June 26, 2015
By Bob Coleman
Editor, Coleman Report
Yesterday I comfortably reported the average SBA 7(a) loan closer compensation is around $50,000.
Today, I don’t feel that righteous.
The small sample clearly shows the market pays for experience.
So, to force me to commit to a number, I’m calling it $35,000 for junior level SBA 7(a) loan servicers, and twice that number for experienced personnel who have seen it all.
Sadly, a flaw in the data set is I forgot to ask the experience question.
I’ll get it right next time. But, this could be useful to as a starting point for some.
Here’s the raw data, after discarding a few outlier responses.
- $65,000 to $80,000
- $48,000 to $72,000
- $38,688 to $44,928
- $35,484 to $55,452
- $35,000 to $55,000
- $35,000 to $50,000