Transcript: EC This is different than a term sheet Ellen Birsner Your Portfolio Manager will talk with their team leader to discuss the viability of the deal. We will briefly look at the financials provided and see if it makes sense for the bank. If it does make sense, we will issue a term sheet to the customer Ridgewood After the reports are in & we have the final loan docs, we set a date to close the loan. Commercial Lending Grant Chin Personal Financial Statement Last 2 years Business Tax Returns Last 2 years personal Tax Returns Lemoine This allows you to open up a discussion about the overall banking relationship. How will they pay us Back? If the customer accepts & signs the term sheet, the underwriting process will begin After Approval, we issue the Customer a Commitment Letter Hackensack After underwriting is complete, we send the loan off for approval. Once we receive a signed commitment letter, we begin to order all 3rd party reports. Pal Ave Holmdel A term sheet is a brief outline of the deal. It includes rate, term, structure and conditions Chris Licata NJCB Rocks! Call or email your Portfolio Manager to explain the request you received. 1. A Customer has a discussion with you or your staff inquiring about a business loan. We'd love for your CSRs to have the initial conversation with the customer regarding their needs & loan request WNY During underwriting, a deep analysis of the company is performed, including the most important question.... Cresskill Please let the customer know the documents that are required. Best Bank Ever!
Transcript: By: Samyuktha Ravi Commercial Lender Wharton School of Business at UPenn Salary Bedminister, Nj The End! 2. Peapack-Gladstone Bank: Is a commercial bank that provides innovative private banking services to businesses, non-profits and consumers that help them to establish, maintain and expand their legacy. They offer commercial banking services, personal banking services and private banking services. Their commercial loans range from $10,000 to $12 million. A commercial lender earns around $50,500 to $80,000 per year. This salary range only accounts for commercial lenders with zero to three years of experience. After three to five years on the job, however, commercial lenders are offered 65,750 to $103,250 per year. After five or more years of experience, they can expect to earn $86,000 to $120,750 per annum. On top of experience, education directly affects salaries. Commercial lenders with master’s degrees in finance, business or economics earn more than their colleagues with bachelor’s degrees. It is estimated that lenders with post-secondary degrees earn 5 percent to 10 percent more than average. The form of compensation varies widely by employer. Some loan officers are paid a flat salary; others are paid on commission. Those on commission usually are paid a base salary plus a commission for the loans they originate. Loan officers also may receive extra commission or bonuses based on the number of loans they originate or how well the loans do. Commercial Lenders in NJ Training: Employers provide on the job training. This may be a combination of formal, company-sponsored training and informal training during the first few months on the job. Those who use underwriting software often take classes to learn the company’s software programs. Advancement opportunities: Capable loan officers may advance to larger branches of the firm or to managerial positions. while less capable workers—and those having weak academic preparation—could be assigned to smaller branches and might find promotion difficult without obtaining training to upgrade their skills. Advancement beyond a loan officer position usually includes supervising other loan officers and clerical staff. “We turn Knowledge into Action” --The administrators look at: High school academic performance ,Standardized testing, Recommendations, Non-scholastic achievements, Leadership, Personal maturity. --The undergraduate admissions committee looks for individuals who will be future leaders. There are no fixed criteria and no cut-offs in terms of grades or test scores Cost of a degree: around $59,736 per year. (varies depending on the programs and courses you are taking) Time frame for UG: 4 years Business Alumni: Warren Buffet (Berkshire Hathaway; dropout), Donald Trump (Trump organization), John Scully (Apple and Pepsi), Anil Ambani (Reliance Group), Leonard Lauder (Estée Lauder), Peter Lynch (Fidelity) They offer too many degrees, including BS, PHD, MBA,BS/BA, BS/BSE/BAC,MPA,ID,MPP. Mainly- Bachelor of Science in Economics. They offer internships with your course of study and the salary varies but on an average, it is $8000. Minimal qualifications/Education: a bachelor’s degree in business/finance or something related to that-sufficient to enter the field. Work experience in a related field is not a requirement for this occupation. Because commercial loan officers analyze the finances of businesses applying for credit, they need to understand general business accounting, including how to read financial statements. Some loan officers may be able to enter the occupation without a bachelor’s degree if they have