and attorneys, is key.

3. Working for a well-established organization with a large portfolio of loans is likely to be more lucrative than working for a start-up.

Popular Schools offering Banking Programs

quickinfoThese schools offer particularly quick info upon request, and we have written detailed profiles for each (click school names to see the profiles).

Request info from multiple schools, by clicking the Request Info links.

Matching School Ads

Why earn your degree at Grand Canyon University? GCU is a regionally accredited university offering graduate and undergraduate degrees in Business, Nursing, Psychology, Education & more. Apply today!

  • Programs: M.B.A.: Finance, B.S. in Finance and Economics, B.S. in Accounting, more...
  • Degrees: Master, Bachelor

You've found Ashford University, where school comes to you. Earn your bachelor's or master's degree online.

  • Programs: MBA - Finance, BA/Finance, BA/Sports and Recreation Management - Finance, more...
  • Degrees: Master, Bachelor

Study online with University of Maryland at College Park.

  • Programs: MBA - Finance, MBA - Accounting
  • Degrees: Master

Colorado State University-Global Campus

Colorado State University-Global Campus (CSU-Global) recently received state approval to enroll students with little to no prior college experience. To help ensure student success, the university has created a program especially for these students who plan on starting their college experience for the first time with us.

  • Programs: Master - Finance, Master - Professional Accounting, BS - Accounting
  • Degrees: Master, Bachelor

Liberty University provides a world-class education with a solid Christian foundation, equipping men and women with the values, knowledge, and skills essential for success in every aspect of life.

  • Programs: BS in Business - Finance , MS in Accounting, MBA - Accounting, more...
  • Degrees: Bachelor, Master, Doctorate

Founded in 1872, Maryville University is a four-year, private university located in west St. Louis County.

  • Programs: Online Master of Business Administration Financial Services Concentration, Online Master of Business Administration Accounting Concentration
  • Degrees: Master

Welcome to Argosy University

Argosy University offers doctoral, master's, and bachelor's degree programs to students through its eight colleges:  College of Behavioral Sciences, Graduate School of Business and Management, College of Education,  College of Health Sciences, College of Arts and Sciences, College of Creative Arts and Design, College of Clinical Psychology and Western State College of Law at Argosy University as well as certificate programs in many areas.

  • Programs: Business Administration - Finance (BS) (Online), Business Administration - Accounting (BS) (Online)
  • Degrees: Bachelor

Lower Tuition Cost Than Many Other Universities.  Classes Start Soon.

  • Programs: Bachelor of Science in Accounting, Master of Science in Accounting, Master of Business Administration in Accounting
  • Degrees: Bachelor, Master

You’re serious about success. With your busy schedule and the desire to move your career forward, you can earn an accredited associate, bachelors or master’s degree at a pace that works for you anywhere, anytime, 24/7.

At AIU, the Serious U, you can get started to get ahead.

  • Programs: MBA - Finance, Bachelor's (BBA) - Finance, Bachelor of Accounting , more...
  • Degrees: Master, Bachelor

Johns Hopkins University Carey Business School has brought the philosophy of business with humanity in mind to a part time format.

  • Programs: Flexible MBA - Financial Business, Master of Science in Finance
  • Degrees: Master
Matching School Ads

Additional Career Stories for Loan Officers

The inside stories from people actually working in the field.
Click a story title to show the story, and click the title again to hide it.

All Types

You are visiting:

Find a school near you

What are Career Stories?

Career Stories are concise, real-world career overviews written by people relating their personal career experiences and wisdom. They provide invaluable insights and mentoring advice to students and career changers.

Most stories include:

  • a typical day or project
  • tips and advice
  • best and worst parts
  • educational background
  • previous experience

Browse hundreds of Career Stories

More Details On This Career

Please also see our detailed information about Loan Officers, including:

Back to Top
SPEAK TO AN ADVISOR 1.844.285.6104