Jemmy Alarcon, AVP/Senior Commercial Loan Closer: A Spring Bank Staff Feature 

At Spring Bank, we pride ourselves on fostering a community of dedicated professionals united to serve our community with integrity, excellence, and care. One such integral team member is Jemmy Alarcon, AVP/Senior Commercial Loan Closer. She is a testament to hard work, dedication, and excellence in the banking sector.

“It was my destiny to be in banking,” Jemmy reflects. “I am so happy this path led me to Spring Bank.”

For over nine years, Jemmy has been an invaluable asset to our commercial real estate lending team. With over 20 years of experience in banking and commercial lending, her journey started in South America. Born in Ecuador and raised in Lima, Peru, Jemmy’s passion for banking was ignited early on; most of her family worked in the banking industry. She majored in accounting and auditing, finding a particular interest in auditing due to its investigatory nature.

“Auditing involves engaging research and finding hidden data,” she explains, though she also acknowledges the importance her accounting background provides in her financial career.

In Ecuador, Jemmy worked for a local bank before moving to the United States as an international student. She initially applied for a teller job but was swiftly promoted to the commercial lending team. This experience worked well with her detail-oriented personality, which is crucial for closing high-stakes deals.

“During my early years in the banking industry, I was lucky to learn from great professionals who shaped my skills and helped me gain valuable insight into the role I have now. In my field, one never stops learning,” she shares.

Jemmy’s role on our commercial lending team is multifaceted. Once loans are approved, she begins the meticulous closing process, ensuring all documentation is accurate and complete. Her role requires her to communicate complex information to borrowers, often dealing with various third parties like real estate attorneys, insurance agents, and brokers. Despite the challenges, Jemmy finds great satisfaction in her work.

“Learning how to navigate different people is a true skill. Even though it can be hectic when you close the loan, you feel satisfied at the end of the day because you know you’ve helped a small business owner,” she says.

We work hard to provide personalized support and ensure that closings happen efficiently and on time. As a community bank, we stand by communication, professionalism, and efficiency. Our goal is to help our customers as much as we can. Even if they ask questions unrelated to closing, we will always refer them to the right person. 

“Our commercial lending team is strong. We can multi-task, problem-solve, and thrive under pressure. Our clients do not go through various levels of bureaucracy to reach a real person,” shares Jemmy. “We offer every person the same level of care and respect. So, I feel very comfortable working in this space. When I go to the office, I’m surrounded by my colleagues; many of us are part of the Hispanic community. We have camaraderie and closeness to the executives. I know I can easily reach out to the manager, the president, executives, and everyone else. I really appreciate that part of working here.”

Jemmy’s contributions to Spring Bank have not gone unnoticed. She joined as a senior closer and was promoted to VP a few years ago. Looking ahead, she aspires to expand her department, bringing on more junior and senior closers and specialized experts to further streamline our lending processes. For Jemmy, every loan closed is a success because when a deal is closed, an entrepreneur takes a step forward to achieving their business goals.

“Every loan that we close is a success to me. I don’t compare small loans to bigger real estate ones because, for the borrower, that amount of money is important to their business. I feel proud of all our closings because we put the same effort into each deal regardless of the amount. If it’s important to you, it’s important to us,” she says.

Here are a few tips from Jemmy that will help borrowers better prepare for the closing process:

  • Pick the right attorney to assist you legally. Hire a real estate attorney if you are borrowing for a real estate process. This will make the process smoother than using an attorney who does not have experience or an understanding of the common closing procedures.
  • Lawyers and borrowers must provide closing items and meet requirements in a timely manner for a smooth closing process. It takes approximately 3-4 weeks to close a commercial real estate loan; however, this process can always be expedited if each party is committed to working towards the same goal.

 

Jemmy’s hard work and journey inspire us all, and she encourages more women to pursue careers in commercial lending and banking.

“Banking and lending are careers for women. If you like challenges and want a space to develop your skills, closing is for you. You will feel rewarded despite the challenges,” she says.

Discover the benefits of the Spring Bank commercial lending team and real estate program. Looking for the best savings account online or need to open a new business bank account? As one of the top banks in NY, Spring Bank offers comprehensive solutions for your financial needs. From business checking accounts to small business accounts, and even if you want to apply for a personal loan, our team is here to assist you. Contact us to learn more.