Commercial Loan

What does a Commercial Loan Officer do?
A Commercial Loan Officer is responsible for soliciting and servicing a variety of commercial loans and interviews applicants and recommends approval of customer applications for commercial loans. A Commercial Loan Officer also analyzes applicant financial status and credit to determine feasibility of granting loans. This position approves loans within established limits or refers loans to a loan committee for approval.

How do you prepare?
To become a Commercial Loan Officer, a bachelor’s degree is required and 1-3 years of experience in the field or in a related area.

What’s the pay like?
As a Loan Officer in Iowa you can expect to earn approximately $57,090 a year, according to Iowa Workforce Development.

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