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What steps do I need to take to become a commercial loan officer?
By
sunshine&summertime!
Posted on
06/23/08 Total Answers
1
Answers-
An undergrad degree is business/finance is typical...but I have seen many loan officers with different backgrounds. Commercial lending has become a sales position more than anything else. I started out as an analyst - many banks offer management trainee programs where you learn all the different operations of a bank. This is where you learn what a good loan looks like...and more importantly, what a bad loan looks like. The majority of the first year was spent underwriting commercial customers, going on calls with other loan officers and really just learning the biz by shadowing experienced lenders. You must have excellent communication skills and be able to communicate with people at ALL levels within an organization. When you are looking for jobs, look for the term "credit analyst". This is often the first entry level job to move in that direction. Once you have proven your abilities, you will typically move into a lending role and will have your own portfolio. Get ready to cold call and network your butt off.
