Commercial Loan Officer Training Programs and Education Requirements

A bachelor's degree in finance teaches the fundamentals of accounting, business, and finance and prepares graduates for careers as commercial loan officers in the financial industry.

Essential Information

Students in finance bachelor's degree program learn to manage and invest money for businesses, corporations, government agencies, and individuals. Students are prepared for entry into the commercial loan industry by studying real estate, sales, and banking administration. A four year B.S. in Finance degree program also can help students navigate the varying state requirements for commercial loan officers. Students will need SAT scores and a high school diploma to enroll, and may have the opportunity to work in mock corporations to learn hands-on skills while in the program. Once employed in the field, commercial loan officers remain competitive by taking continuing education courses or obtaining certification through national banking organizations.


Bachelor of Science in Finance

A Bachelor of Science in Finance degree program includes studies in liberal arts in addition to business, accounting, and sales courses. These courses teach students how to analyze financial reports and markets, as well as how to market themselves, their companies, and their products. Students also learn about ethics, management, and legal issues in the finance industry. Some common courses in this degree program might include:

  • Macroeconomics
  • Statistics
  • Marketing
  • Finance management
  • Banking

Employment Outlook and Salary Info

Loan officers often act as salespeople, locating potential clients, determining their financial needs and guiding them through the loan process. They analyze financial records and credit histories, prepare loan documents, and submit loan packages to potential lenders.

According to the U.S. Bureau of Labor Statistics (BLS), loan officers held about 303,200 jobs in the United States in 2014, and this number was projected to grow by 8% between 2014 and 2024 (www.bls.gov). The median annual salary for a loan officer in May 2015 was $63,430.

Continuing Education Information

The Bank Administration Institute (www.bai.org) offers a series of continuing education courses that lead to a loan review certificate. The program consists of courses with topics that include loan administration, risk assessment and regulatory guidelines. Students must have two years of professional experience and pass a 150-question examination to qualify for the certificate.

Loan officers can also obtain certification through the Mortgage Bankers Association (www.mbaa.org), which offers Certified Mortgage Banker certification in residential and commercial real estate finance. Loan officers with at least three years of professional experience qualify for the master certification.

Students can also continue their education through master's and doctoral degrees in business administration and finance. These degrees may enhance a loan officer's employment opportunities and earning potential.

Commercial loan officers receive the necessary training to enter the field by enrolling in a bachelor's degree program in finance. These programs qualify students for professional certification from many organizations and prepare them for graduate degrees.

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