Commercial loan reviewer skills for your resume and career

A lender is a financial institution, an individual, a private or public group, that offers funds to a business or person with the condition and expectation that these funds must be repaid. Repayment will also include the payment of interest or fees. Lenders have detailed guidelines to verify the ability to repay a loan and creditworthiness. They established the interest rate, repayment schedule, terms, and other key aspects of the money being borrowed.

Small Business Administration or SBA refers to a government agency that offers assistance to small businesses. They work with individuals starting or growing their businesses. The agency has a website that contains various tools such as training programs and business plans to help small businesses.

Financial Institutions come in all sizes, forms, and are meant for all sorts of purposes. Some only keep money, some only trade it, some focus on extending loans, some work with only other financial corporations or regular business and companies, and some are built to be useful and multi-purpose. A central bank, for example, is a banking institution meant to keep an eye on other banks and ensure that no laws or rules are broken or bent.

UCC standing for Uniform Commercial Code is a set of laws and regulations concerning commercial transactions (such as sales of goods). It's not federal law but a uniformly adopted state of law covering security interests. The UCC also aims to provide consistency and clarity across the country. And because the UCC is a universally adopted law, businesses can enter into contracts with confidence. The resulting certainty of business relationships allows the economy to thrive and business to grow.