Becoming a Commercial Loan Officer Job Description, Responsibilities, Requirements and Skills
Learn what a commercial loan officer does, including Commercial Loan Officer Job Description duties like financial analysis, structuring loans, building client relationships and determining credit risk. Discover education and certification requirements.
A commercial loan officer is a finance professional who works with businesses to structure, underwrite, and manage loan products that support operations and growth. If you enjoy analyzing financials, negotiating deals, and helping businesses reach their goals, a career as a commercial lender could be very rewarding.
A commercial loan officer is responsible for evaluating, authorizing, and recommending approval for commercial loan applications on behalf of lending institutions. Their core duty is determining the creditworthiness of applications made by businesses and individuals looking to finance investments in equipment, real estate, or other projects.
Meeting Applicants and Collecting Information
- Meet with potential borrowers to explain loan options
- Collect financial statements, tax returns, appraisals, and other data
Risk and Credit Analysis
- Analyze financial data, credit scores, and collateral assets
- Determine risk levels and set customized loan terms
- Set interest rates, loan amounts, terms, payment plans
- Mitigate risk while accommodating client needs
Authorization and Recommendations
- Approve loans directly within set limits
- Recommend loans above limits to management
Client Relationship Building
- Build rapport with local businesses
- Educate on lending options and attract borrowers
Requirements and Skills
- Bachelor’s degree in finance, economics, business or related field
- Advanced degrees increase competency
- Certified Commercial Investment Member (CCIM)
- Demonstrates lending expertise
- Strong analytical and critical thinking ability
- In-depth lending process knowledge
- Excellent written and verbal communication
- Meticulous financial data analysis
- Ability to explain complex loans simply
Becoming an effective commercial loan officer requires specialized finance education, certification, stellar analytical skills, risk management expertise, and the ability to build strong client relationships. With the right competencies, loan officers have fulfilling careers supporting business growth through financing counsel.