USDA Underwriter

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:   

We are looking for an USDA Underwriter to join our dynamic and growing team. You will be reviewing USDA B&I, CF, REAP, and WWD applications for our USDA Rural Development loan products. Your responsibilities include reviewing applications against an approval checklist by product type, completing initial eligibility analysis, financial statement spreading, detailed analysis of repayment capacity and financial metrics, and preparing the Credit Memo for final credit approval. You will also be responsible for ensuring the closing team has the details they need to effectively close the loan and confirm they have gathered all required stipulations.   

  

Essential Duties and Responsibilities:   

  

• Reviews each assigned USDA application following completion of the pre-screen process

• Apply knowledge of 7 CFR 5001 regulations to evaluate loan applications for accuracy, completeness, and eligibility

• Periodically engages in discussions of prospective loan requests with BDA/BDOs, prospective borrowers, closing partners, and Credit Leadership

• Performs detailed analysis of financial statement spreads and repayment capacity for borrowers, affiliate business entities, and corporate and personal guarantors

• Reviews business and personal credit reports, as well as industry and market data

• Identifies and properly mitigates all risks associated with each assigned USDA application

• Prepares an appropriately detailed Credit Memorandum outlining terms and conditions for loan closing, summarizing financial and business analysis, and addressing mitigation of all identified risks

• Demonstrates excellent working knowledge of all systems utilized by the department

  

Qualifications for Success:   

  

• Bachelor's degree in accounting, finance, or related field

• Three (3) or more years of USDA Rural Development experience

• Three (3) or more years in commercial loan underwriting, financial analysis, or portfolio management experience

• Ability to prioritize and operate with a sense of urgency

• Proficient in financial spreading

• Strong verbal and written communication skills

• Organized, detail-oriented, and able to multi-task

• Strong analytical and problem-solving skills

• Ability to work collaboratively with multiple stakeholders

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.