Commercial Loan Closer

Overview

Impact Development Fund (IDF) is a community-based nonprofit 501c3 organization with a mission to create economic opportunity by delivering flexible capital to strengthen under-served communities. IDF’s primary focus is on providing direct capital to support affordable housing development and preservation, non-profit community facilities, and energy efficiency upgrades to commercial real estate projects. IDF is certified by the U.S. Department of the Treasury as a Community Development Financial Institution (CDFI) and embodies the concept of public-private partnership through its investor network that includes banks, foundations, private interests, local and federal government.

Additionally, IDF serves constituents statewide through a robust lending platform from which local partners can implement highly focused initiatives.

Position Summary:

The Commercial Loan Closer is responsible for coordinating and executing commercial loan closings from credit approval through funding. This role ensures that all closing conditions, documentation, and funding requirements are satisfied accurately, timely, and in compliance with internal policies and regulatory standards.

The Commercial Loan Closer works closely with borrowers, internal lending staff, legal counsel, title companies, and other third parties to support efficient and compliant loan closings. This position reports to the Manager, Commercial Portfolio & Closings.

• Work as “One Team” and provide backup support across the organization as needed.
• Represent IDF in the community by building and maintaining strong relationships with borrowers, community partners, CDFIs, nonprofits, housing authorities, municipalities, and professional service providers.
• Serve as a point of contact for commercial borrowers during closing and post-closing phases.
• Support continuous improvement of commercial lending policies, procedures, and systems.
• All employees are responsible for customer and client inquiry routing (phone, email, mail, deliveries, etc.).

• Coordinate the commercial loan closing process from credit committee approval through funding, actively managing timelines and communication among internal and external stakeholders to ensure closings occur on schedule.
• Review committee-approved credit memoranda and translate closing conditions into actionable documentation and funding requirements.
• Prepare, draft, and assemble loan closing documents, including commitment letters, loan agreements, promissory notes, guarantees, security instruments, and disbursement authorizations, ensuring compliance with credit approvals and internal lending policies.
• Serve as a key point of contact for borrowers and third-party partners (including legal counsel, title companies, escrow agents, and insurance providers) throughout the closing process, providing guidance on documentation requirements and timelines to ensure accurate and timely completion of closing requirements.
• Ensure proper execution, recording, and perfection of collateral in accordance with internal policies and regulatory requirements.
• Prepare closing statements and funding packages and submit for review and approval prior to disbursement.
• Maintain organized and complete closing files, including electronic document management systems.
• Coordinate post-closing documentation review and file completeness in collaboration with lending, portfolio management, servicing, and finance staff to ensure accurate loan boarding and a smooth transition from closing to servicing.

• 3 - 5 years of mortgage or commercial lending operations experience as a loan processor, underwriter or closer.
• Strong understanding of loan documentation, collateral, and closing processes for commercial or real estate loans.
• Experience working with legal counsel, title companies, escrow, and insurance providers.
• High attention to detail and ability to manage multiple transactions simultaneously.
• Strong written and verbal communication skills.
• Proficiency with Microsoft Office and loan documentation systems.
• Ability to analyze detailed documents and…