How to hire a commercial loan officer

How to hire a commercial loan officer, step by step

Here's a step-by-step commercial loan officer 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 loan officer job description
• Step 5: Post your job
• Step 6: Interview candidates
• Step 7: Send a job offer and onboard your new commercial loan officer
• Step 8: Go through the hiring process checklist

What does a commercial loan officer do?

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1. Identify your hiring needs

   First, determine the employments status of the commercial loan officer you need to hire. Certain commercial loan officer roles might require a full-time employee, whereas others can be done by part-time workers or contractors.

   Determine employee vs contractor status

   Is the person you're thinking of hiring a US citizen or green card holder?

   Yes

   No

   You should also consider the ideal background you'd like them a commercial loan officer 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 loan officer that fits the bill.

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

   Type of Commercial Loan Officer	Description	Hourly rate
   Commercial Loan Officer	Loan officers evaluate, authorize, or recommend approval of loan applications for people and businesses.	$24-48
   Mortgage Banker	A 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
   Mortgage Consultant	A mortgage consultant is a professional who helps customers and businesses identify the best option for mortgage deals based on their financial resources. To maintain an excellent relationship with clients, mortgage consultants must possess a broad knowledge of the company's products to answer all the clients' queries and concerns... Show more	$11-30

   Show more

2. Create an ideal candidate profile

   Common skills:

   • Customer Service
   • Loan Portfolio
   • Financial Statements
   • Business Development
   • Commercial Loans
   • Bank Products
   • Loan Documentation
   • Business Relationships
   • Bank Policies
   • Credit Analysis
   • Bank Secrecy Act
   • SBA
   • Financial Analysis
   • Real Estate Loans

   Check all skills

   Responsibilities:

   • Create and manage mortgage loan department along with commercial consumer, SBA and real estate lending producing additional revenue stream.
   • Manage a multifacete commercial real estate investment firm.
   • Mortgage underwriter for FHA direct endorsement, VA authorize & FNMA delegate programs.
   • Sign and issue payroll checks to contractors hire to complete REO projects.
   • Secure new loans, investment accounts, treasury management products and depository accounts.
   • Compile figures for sales amount prior to selling real estate own (REO).

   More commercial loan officer duties

3. Make a budget

   Including a salary range in your commercial loan officer job description is one of the best ways to attract top talent. A commercial loan officer can vary based on:

   • Location. For example, commercial loan officers' average salary in mississippi is 44% less than in maine.
   • Seniority. Entry-level commercial loan officers 50% less than senior-level commercial loan officers.
   • Certifications. A commercial loan officer with certifications usually earns a higher salary.
   • Company. Working for an established firm or a new start-up company can make a big difference in a commercial loan officer's salary.

   Average commercial loan officer salary

   $70,876yearly

   $34.08 hourly rate

   ---

   Entry-level commercial loan officer salary

   $50,000 yearly salary

   Updated December 15, 2025

   Average commercial loan officer salary by state

   Rank	State	Avg. salary	Hourly rate
   1	New Jersey	$82,570	$40
   2	Massachusetts	$82,385	$40
   3	Maryland	$80,235	$39
   4	New York	$77,805	$37
   5	Minnesota	$76,966	$37
   6	Oregon	$75,753	$36
   7	Iowa	$74,633	$36
   8	Colorado	$73,055	$35
   9	South Dakota	$72,366	$35
   10	Florida	$71,639	$34
   11	Montana	$70,733	$34
   12	Wisconsin	$66,975	$32
   13	Michigan	$66,966	$32
   14	Missouri	$61,436	$30
   15	Texas	$61,373	$30
   16	California	$60,625	$29
   17	Arizona	$57,195	$28
   18	Illinois	$52,759	$25
   19	Indiana	$52,426	$25

   Average commercial loan officer salary by company

   Company

   Rank	Company	Average salary	Hourly rate	Job openings
   1	Glacier Ban	$83,361	$40.08
   2	University of Kentucky Federal Credit Union	$82,211	$39.52
   3	TD Bank	$81,097	$38.99	44
   4	Home Bancshares Inc.	$80,505	$38.70
   5	Carolina Farm Credit	$78,106	$37.55
   6	GPAC	$77,320	$37.17
   7	Farm Credit System	$75,622	$36.36	25
   8	Citizens Bank of Amsterdam	$74,669	$35.90
   9	MRI The Boston Group	$74,630	$35.88
   10	Evertec	$73,392	$35.28
   11	Affinity Credit Union	$72,502	$34.86	5
   12	Old Second Bank	$72,267	$34.74	3
   13	Alaska USA	$71,645	$34.44
   14	Recruiting Solutions	$71,599	$34.42
   15	Comerica	$70,062	$33.68	7
   16	MIDFLORIDA Credit Union	$69,220	$33.28
   17	Fidelity Bank & Trust	$67,915	$32.65	1
   18	Cathay Bank	$67,497	$32.45	18
   19	Southside Bank	$67,240	$32.33	14
   20	Management Recruiters International(MRI)	$66,207	$31.83	88

4. Writing a commercial loan officer job description

   A job description for a commercial loan officer role includes a summary of the job's main responsibilities, required skills, and preferred background experience. Including a salary range can also go a long way in attracting more candidates to apply, and showing the first name of the hiring manager can also make applicants more comfortable. As an example, here's a commercial loan officer job description:

   Commercial loan officer job description example

   At Beehive FCU, our common goal is to nurture our most valued asset: the friendships we have with our members. We are here to helpit's the only reason we exist. We believe we have the power to help our members with some of the most important, most difficult, and most rewarding endeavors in their lives.
   
