Loan officers evaluate, authorize, or recommend approval of loan applications for people and businesses.
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Print Occupation
- Loan Officers
Finance
What do they typically do
- Contact companies or people to ask if they need a loan
- Meet with loan applicants to gather personal information and answer questions
- Explain different types of loans and the terms of each one to applicants
- Obtain and verify financial information, such as the applicant's credit rating and income level
- Evaluate the applicant's finances to decide if the applicant should get the loan
- Approve loan applications or refer them to management for a decision
- Keep up to date on new types of loans and other financial services and products to better meet customers' needs
- Submit applications to credit analysts for verification and recommendation
Number of Jobs
Average Annual
Job Growth
+1.4%
Job Opening
1,347
Education & Training
- Education Most occupations require training in vocational schools, related on-the-job experience, or an associate's degree.Associated Programs or MajorsLicense
Private Training Programs
13606
15356
Change 1750
Video:Loan Officers
Video provided CareerOneStop. CareerOneStop is sponsored by the U.S. Department of Labour, Employment and Training Administration and the Minnesota Department of Employment & Economic Development.