related work experience, such as in sales, customer service, or banking. Federal law requires that all loan officers obtain state licensing. The licensing requirements include attending a 20-hour course, passing an exam, passing a background check and not having any felony convictions. Commercial Lenders: are financial institutions that offer loans backed by hard collateral to commercial enterprises. It’s often up to the commercial lender, a.k.a Commercial Loan Officer whether a business is considered a good candidate for a loan. loan officers use a process called underwriting to assess whether applicants qualify for loans. After collecting and verifying all the required financial documents, the loan officer evaluates this information to determine the applicant’s loan needs and ability to pay back the loan. Some firms underwrite loans manually, calculating the applicant’s financial status by following a certain formula or set of guidelines. Other firms use underwriting software, which analyzes applications almost instantly. More often, firms use underwriting software to produce a recommendation, while relying on loan officers to consider any additional information to make a final decision. Commercial Lenders Requirements Commercial Loan officers generally: --Contact companies or people to ask if they need a loan --Meet with loan applicants to gather
Transcript: College BY: Brandon Ball College cont. Villa Nova Financing Group A local business in Warren, NJ. Fixed and adjustable rates Advanced Opportunities Qualifications to start off you have to have a high school diploma. However if you are dealing with mortgage, you need a 4 year degree in finance, economics or business. Also need training from a already registered commercial lender Commercial Lender 2 Businesses To get into Texas, the amount per year instate is $9,418 Out of state the cost of a year is $33,264 minimum gpa isnt really liable, but you need to do very good on your SATs to get in You can sell mortgage Commercial Development Officer Banking Lender Financial Analyst Loan Officer Car Loans Salary is $71,000 Texas University One of the top business schools Provide majors in all types of accounting have very good professors for commercial lenders and accountaints Offers a great undergraduate program for commercial lenders Amboy Bank Closest location is in New Brunswick They sell any sort of loans including land
Transcript: Training Day 11/11/19 Lending Share Secured Loans Share Secured Loans Minimum loan amount is $250 Fixed rate No credit check Automatic approval Prime Share Sub-Share Money Market Certificate IRA's are not eligible to be used as collateral. Deposit funds into one of the following: Where to put the money Share Secured Visa Share Secured Visa Minimum loan amount is $250 Fixed rate No credit check Automatic approval Works like a normal credit card Used to rebuild bad credit Secured funds cannot be used to make the monthly payment Deposit funds into one of the following Where to put the money Prime Share Sub-Share Money Market Certificate IRA's are not eligible to be used as collateral. EZ-Card EZ-Card The website that members can log into to view their Visa Credit Card information is: ezcardinfo.com View your bill Make your payment Check your ScoreCard Reward balance View transaction history What can I do there? Log-in Requirements How do I log in? Card number Primary cardholder's full name Primary's DOB & SSN How do I make an online payment? Online Loan Payments The easiest way to answer this is to direct the member to our blue handout. There are 4 easy steps for them to follow. Go to tcfedcu.org Click green button labeled "Loan Payment" Register Input First, Last Name and email Input account number w/o suffix, DOB, and last 4 of SSN Create a password Follow on-screen directions to set up payment How to Log-in: Where do I go? One-time payment via debit card or ACH, which both will charge a $7.00 convenience fee. Set up a recurring ACH to avoid the $7.00 convenience fee. How can I pay? How can I pay? Loan amounts up to $1,000 0% 12 months $40 Application Fee up front Applications accepted Nov. 1 - Dec. 24 Santa's Helper Loan Santa's Helper Loan
Transcript: Responsibilities as a Commercial Lender Commercial lenders are used specifically for loans to businesses All companies have complex financial situations, which requires human judgement from a commercial loan officer Some loans for companies are too large for a single bank, so a commercial lender will have to work with multiple banks in order to provide a package of loans By:Ryan Brennan University of Michigan has a solid undergraduate business program A major that would be beneficial for a commercial lender would be finance or business University of Michigan is ranked number 4 in the country for business and number 3 for finance A bachelor's degree would take 4 years to earn The cost for tuition and room and board is $43,377 a year One famous alumni from University of Michigan is Richard Costolo, who is the CEO of twitter Available job continued Salaries range from $32,000 to $120,000 The average salary is around $60,000 There is a project growth in employment as a commercial lender