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Lending in its most universal sense is the temporary granting of money or property to people with the anticipation that it will be given back. In a financial setting, lending consist several types of commercial loans which include credit card financing, asset financing for equipment and machinery, mortgages, bank financing for small business start-up and working capital, and personal loans. Lending jobs involve the provision of services to borrowers by examining the recipients’ situation and proposing programs that are suitable for them.  Commercial lending jobs have to do with the distribution of loans and acquisition of collaterals in return which can be in the form of assets and other ownerships that the borrower might have.

A lot of people want to establish careers in the lending sector as the salary is much higher compared to other jobs. There is also a great chance of getting commission on deals that they close.

Among the avenues for individuals looking for lending jobs are private lending companies, banks and various financial institutions.

Here are some of the possible careers and positions in a lending company:

1.      Commercial loan officer – He is responsible in examining how real, capable and financially stable the client wishing to secure the loan is. He communicates with the clients and explains to them all the particulars of the loan, as well as its terms and conditions. He also provides financial services to customers.

2.      Commercial loan workout officer – He works on the maintenance, security and sale of real estate incurred through foreclosure and deals with renegotiating terms and conditions of loans. He also handles problems that will likely arise in commercial lending and collects commercial loans.

3.      Outside retail loan officer – His work involves building a firm relationship with various commercial property owners. This will bring forth commercial mortgage loans.

4.      Commercial banking officer – He is responsible in the preparation of written documents and oral demonstrations concerning loans. He is also accountable for acquiring referrals from various individuals.

5.      Special assets officer – He deals with the management of problems that might occur in loans. He handles the largest and most complicated real estate, commercial and consumer loan portfolio. In addition, special assets officer works closely with possible borrowers, lawyers and companies.

These are just some of the lending jobs available in the financial services industry. To qualify for these jobs, interested parties must have the ability to work with different types of people and must be able to deal with them. It is an advantage if applicants are computer savvy and knowledgeable of the fundamental computer operations.  Becoming a lending officer can best be acquired by having a bachelor’s degree which can be in a subject like economics and business. Aspiring applicants may also consider working in banks as a loan officer, considering a master’s degree, accomplishing years of managerial experience and considering certifications. Having a Masters of Business Administration (MBA) provides individuals further knowledge on accounting, financing, researching, managing and marketing. It is helpful for applicants to have voluntary certifications and designations on their resumes since many employers require such. More importantly, being in the business can be a satisfying job as lending employees are able to aid people in need while earning money for themselves.

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