Loan Administrator

Provide administrative support to the loan department of a bank.
picture of Loan Administrator

Quick Stats

Salary Range
$31,000 – $112,000

Data from U.S. Department of Labor

What do Loan Administrators do?

In a bank, the Loan Administrator is the person responsible for investigating potential borrowers and determining their eligibility for a loan. If a client has bad credit history, a traditional loan might not be an option, so you find them an alternative solution. Once you’ve found a loan as the Loan Administrator, you explain it to your client, and then you establish a repayment plan.

You may also be asked to do some sales when you’re a Loan Administrator. This involves seeking out clients who need loans, and arranging meetings so you can secure their business.

In addition to this hands-on loan work, you provide secretarial support to the senior Loan Officer (in particular), and the Loan Department (in general). In this role, you gather data, write various reports, collect loan files, coordinate meetings, and perform other clerical and administrative tasks.

Sure, you have to deal with customer complaints, delinquent loan payments, and other financial headaches and deadlines on a daily basis. But you also get to work with applicants closely, and help them identify as well as reach their goals. Stressful, no doubt, but rewarding.

Should I be a Loan Administrator?

You should have a bachelor's degree or higher and share these traits:
  • Calm Under Pressure: You keep your cool when dealing with highly stressful situations.
  • Ready for a Challenge: You jump into new projects with initiative and drive.
  • High Achiever: You love the challenge of tackling difficult work.

  • Also known as: Financial Aid Administrator, Loan Auditor, Loan Coordinator, Loan Originator

    How to become a Loan Administrator

    Loan Administrators often have a Bachelor's degree. Chart?chd=s:vxx9aa&chl=no+college+%2826%25%29|certificate+%2827%25%29|associate%27s+%2813%25%29|bachelor%27s+%2834%25%29||&cht=p3&chs=466x180&chxr=0,26,34
    Schools close to

    You May Also Like

    Careers Similar to Loan Administrator