of 8 percent Advancement beyond being a commercial lender is supervising other commercial lenders A bachelor's degree in either business or finance is the minimum requirement to become a commercial lender Commercial lenders must also understand general business accounting Once hired, commercial lenders receive on-the-job training Available Job as a Commercial Lender Commercial Lender as a Career One company that has an open position as a commercial lender is Capital Bank The description of this job is that this person "Examines, analyzes, evaluates, and authorizes or recommends approval/denial of customer applications for commercial loans. Monitors and maintains existing commercial loan portfolio. Provides customer service to commercial Bank clients." Capital Bank is a large company that was founded in 1998 Capital Bank provides a range of commercial banking services which make up about half of the bank's loan portfolio (total of all loans held by the bank) What is a Commercial Lender? It is required to have a bachelor's degree as well as 3-5 years commercial lending experience College to Attend Commercial Lender Contact companies to ask if they need a loan Meet with the companies to gather information Explain different types of loans Obtain and verify financial information about the company Approving the loan application
Transcript: Securing Capital Meeting our client's capital needs! the first step is to become familiar with the different types of products available that a business could use to secure capital. Equipment Leasing One you are familiar with each type of product, all you really need to know is "how much capital do you need? Accounts Receivables Financing (A/R) The selling of a companys accounts receivable, at a discount, to a factor, who then assumes the risk of the account debtors and receives cash as the debtors settle their accounts. You can finance companies that are.... ..in bankruptcy. ..losing money accounts receivable financing is based on the credit of the CLIENT'S CUSTOMERS....not the clients PO financing Purchase Order financing (PO Funding) is a short term commercial finance option that provides capital ot pay suppliers upfront so a company doesn't have to deplete cash reserves. PO financing is designed for growing businesses with ittle access to working capital and/or poor cash flow. They type of business that qualifies is usually a producer, distributor, wholesaler or reseller of manufactured products Working Capital funds that are used for labor, equipment, inventory, payroll - Sale Leaseback where a lender will purchase a client's equiptment (cash to client), and then lease the equipment back to the client. Merchant Card we have lenders who will advance a client over 130% of their monthlyaverage Visa/MC/Discover receipts Line of Credit Clients can get secured and unsecured lines of credit based on their A/R or Merchant Card receipts Stock Loans clients can get up to 85% of the value of their stock portfolio - without selling the stock. They are only using it as collateral. Annuity Settlements an opportunity for clients to monetize their annuity or lottery payments SBA programs for small businesses that are partially guaranteed by the small business admininstration (SBA) there are 2 main types of SBA loans: 7a | 504. they each have their own pros/cons Repossessed Equipment we have access to trucks/equipment that has been respossesed by various banks. We can sell/lease the equipment to the client. Hard Money Loan a loan where a borrower receives funds secured by the value of a parcel of real estate. MultiFamily Apartment buildings, student housing Franchise Financing subways, quiznos. CiCi's pizza, purchasing or leasing the property Medical Financing working capital, AR financing, equipment leasing - there are lenders who specialize in this type of financing only for businesses in the medical industryp START UPS SBA loans are good for start ups, however depending on the other assets the company may have (PO, contract, proprietary info/technology, experience) there may be other financing options. Commercial Construction
Transcript: Perception Zac Nelson Senior Vice President Zions Bank 1.25 minimum coverage Q&A Character Cash Flow Capacity Condition Capital Cash Flow Capacity Capital Collateral Character Conditions Components of Commercial Lending Collateral Reality 6 C's of Credit
Transcript: We have worthless investments Sub-prime mortgages "Insured" CDO Things to get started ;) We can't pay our "Credit defualt swaps" House owners started to default -Credit defualt swaps Mortgage CDO Mortgage Mortgage Investment The Financial Crisis Collateralized debt obligation -Mortgages: The turning point Mortgage -Investment Banks Banks got the ownership of the houses Investment bank -Credit rating agencies -We cant sell our CDOs -So we can't pay our laons Investors I own these houses! investments It was a way-invented by investment banks- to link the investor with the home owenrs and let the bank have a good commission Investors Investment Banks More CDO Sub-Prime Mortagegs lender Mortagages Mortgage lender Prime mortgages Mortgages
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