SBA and Conventional Underwriter - Healthcare Real Estate

Celtic Bank’s healthcare lending team is looking for a an experienced SBA underwriter; preferably with some background underwriting healthcare facilities, including ALF/MC/SNF/CCRC and more.   Ideally, the candidate will have experience underwriting conventional loans as well—however this is not a prerequisite.  Further, experience underwriting construction loan requests is a plus.  This is a great opportunity for a strong SBA Underwriter looking to learn and progress as a conventional Underwriter specializing in the Healthcare industry.

Primary responsibilities and qualifications include:

• Loan underwriting with a special focus on healthcare assets. 
• Commencing at time of term sheet acceptance:
• If applicable, confirm the applicant’s request is SBA eligibility. 

• Communicate effectively with all parties necessary to underwrite and approve the loan—including but not limited to the bank’s healthcare business development team, bank operations, applicants, referral sources, title/escrow, etc.     
• Begin readying the file for approval consideration, complete review of applicant qualifications, model metrics including loan sizing and structuring, calculating historic and projected income, DSCR, GDSC, and loan to value ratios, etc.
• Familiarity with current SBA SOP guidelines is critical.
• Develop financial models for the evaluation of bridge loan opportunities, reviewing potential healthcare transactions for the proper balance of feasibility and risk.
• Conduct background checking and KYC review (Know Your Customer) on all parties to the transaction including but not limited to the Sponsor, Operator, Management, Builders, Guarantors, etc.
• Oversee the financial and operational due diligence process for healthcare financing requests.  This may include evaluating appraisals, market studies, project capital need assessments, environment studies, analysis of corporate and personal financial statements, third party credit reports, insurance policies and endorsements and any other document(s) needed as part of the underwriting process.
• Calculate and interpret investment returns (i.e.- IRR, NPV, ROI, ROE).
• Analyze borrower provided operating and capital expense budgets to ensure that all operational information is captured in the financial model and reporting packages.
• Compile and analyze relevant market data and trends.
• Assist with identifying and gathering all remaining application items needed to complete credit authorization memoranda.  Be an effective communicator with the developed skills to effectively collaborate with clients, outside attorneys, and other stakeholders. 
• Remotely present your completed loan write up to the bank’s credit committee.

• It is critical to be able to work comfortably in a team environment with a positive, solution-oriented approach with operations, sales and upper management.
• Interface and resolve issues as needed to ensure both a smooth underwriting and closing process
• Be prepared to help facilitate the closing of both SBA and conventional loan request. 
• Review documentation necessary to ensure continuing compliance with loan covenants.  Be flexible and ready to assist as needed with loan servicing actions.

Requirements

> 2 years of related work experience as an SBA loan underwriter.   

• Bachelor’s Degree.
• Strong finance, credit, legal, commercial real estate and/or business background.
• Established organizational skills and ability to simultaneously handle multiple projects.
• Helpful if candidate has experience with HUD “MAP” and/or “Lean” underwriting.
• Helpful if candidate has commercial loan closing experience. 
• Extensive computer skills including Excel, Word and PowerPoint.
• Strong oral and written communication skills, advanced financial analytical proficiency, and solid interpersonal skills.
• Demonstrate a strong desire to learn and grow within the healthcare lending industry. 

Benefits

• Medical, dental, vision
• 401(k) with employer match
• Life and long-term disability coverage
• HSA and FSA plans
• Holidays and paid time off requests
• Robust wellness program (we’re talking catered meals three times a weeks, lunch and learns, and onsite gym.)

Headquartered in the heart of downtown Salt Lake City, Utah, Celtic Bank was named a top SBA lender in the nation in 2023! Celtic Bank is a leading nationwide lender specializing in SBA 7(a), SBA 504, USDA B&I, express loans, asset-based loans, commercial real estate loans and commercial construction loans.

Celtic Bank is an equal opportunity employer and complies with all applicable federal, state and local fair employment practices laws.

Physical and Other Requirements

This job operates in a professional office environment. This role routinely uses standard office equipment such as computers, phones, photocopiers, filing cabinets and fax machines. The demands described here are representative of those that must be met by an employee to successfully perform the essential functions of this job.

• Stationary Work: The employee is frequently required to stand; walk; use hands to type, handle documents, and perform other office related duties. Exerting up to 10 pounds of force occasionally and/or negligible amount of force frequently or constantly to lift, carry, push, pull or otherwise move objects.
• Mobility: The employee in this position needs to occasionally move between work sites and inside the office to access file cabinets, office machinery, etc.
• Communicate: The employee is regularly required to talk or hear and will frequently communicate with others. Must be able to read, write and understand fluent English.

• Work Model: The employee in this position will work either a fully Onsite, Hybrid or Remote work model. All employees, regardless of location, may be required to travel to the Salt Lake City office for mandatory company meetings, events, or related occasions.
• Utah-based employees: Hybrid work schedule available after initial training period in our Salt Lake City, Utah office – department and job requirements will determine eligibility.
• Out of State employees: Full remote work schedule available