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How to hire a commercial lender

Commercial lender hiring summary. Here are some key points about hiring commercial lenders in the United States:

  • There are currently 6,367 commercial lenders in the US, as well as 27,016 job openings.
  • Commercial lenders are in the highest demand in Hudson, MA, with 5 current job openings.
  • The median cost to hire a commercial lender is $1,633.
  • It takes between 36 and 42 days to fill the average role in the US.
  • Human Resources use 15% of their expenses on recruitment on average.
  • On average, it takes around 12 weeks for a new commercial lender to become settled and show total productivity levels at work.

How to hire a commercial lender, step by step

To hire a commercial lender, you need to identify the specific skills and experience you want in a candidate, allocate a budget for the position, and advertise the job opening to attract potential candidates. To hire a commercial lender, you should follow these steps:

Here's a step-by-step commercial lender hiring guide:

  • Step 1: Identify your hiring needs
  • Step 2: Create an ideal candidate profile
  • Step 3: Make a budget
  • Step 4: Write a commercial lender job description
  • Step 5: Post your job
  • Step 6: Interview candidates
  • Step 7: Send a job offer and onboard your new commercial lender
  • Step 8: Go through the hiring process checklist

What does a commercial lender do?

A commercial lender is in charge of handling and processing business loan applications, ensuring accuracy and smooth workflow. Their responsibilities typically revolve around liaising with company representatives to identify their needs, gathering and verifying applications, providing consultations and recommendations, and negotiating contracts and payment arrangements. They must also keep track of all amendments and processes, maintaining records of all transactions. Furthermore, as a commercial lender, it is essential to build positive relationships with clients, all while adhering to the company's policies and regulations.

Learn more about the specifics of what a commercial lender does
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  1. Identify your hiring needs

    The commercial lender hiring process starts by determining what type of worker you actually need. Certain roles might require a full-time employee, whereas part-time workers or contractors can do others.

    Determine employee vs contractor status
    Is the person you're thinking of hiring a US citizen or green card holder?

    You should also consider the ideal background you'd like them a commercial lender to have before you start to hire. For example, what industry or field would you like them to have experience in, what level of seniority or education does the job require, and how much it'll cost to hire a commercial lender that fits the bill.

    The following list breaks down different types of commercial lenders and their corresponding salaries.

    Type of Commercial LenderDescriptionHourly rate
    Commercial LenderLoan officers evaluate, authorize, or recommend approval of loan applications for people and businesses.$25-49
    Bank OfficerA bank officer is in charge of overseeing the daily operations at banking establishments, ensuring efficiency and client satisfaction. Their responsibilities include gathering and analyzing requests, approving and denying loan applications, providing consultations, processing client requests, and producing progress reports... Show more$27-52
    Mortgage BankerA Mortgage Banker is specialized in offering financing to buy homes or refinance previous mortgages. They work as part of a banks loan department.$4-37
  2. Create an ideal candidate profile

    Common skills:
    • Commercial Loans
    • Customer Relationships
    • Loan Applications
    • Loan Portfolio
    • Credit Analysis
    • Bank Products
    • SBA
    • Origination
    • Financial Analysis
    • Financial Statements
    • Loan Terms
    • Treasury
    • Loan Committee
    • Financial Services
    Check all skills
    Responsibilities:
    • Establish contacts within SBA to gain competitive advantage on knowledge of regulation changes and timely processing of applications.
    • Work with COI's, and partnerships to achieve success in helping small businesses with their financial needs.
    • Develop cross-sell opportunities with no-relationship manage business banking clients.
    • Analyze and support development and execution of underwriting, automation and operational strategies to efficiently and effectively manage the portfolio.
    • Identify and execute cross-selling activities throughout multiple areas of the bank.
    • Remain current in guidelines for conventional, FHA, & VA loans.
    More commercial lender duties
  3. Make a budget

    Including a salary range in the commercial lender job description is a good way to get more applicants. A commercial lender salary can be affected by several factors, such as the location of the job, the level of experience, education, certifications, and the employer's prestige.

    For example, the average salary for a commercial lender in Louisiana may be lower than in Washington, and an entry-level engineer typically earns less than a senior-level commercial lender. Additionally, a commercial lender with lots of experience in the field may command a higher salary as a result.

