The average salary for a Loan Officer, Commercial in Chicago, Illinois is $68,415.
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$41k - $88k
$604 - $11k
$41k - $99k
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Job Description for Loan Officer, Commercial
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 in…Read more
Loan Officer, Commercial Tasks
- 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.
Explore the most common career paths for Loan Officer, Commercial. Thickness and color of lines indicates popularity of movement from one job to the next. Visit our career path planner to research other job paths.
Loan Officer, Commercial
More common (> 20%)
Somewhat common (8 - 20%)
Less common (< 8%)
Loan Officer, Commercial Job Listings
Popular Skills for Loan Officer, Commercial
Skills in Portfolio Management and Sales are correlated to pay that is above average. Skills that pay less than market rate include Loan Underwriting.
Pay by Experience Level for Loan Officer, Commercial
An early career Loan Officer, Commercial with 1-4 years of experience earns an average total compensation (includes tips, bonus, and overtime pay) of $67,753 based on 9 salaries. A mid-career Loan Officer, Commercial with 5-9 years of experience earns an average total compensation of $66,500 based on 5 salaries.
Pay Difference by Location
Learn more about cost of living by city.
Employees with Loan Officer, Commercial in their job title in Dallas, Texas earn an average of 31.6% more than the national average. These job titles also find higher than average salaries in Nashville, Tennessee (28.0% more) and Boston, Massachusetts (18.3% more). The lowest salaries can be found in Columbus, Ohio (27.1% less) and Los Angeles, California (5.0% less).
Years of Experience
This data is based on 14 survey responses.
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