Loan Specialist (Commercial)

Other Agencies and Independent Organizations

This position is located in the Small Business Administration, Herndon National Guaranty Purchase Center in Herndon, VA. The National Guaranty Purchase Center located in Herndon, Virginia, processes 7a guaranty purchase requests, and liquidates defaulted loans made under the 7a program. The incumbent serves as a Loan Specialist in the National Guaranty Purchase Center and is responsible for performing servicing, purchase, or liquidation activities.

• As a Loan Specialist (Commercial) at the GS- 1165-12, some of your typical work assignments may include: Performs a variety of tasks for servicing, purchasing and liquidating loans. Reviews assigned loan file to become acquainted with the characteristic requirements, collateral, and terms of the loan. Gathers and reviews facts and data relating to the loan balance, lien situations, collateral, interest of other creditors, and any assets of the borrower which may provide recovery to the Agency. Contacts lenders/Certified Development Companies (CDC's) to discuss the business, the loan situation and explore all available alternatives. Gathers information from borrowers, major creditors, and legal representatives to make recommendations to maximize recovery to the Agency and minimize loss to the obligor(s). Analyzes potential "work-outs" in common situations and develops recommendations for standard plans for repayment of the debt through restructured amortization, extended maturities, etc.

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