    Average commercial lender salary

    $74,995yearly

    $36.06 hourly rate

    Entry-level commercial lender salary
    $54,000 yearly salary
    Updated December 19, 2025

    Average commercial lender salary by state

    RankStateAvg. salaryHourly rate
    1Texas$86,038$41
    2Minnesota$81,617$39
    3Illinois$76,733$37
    4South Dakota$76,076$37
    5Wisconsin$73,238$35
    6Iowa$72,989$35
    7Ohio$70,806$34
    8Montana$70,336$34
    9Georgia$69,252$33
    10Oklahoma$68,830$33
    11Missouri$68,593$33
    12Pennsylvania$62,911$30
    13Utah$62,382$30
    14Indiana$60,098$29

    Average commercial lender salary by company

    RankCompanyAverage salaryHourly rateJob openings
    1IBC Bank$83,320$40.06
    2Northern Trust$81,190$39.03
    3Washington Trust Bank$79,441$38.193
    4Prosperity Bank$76,009$36.5435
    5GPAC$75,424$36.26
    6Glacier Ban$75,378$36.24
    7MRI The Boston Group$72,495$34.85
    8LC Staffing$68,824$33.09
    9Citizens Bank of Amsterdam$68,680$33.02
    10Inter National Bank$68,277$32.833
    11Civista Bank$68,083$32.7316
    12Zions Ban$65,257$31.37
    13Union State Bank$65,181$31.345
    14Management Recruiters International(MRI)$64,404$30.9626
    15Savings Bank of Mendocino County$63,741$30.64
    16Valley National Bank$63,534$30.552
    17Jersey Shore State Bank$63,072$30.32
    18Home Federal Bancorp Inc/La$62,879$30.232
    19Randstad North America, Inc.$62,212$29.91
    20Adams Keegan$61,776$29.70
  4. Writing a commercial lender job description

    A commercial lender job description should include a summary of the role, required skills, and a list of responsibilities. It's also good to include a salary range and the first name of the hiring manager. To help get you started, here's an example of a commercial lender job description:

    Commercial lender job description example

    Works to achieve an assigned loan goal of $9-$12M, depending on experience, opportunity in the market, and other responsibilities.

    May be assigned to handle specialty lines – Construction, Insurance, or Small Business Administration (SBA) – and any related lending programs such as the Paycheck Protection Program (PPP).

    QUALIFICATIONS

    To perform this job successfully, an individual must be able to perform each essential duty satisfactorily. The requirements listed below are representative of the knowledge, skill, and/or ability required. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.

    EDUCATION and/or EXPERIENCE

    This position requires specialized loan knowledge and prior lending experience.

    Minimum Education: Bachelor’s degree from an accredited college or university

    Preferred Education: MBA

    Minimum Experience: Five years of commercial lending experience

    A combination of education and experience may be considered.

    LANGUAGE SKILLS

    Ability to read, analyze, and interpret general business periodicals, professional journals, technical procedures, vendor contracts, or governmental regulations. Ability to write. Ability to effectively present information and respond to questions from clients, customers, and the general public.

    MATHEMATICAL SKILLS

    Ability to add, subtract, multiply, and divide in all units of measure, using whole numbers, common fractions, and decimals. Ability to compute rate, ratio, and percent and to draw and interpret bar graphs.

    TECHNICAL SKILLS

    Ability to create spreadsheets in Excel. Ability to create and edit Word documents. Working knowledge of Microsoft Outlook. Ability to navigate the Internet. 10-key calculator expertise.

    REASONING ABILITY

    Ability to solve complex, sometimes technical problems and deal with a variety of concrete variables in situations where only limited standardization exists. Ability to interpret a variety of instructions furnished in written, oral, diagram, or schedule form.

    PHYSICAL DEMANDS

    The physical demands described here are representative of those that must be met by an employee to successfully perform the essential functions of this job. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.

    While performing the duties of this job, the employee is regularly required to use hands to finger, handle, or feel; reach with hands and arms; and talk or hear. The employee frequently is required to stand, walk, and sit. The employee is occasionally required to stoop, kneel, crouch, or crawl. The employee must frequently lift and/or move up to 20 pounds. Specific vision abilities required by this job include close vision, distance vision, peripheral vision, and ability to adjust focus.