   Our success starts with creative and caring individuals who work together to bring superior service to our members. We hire only the best and brightest, give them a great place to work, and provide an excellent benefits package.
   
   If you are someone who is passionate about helping people with real life needs, then Beehive FCU may be the place for you.
   
   Full-Time Commercial Loan Officer at our Meridian, Idaho Branch. Originates, manages and supervises the Credit Union's portfolio of commercial loans, with overall objective of maintaining and increasing its asset quality; to develop new and existing business relationships.
   Job Description
   Takes applications for commercial loan business. Reviews member financial condition and assesses the member's ability to re-pay the loan. Makes underwriting decisions within approval authority. Completes or directs completion of all loan documents and closes loans. Participates in developing lending and deposit business for the Credit Union. Calls on clients to expand existing business; calls on prospects seeking opportunities to expand the Credit Union's client base. Monitors existing loan portfolio to maintain a high-quality asset base. Maintains up-to-date member files including current balance sheets, profit and loss statements, cash flow projections and all loan documentation. Assists in collection of past due loans. Assists members with any loan-related questions and concerns. Will actively engage in needs-based selling. Performs other job related duties as assigned.
   Qualifications and Skills
   Three to five years of similar or related experience required. A bachelor's degree or formal certifications recognized in the industry as equivalent to a bachelor's degree. Work involves much personal contact with others inside and/or outside the organization for the purpose of first-level conflict resolution, building relationships, and soliciting cooperation. Discussions involve a higher degree of confidentiality and discretion, requiring diplomacy and tact in communication. Motivating and influencing others is a material part of the job. Must have experience in analyzing business financial statements and assessing the viability of businesses; must have excellent communication and PR skills Ability to use industry software.
   Benefits
   
   Full-time employee benefits include paid holidays; employer sponsored 401(k) retirement plan including 2% company match and 9% profit sharing; health, vision, and dental insurance with 95% employer paid premium and 65% employer paid premium for families; employer paid life insurance; plus the opportunity to work in an excellent team-oriented environment. You'll love working at Beehive!
   
   Beehive Federal Credit Union is a member-owned, not-for-profit organization founded in 1960. Headquartered in Rexburg, Idaho, Beehive is a full-service credit union serving members and employees of The Church of Jesus Christ of Latter-day Saints nationwide. Branches are located in Rexburg, Rigby, Idaho Falls, and Meridian, Idaho. Beehive Federal Credit Union is an Equal Opportunity/Affirmative Action Employer of Females/Minorities/Vets/Disability.

   Copy this example

   

5. Post your job

   To find commercial loan officers for your business, try out a few different recruiting strategies:

   • Consider internal talent. One of the most important talent pools for any company is its current employees.
   • Ask for referrals. Reach out to friends, family members, and your current work to ask if they know any commercial loan officers they would recommend.
   • Recruit at local colleges. Attend job fairs at local colleges to recruit entry-level commercial loan officers with the right educational background.
   • Social media platforms. LinkedIn, Facebook, and Twitter have more than 3.5 billion users, and they're a great place for company branding and reaching potential job candidates.

   Post your job online:

   • Post your commercial loan officer job on Zippia to find and recruit commercial loan officer candidates who meet your exact specifications.
   • Use field-specific websites such as efinancialcareers, financialjobsweb.com, careerbank, financial job bank.
   • Post a job on free websites.

6. Interview candidates

   During your first interview to recruit commercial loan officers, engage with candidates to learn about their interest in the role and experience in the field. During the following interview, you'll be able to go into more detail about the company, the position, and the responsibilities.

   It's also good to ask about candidates' unique skills and talents. You can move on to the technical interview if a candidate is good enough for the next step.

   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 loan officer

   Once you've decided on a perfect commercial loan officer candidate, it's time to write an offer letter. In addition to salary, it should include benefits and perks available to the employee. Qualified candidates may be considered for other positions, so make sure your offer is competitive. Candidates may wish to negotiate. Once you've settled on the details, formalize your agreement with a contract.

   It's equally important to follow up with applicants who don't get the job with an email letting them know that the position has been filled.

   To prepare for the new commercial loan officer first day, you should share an onboarding schedule with them that covers their first period on the job. You should also quickly complete any necessary paperwork, such as employee action forms and onboarding documents like I-9, benefits enrollment, and federal and state tax forms. Finally, Human Resources must ensure a new employee file is created for internal record keeping.

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 loan officer?