Commercial Loan Officer Job Description [Updated for 2025]

In the modern business world, the demand for Commercial Loan Officers has never been higher.

As the financial landscape evolves, the call for proficient individuals who can navigate, cultivate, and secure our commercial lending processes is mounting.

But let’s delve deeper: What’s truly expected from a Commercial Loan Officer?

Whether you are:

• A job seeker trying to understand the core of this role,
• A hiring manager shaping the profile of the perfect candidate,
• Or simply curious about the nuances of commercial lending,

You’re in the right place.

Today, we present a customizable Commercial Loan Officer job description template, crafted for effortless posting on job boards or career sites.

Let’s dive right in.

Commercial Loan Officer Duties and Responsibilities

Commercial Loan Officers are responsible for assisting businesses in obtaining loans, helping in the evaluation of the financial condition of their company and advising on the best type of loan and terms.

They work closely with clients to gather and analyze financial information and present loan proposals to financial institutions.

Their main duties and responsibilities include:

• Evaluating the financial status and creditworthiness of business clients
• Meeting with potential clients to obtain information about their business and loan needs
• Advising clients on loan options and the application process
• Collecting and analyzing financial and related data to determine the general creditworthiness of the prospect and the merits of the specific loan request
• Submitting loan applications and documentation to credit analysts for verification and recommendation
• Presenting loan proposals to financial institution decision-makers
• Monitoring the loan from application to closing and resolve any issues that arise
• Maintaining accurate and up-to-date customer loan files and records
• Staying informed about commercial lending laws and regulations
• Building and maintaining relationships with business clients to ensure future business

 

Commercial Loan Officer Job Description Template

Job Brief

We are seeking a detail-oriented and experienced Commercial Loan Officer to assist in our financial planning efforts.

The Commercial Loan Officer will be responsible for meeting with business clients, evaluating, authorizing and recommending approval of commercial loans.

Our ideal candidate has a strong understanding of business financials, excellent interpersonal skills, and extensive experience in commercial lending.

Ultimately, the Commercial Loan Officer will facilitate business growth and development through the provision of appropriate loan facilities while ensuring the organization’s profitability.

 

Responsibilities

• Evaluate credit worthiness by processing loan applications and documentation within specified limits
• Interview applicants to determine financial eligibility and feasibility of granting loans
• Determine all applicable ratios and metrics and set up debt payment plans
• Communicate with clients either to request or to provide information
• Justify decisions (approvals/rejections) and report on them
• Complete loan contracts and counsel clients on policies and restrictions
• Update job knowledge on types of loans and other financial services
• Maintain and update account records
• Assess customer needs, explore all options and introduce different types of loans
• Develop referral networks, suggest alternate channels and cross-sell products and services to accomplish quotas

 

Qualifications

• Proven work experience as a Loan Officer
• Solid understanding of direct/indirect lending products and practices
• Excellent communication and interpersonal skills
• Customer satisfaction orientation and sales competencies
• Ability to work in a goal oriented environment
• BS degree in finance, economics or a related field

 

Benefits

• 401(k)
• Health insurance
• Dental insurance
• Retirement plan
• Paid time off
• Professional development opportunities

 

Additional Information

• Job Title: Commercial Loan Officer
• Work Environment: Office setting with potential for remote work. Some travel may be required for client meetings.
• Reporting Structure: Reports to the Loan Department Manager or Director of Lending.
• Salary: Salary is based upon candidate experience and qualifications, as well as market and business considerations.
• Pay Range: $70,000 minimum to $120,000 maximum
• Location: [City, State] (specify the location or indicate if remote)
• Employment Type: Full-time
• Equal Opportunity Statement: We are an equal opportunity employer and value diversity at our company. We do not discriminate on the basis of race, religion, color, national origin, gender, sexual orientation, age, marital status, veteran status, or disability status.
• Application Instructions: Please submit your resume and a cover letter outlining your qualifications and experience to [email address or application portal].

 

What Does a Commercial Loan Officer Do?

Commercial Loan Officers are financial professionals who work for banks, credit unions, and other financial institutions.

Their primary role is to assist businesses in obtaining loans and other forms of credit.

They typically review loan applications, analyze the financial health of the business, and determine the risk level of lending money to the business.

This may involve examining the company’s balance sheets, income statements, and cash flow statements to determine the company’s creditworthiness.

Commercial Loan Officers may also be responsible for recommending different loan options and explaining the terms and conditions of loans to their clients.

This often requires a deep understanding of various loan products and financial legislation.

In addition, they manage relationships with their clients, which includes addressing any issues or concerns and providing updates on loan status.

Their job also entails negotiating loan terms and conditions, and presenting loan agreements for approval by the lending institution.

Post-approval, they continue to monitor the loans they have issued, ensuring that repayments are made on time and taking action in case of defaults.

Overall, a Commercial Loan Officer plays a crucial role in supporting businesses’ financial needs and managing the risk for lending institutions.