    Heritage Southeast Bank provides equal employment opportunities to all employees and applicants for employment and prohibits discrimination and harassment of any type without regard to race, color, religion, age, sex, national origin, disability status, genetics, protected veteran status, sexual orientation, gender identity or expression, or any other characteristic protected by federal, state or local laws.

    This policy applies to all terms and conditions of employment, including recruiting, hiring, placement, promotion, termination, layoff, recall, transfer, leaves of absence, compensation, and training.


  5. Post your job

    There are a few common ways to find commercial lenders for your business:

    • Promoting internally or recruiting from your existing workforce.
    • Ask for referrals from friends, family members, and current employees.
    • Attend job fairs at local colleges to meet candidates with the right educational background.
    • Use social media platforms like LinkedIn, Facebook, and Twitter to recruit passive job-seekers.
    Post your job online:
    • Post your commercial lender job on Zippia to find and attract quality commercial lender candidates.
    • Use niche websites such as efinancialcareers, financialjobsweb.com, careerbank, financial job bank.
    • Post a job on free websites.
  6. Interview candidates

    To successfully recruit commercial lenders, your first interview needs to engage with candidates to learn about their interest in the role and experience in the field. You can go into more detail about the company, the role, and the responsibilities during follow-up interviews.

    Remember to include a few questions that allow candidates to expand on their strengths in their own words. Asking about their unique skills might reveal things you'd miss otherwise. At this point, good candidates can move on to the technical interview.

    The right interview questions can help you assess a candidate's hard skills, behavioral intelligence, and soft skills.

  7. Send a job offer and onboard your new commercial lender

    Once you have selected a candidate for the commercial lender position, it is time to create an offer letter. In addition to salary, the offer letter should include details about benefits and perks that are available to the employee. Ensuring your offer is competitive is vital, as qualified candidates may be considering other job opportunities. The candidate may wish to negotiate the terms of the offer, and it is important to be open to discussion and reach a mutually beneficial agreement. After the offer has been accepted, it is a good idea to formalize the agreement with a contract.

    It's also good etiquette to follow up with applicants who don't get the job by sending them an email letting them know that the position has been filled.

    Once that's done, you can draft an onboarding schedule for the new commercial lender. Human Resources should complete Employee Action Forms and ensure that onboarding paperwork is completed, including I-9s, benefits enrollment, federal and state tax forms, etc. They should also ensure that new employee files are created for internal recordkeeping.

  8. Go through the hiring process checklist

    • Determine employee type (full-time, part-time, contractor, etc.)
    • Submit a job requisition form to the HR department
    • Define job responsibilities and requirements
    • Establish budget and timeline
    • Determine hiring decision makers for the role
    • Write job description
    • Post job on job boards, company website, etc.
    • Promote the job internally
    • Process applications through applicant tracking system
    • Review resumes and cover letters
    • Shortlist candidates for screening
    • Hold phone/virtual interview screening with first round of candidates
    • Conduct in-person interviews with top candidates from first round
    • Score candidates based on weighted criteria (e.g., experience, education, background, cultural fit, skill set, etc.)
    • Conduct background checks on top candidates
    • Check references of top candidates
    • Consult with HR and hiring decision makers on job offer specifics
    • Extend offer to top candidate(s)
    • Receive formal job offer acceptance and signed employment contract
    • Inform other candidates that the position has been filled
    • Set and communicate onboarding schedule to new hire(s)
    • Complete new hire paperwork (i9, benefits enrollment, tax forms, etc.)
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How much does it cost to hire a commercial lender?

Recruiting commercial lenders involves both the one-time costs of hiring and the ongoing costs of adding a new employee to your team. Your spending during the hiring process will mostly be on things like promoting the job on job boards, reviewing and interviewing candidates, and onboarding the new hire. Ongoing costs will obviously involve the employee's salary, but also may include things like benefits.

You can expect to pay around $74,995 per year for a commercial lender, as this is the median yearly salary nationally. This can vary depending on what state or city you're hiring in. If you're hiring for contract work or on a per-project basis, hourly rates for commercial lenders in the US typically range between $25 and $49 an hour.

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