Education Career Articles

Connect Facebook Connect Twitter Connect Google+ Connect Pinterest Connect Stumbleupon

Commercial Loan Business Development Officer Job Description

Job Descriptions December 28, 2013

Do you love people, enjoy the idea of helping others, and have a mathematical mind? Then, it’s time to think about an entry-level position in commercial loans. Commercial loans are highly complex, as the lending company is studying the application closely, trying to figure out how the contract might be profitable. This is where a commercial business development officer comes in. The title is certainly complex, but what he or she does is simply sell commercial loan services to possible borrowers.

The development officer focuses on creating a relationship with the client, taking the initial steps and developing a loan relationship. He or she works closely with the manager in closing the process. However, much of the relationship is defined and nurtured in the beginning.

The Duties of Loan Officers

Even though these professionals specifically work with commercial loans and in development (as opposed to closing) they may actually perform a number of the same tasks as traditional loan officers. For instance, loan development officers put the application together, and approve loans within specified limits, in order to deliver it to the manager for final approval and processing. The officer can also use discretion in deciding when to approach the manager in case of loans outside specified limits.

The loan officer meets with the applicants and takes the burden of the project, since the first part is gathering material, answering questions, and helping to prepare borrowers for the process ahead. Helping borrowers become approved in credit, not to mention analyzing other factors such as financial status and property appraisals is another major step, since high risk consumers may not be feasible borrowers. In addition to explaining individual plans, the terms the company creates must be explained and reviewed.

Where the Career Field Differs

One reason this is a unique career field is because it exclusively involves commercial loans, which are scrutinized by banks and lending companies for profitability potential. It’s your job to review and update loan files, but you also have to produce. Obviously, the introduction is the most important part of the process, which is why these workers focus on the development, as opposed to closing. They may handle the entire process or they may even receive help from the manager or another “closing” salesperson.

Education is paramount, and most employers will require a bachelor’s degree. Work experience is also vital even though this is not a managerial position. Rather, three years or more of field experience usually helps new trainees to be hired. Skills that are essential to this career field are good judgment, charisma, conversational and listening skills and flexibility in mind. However, conversational skills cannot replace fundamental accounting knowledge. Learning more about practices and policies is a smart move, as it could help you to fit in with the company culture, showing you to be a step above the rest who are only willing to learn—not to demonstrate their skills in advance.

This is a golden opportunity to enter a mid-level career position, without investing heavy time or work experience. You can contact the college of your choosing regarding your options and start planning for your future today.

Showing schools in your area

Matching School Ads
5 Program(s) Found
  • Do you have entrepreneurial visions to advance your career in the business world? Learn about the options available at GCU.
  • Earn a competitive bachelor's or master's degree in the areas of business administration, business analytics, accounting, marketing and more.
  • Many of our business degrees have attained elite accreditation from the Accreditation Council for Business Schools & Programs (ACBSP).
  • GCU nurtures the startup spirit, propelling your entrepreneurial visions on a powerful platform with opportunities to help you thrive.
  • Pursue a next-generation education with an online program or join Grand Canyon University's vibrant and growing campus community in beautiful Phoenix, Arizona.
Good for Working Adults
  • Accredited
  • Online Courses
  • Flexible Scheduling
  • Accelerated Programs
  • Financial Aid
  • Transferable Credits
5 Program(s) Found
  • Boldly pursue your future in business with an online degree from Post University
  • Degrees at all levels with concentrations in Finance, Marketing, and much more
  • Ranked in the Best Online Bachelors Programs for Veterans by US News & World Report
  • Ranked in the Best Online Bachelor’s Programs by the US News & World Report
Good for Working Adults
  • Accredited
  • Online Courses
  • Flexible Scheduling
  • Accelerated Programs
  • Financial Aid
  • Transferable Credits
5 Program(s) Found
  • Our top-ranking program blends modern business theory with real-world experience
  • Institutionally accredited by SACSCOC with ACBSP graduate business program accreditation
  • High-quality, Christ-centered education with online and select on-campus & evening courses
  • Qualifying bachelor's students can transfer up to 90 credit hours into their degree program
  • 86% of Regent students receive some form of financial aid
  • Online Courses
5 Program(s) Found
  • Separate yourself from the pack by completing one of Saint Leo’s highly-rated Business degree programs. Associates, Bachelors, and Graduate degrees in highly sought-after concentrations available!
  • Learn the necessary skills and build the foundation to propel your business career by receiving an education from our faculty members with true real-world experience.
  • Saint Leo University provides academic excellence, flexibility, affordability, and a wide range of educational programs with financial aid and scholarships available to those who qualify.
  • Saint Leo offers a 14:1 Student-Teacher Ratio to ensure you get the personal attention you deserve.
  • Learn on your schedule with our 6 convenient available start dates throughout the year. Get started on earning your accredited Business degree today!
Good for Working Adults
  • Accredited
  • Online Courses
  • Flexible Scheduling
  • Accelerated Programs
  • Financial Aid
  • Transferable Credits
  • Find Online Schools. 100% Online Accredited Courses
  • Get Matched to Programs In A Few Clicks!
  • Earn an Affordable Degree from Home at your own pace
  • Get College info today. Its Free and Easy!
  • Online Courses

