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
  • Liberty University provides a worldclass education from a christ-centered worldview
  • 100% online programs at associate, bachelor’s, master’s, and doctoral levels
  • No standardized testing if student meets admission requirements
  • Accredited by the Southern Association of Colleges and Schools Commission on Colleges
  • 95% of Liberty University students receive some form of financial aid
  • Accredited
  • Online Courses
  • Financial Aid
  • Transferable Credits
5 Program(s) Found
  • Which career path will you take – Business, Nursing, Education, Psychology? Something else? GCU offers more than 100 majors to get you started!
  • Colangelo College of Business: Features more than 25 programs from the bachelor through the master's level, including several high-demand MBA programs and an accelerated accounting degree.
  • College of Nursing and Health Care Professions: Rich 25-year history providing outstanding health care and nursing degree programs, including an RN to BSN program & master's in nursing degrees.
  • College of Education: Whether you are looking to start or advance your career as a teacher or administrator, GCU offers bachelor’s and master’s in education degrees in key areas.
  • College of Humanities and Social Sciences: Provides a job focused education and features a variety of programs from counseling and psychology to justice studies, history and English literature.
  • Does something else interest you? GCU also offers programs in Doctoral Studies; Theology; Science, Engineering & Technology; and Fine Arts & Production. Speak with an enrollment counselor today!
Good for Working Adults
  • Accredited
  • Online Courses
  • Flexible Scheduling
  • Accelerated Programs
  • Financial Aid
  • Transferable Credits
  • Are You a Natural Leader or Good with Numbers? Get Educated in the Business Field.
  • Build the Capabilities and Connections to Power Your Future.
  • Business Administration & Management, Accounting, Marketing Degree Programs and More From Top Colleges that Fit Your Needs.
  • Find Schools Online or Near You & Get Info for FREE Today!
  • Online Courses

Showing schools in your area

Matching School Ads
5 Program(s) Found
  • Liberty University provides a worldclass education from a christ-centered worldview
  • 100% online programs at associate, bachelor’s, master’s, and doctoral levels
  • No standardized testing if student meets admission requirements
  • Accredited by the Southern Association of Colleges and Schools Commission on Colleges
  • 95% of Liberty University students receive some form of financial aid
  • Accredited
  • Online Courses
  • Financial Aid
  • Transferable Credits
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
  • Are You a Natural Leader or Good with Numbers? Get Educated in the Business Field.
  • Build the Capabilities and Connections to Power Your Future.
  • Business Administration & Management, Accounting, Marketing Degree Programs and More From Top Colleges that Fit Your Needs.
  • Find Schools Online or Near You & Get Info for FREE Today!
  • Online Courses

Login to your account

Can't remember your Password ?

Register for this site!