Avg. Base Salary (USD)
The average salary for a Loan Officer, Commercial is $75,271
What is the Pay by Experience Level for Loan Officer, Commercials?
An entry-level Loan Officer, Commercial with less than 1 year experience can expect to earn an average total compensation (includes tips, bonus, and overtime pay) of $48,276 based on 20 salaries. An early career Loan Officer, Commercial with 1-4 years of experience earns an average total compensation of $62,852 based on 174 …Read more
What Do Loan Officer, Commercials Do?
A commercial loan officer works with current business clients and individuals looking to start small businesses. Much of the loan officer's duties entail maintaining and administering these loan accounts for the bank, following standard procedures and protocols.
A commercial loan officer is typically expected to help generate new business and accounts as well, however. For the loan officer, that means networking and making sure that the loan and credit services of the bank are publicized and …Read more
- Develop, maintain, and grow the commercial loan portfolio of private loan companies, government agencies, and non-profit organizations.
- Solicit new business by developing marketing strategies.
- Oversee handling of advances, payments, and wire transfers.
- Negotiate credit terms, and prepare credit analysis and repayment plan for approvals.
- Interview, consult, accept, analyze credit of, and perform credit reviews of potential borrowers.