Showing schools in your area

Matching School Ads
5 Program(s) Found
  • Why Earn Your Degree from GCU?
  • Options: Choose from a variety of undergraduate and graduate degree programs in Business, Nursing, Psychology, Education & more!
  • Convenience: Complete courses online, on campus, or a combination of both!
  • Earlier Graduation: Our 4-credit courses allow you to complete your degree program in less time.
  • Transfer Friendly: We will request your transcripts, evaluate your graduate coursework, and determine your anticipated graduation date within 24 hours.
  • Quality: Grand Canyon University was founded in 1949 and is regionally accredited. Learn more today!
Good for Working Adults
  • Accredited
  • Online Courses
  • Flexible Scheduling
  • Accelerated Programs
  • Financial Aid
  • Transferable Credits
5 Program(s) Found
  • Boldly pursue your future in business with an online degree from Post University
  • Degrees at all levels with concentrations in Finance, Marketing, and much more
  • Ranked in the Best Online Bachelors Programs for Veterans by US News & World Report
  • Ranked in the Best Online Bachelor’s Programs by the US News & World Report
Good for Working Adults
  • Accredited
  • Online Courses
  • Flexible Scheduling
  • Accelerated Programs
  • Financial Aid
  • Transferable Credits
5 Program(s) Found
  • Our top-ranking program blends modern business theory with real-world experience
  • Institutionally accredited by SACSCOC with ACBSP graduate business program accreditation
  • High-quality, Christ-centered education with online and select on-campus & evening courses
  • Qualifying bachelor's students can transfer up to 90 credit hours into their degree program
  • 86% of Regent students receive some form of financial aid
  • Online Courses
5 Program(s) Found
  • Separate yourself from the pack by completing one of Saint Leo’s highly-rated Business degree programs. Associates, Bachelors, and Graduate degrees in highly sought-after concentrations available!
  • Learn the necessary skills and build the foundation to propel your business career by receiving an education from our faculty members with true real-world experience.
  • Saint Leo University provides academic excellence, flexibility, affordability, and a wide range of educational programs with financial aid and scholarships available to those who qualify.
  • Saint Leo offers a 14:1 Student-Teacher Ratio to ensure you get the personal attention you deserve.
  • Learn on your schedule with our 6 convenient available start dates throughout the year. Get started on earning your accredited Business degree today!
Good for Working Adults
  • Accredited
  • Online Courses
  • Flexible Scheduling
  • Accelerated Programs
  • Financial Aid
  • Transferable Credits
  • Find Online Schools. 100% Online Accredited Courses
  • Get Matched to Programs In A Few Clicks!
  • Earn an Affordable Degree from Home at your own pace
  • Get College info today. Its Free and Easy!
  • Online Courses

Login to your account

Can't remember your Password ?

Register for this site!