 

Commercial Loan Officer Qualifications and Skills

A Commercial Loan Officer should exhibit a wide range of skills and qualifications that are essential for the role, including:

• Financial expertise to analyze and evaluate the financial status, creditworthiness, and business plans of loan applicants.
• Knowledge of various types of loans, credit products, and other financial services to offer the best solutions to clients.
• Strong sales and negotiation skills to promote and sell loan products to potential clients and negotiate loan terms.
• Excellent interpersonal and communication skills to build and maintain professional relationships with clients and to effectively explain complex financial concepts.
• Problem-solving abilities to identify and address loan application problems, provide financial advice, and answer client questions.
• Attention to detail for reviewing loan agreements to ensure that they are accurate and complete.
• Understanding of compliance regulations and laws related to lending processes and practices to ensure adherence.
• Decision-making skills to approve or reject loan applications, considering the potential risks and benefits.

 

Commercial Loan Officer Experience Requirements

Commercial Loan Officer positions generally require a bachelor’s degree in finance, business, or a related field as a minimum educational requirement.

Entry-level Commercial Loan Officer positions may require 1 to 2 years of experience in a banking or financial institution, often gained through internships or part-time roles.

These professionals usually gain on-the-job experience in roles such as Credit Analyst, Loan Processor, or other finance-related roles.

Candidates with more than 3 years of experience often develop their financial analysis skills and knowledge in entry-level Commercial Loan Officer roles or similar positions.

Those with more than 5 years of experience are typically expected to have an understanding of commercial lending policies and procedures, as well as experience in underwriting and evaluating commercial loans.

In addition, they may have some leadership experience and may be prepared for a managerial or team-lead position.

Additionally, many financial institutions prefer Commercial Loan Officers to have Certified Public Accountant (CPA) or Chartered Financial Analyst (CFA) designations.

These certifications demonstrate a higher level of expertise and can provide a competitive edge in the job market.

 

Commercial Loan Officer Education and Training Requirements

Commercial Loan Officers typically require a bachelor’s degree in finance, economics, business, or another related field.

These programs provide a foundation in financial concepts, business strategies, and economic theories that are crucial for this role.

Many loan officers also gain practical experience through internships in banks or financial institutions during their study, which can be beneficial in their job search after graduation.

In addition to formal education, Commercial Loan Officers often need to be licensed, especially if they work for a mortgage company or bank.

This generally involves meeting certain education requirements and passing an exam.

Some Commercial Loan Officers may also pursue a master’s degree in business administration or finance to enhance their career prospects and advance to managerial positions.

Additional certification programs, like the Certified Lender Business Banker (CLBB) certification, can also be beneficial.

These programs help to demonstrate the candidate’s expertise in the field and show their commitment to continuous learning and professional growth.

Understanding of regulatory compliance and lending standards is also essential for a Commercial Loan Officer.

This can be gained through on-the-job training, self-study, or through industry-specific training programs.

 

Commercial Loan Officer Salary Expectations

A Commercial Loan Officer earns an average salary of $79,834 (USD) per year.

The exact earnings may fluctuate based on the individual’s experience, the scale of the company they work for, and the region in which they operate.

 

Commercial Loan Officer Job Description FAQs

What skills does a commercial loan officer need?

A commercial loan officer should have exceptional communication and interpersonal skills to build robust relationships with clients.

They should have strong analytical skills to assess the financial status of businesses, understand market trends, and make informed decisions.

Proficiency in using financial software, understanding loan underwriting, and risk analysis are also essential.

 

Do commercial loan officers need a degree?

Yes, most commercial loan officers need a bachelor’s degree in finance, business, economics, or a related field.

Some positions might require a master’s degree in business administration (MBA).

Additionally, many employers prefer candidates with relevant work experience in banking, sales, or customer service.

 

What should you look for in a commercial loan officer resume?

A commercial loan officer resume should include their educational background, particularly if it is in a relevant field.

It should also detail their experience in the banking or financial industry, emphasizing roles that involved loan procedures, customer service, or sales.

The resume should also highlight skills such as financial analysis, risk assessment, negotiation, and customer relationship management.

 

What qualities make a good commercial loan officer?

A good commercial loan officer is one who is detail-oriented and has a knack for numbers and finance.

They should have excellent decision-making skills and the ability to assess risks accurately.

They should be capable of building and maintaining strong relationships with their clients.

Additionally, they should exhibit professionalism and integrity in all their dealings.

 

What is the career path for a commercial loan officer?

Commercial loan officers generally start their careers in entry-level positions within the banking or finance sector.

With experience, they can move into more advanced roles, including senior loan officer, lending manager, or branch manager.

Some may choose to specialize in a specific type of lending, such as real estate or small business loans.

Further professional development and certifications can lead to positions like the vice president of commercial lending.

 

Conclusion

And there we have it.

Today, we’ve delved into the fascinating world of a commercial loan officer.

What’s the twist?

It’s not just about approving loans.

It’s about shaping the financial future, one approved loan at a time.

With our handy commercial loan officer job description template and real-life examples, you’re well-equipped to make your move.

But why stop at that?

Immerse yourself further with our job description generator. It’s your ultimate guide to crafting impeccable listings or refining your resume to perfection.

Remember:

Every approved loan is a piece of a larger financial puzzle.

Let’s shape that future. Together.

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