Top 10 Commercial Lender Certifications

Certifications for a commercial lender in the job market are important because they demonstrate a level of expertise and knowledge that many employers look for when hiring. By obtaining certifications, commercial lenders can prove to potential employers that they have the necessary skills and understanding of the industry to be successful in the job. Certifications also help job seekers stand out from other applicants as they demonstrate an understanding and commitment to their profession. Additionally, certifications provide an opportunity for lenders to continually improve their knowledge and skills base as well as stay up-to-date on industry news and trends. Lastly, certifications may be a requirement for certain positions or promotions within many organizations, so having them can give commercial lenders a competitive edge over those who do not have them.

This article reviews the top certifications for Commercial Lenders and explains how they can help advance a Commercial Lender's career.

What are Commercial Lender Certifications?

Commercial lender certification is a type of professional credential that demonstrates expertise in the commercial lending industry. It is typically awarded to individuals who have completed a specialized program of study, such as a master's degree or an executive certificate, and who have passed an exam. Commercial lender certification can be beneficial for those working in the banking industry, as it demonstrates knowledge of commercial lending practices and provides recognition within the field. Additionally, having this certification may lead to better job opportunities or promotion prospects, as it shows employers that an individual has advanced knowledge of commercial lending principles. Furthermore, obtaining commercial lender certification can also help individuals stay updated on the latest trends and developments in the banking sector, allowing them to remain competitive in their position.

Pro Tip: Make sure to check that your commercial lender is certified by a reputable organization before signing any loan documents. This will ensure that the lender has met all of the necessary requirements to legally provide loans and has been properly vetted. Additionally, looking for certifications from well-known organizations like the U.S. Small Business Administration or the National Association of Mortgage Brokers can help you feel confident that you are working with a reliable and trustworthy lender.

Related: What does a Commercial Lender do?

Top 10 Commercial Lender Certifications

Here’s our list of the best certifications available to Commercial Lenders today.

1. Certified Commercial Loan Officer (CCLO)

Certified Commercial Loan Officer (CCLO) is a professional certification program offered by the National Association of Commercial Finance Brokers (NACFB). It is designed to provide commercial loan officers with the knowledge, skills and credentials necessary to succeed in the industry.

The CCLO certification program consists of three courses: Introduction to Commercial Lending, Advanced Commercial Lending and Professional Practices in Commercial Lending. The program takes approximately six months to complete, although this can vary depending on an individual's pace.

To obtain the CCLO designation, applicants must have at least two years of experience in commercial lending or related fields, pass all three courses with a minimum grade of 70%, and submit a portfolio demonstrating their knowledge and experience.

The cost for the CCLO certification program is $1,295 USD. This includes access to all three courses, online materials and resources, as well as access to NACFB’s online community where students can interact with other professionals in the industry.

2. Certified Mortgage Banker (CMB)

Certified Mortgage Banker (CMB) is a professional designation awarded by the Mortgage Bankers Association (MBA) to recognize individuals who have demonstrated a high level of knowledge and expertise in the mortgage banking industry. The CMB designation is highly sought after by those working in the mortgage banking industry, as it demonstrates an individual's commitment to professional excellence and their dedication to staying up-to-date on the latest trends and developments in the field.

In order to obtain a CMB designation, individuals must complete a rigorous program of study that includes courses in mortgage banking fundamentals, secondary market finance, legal issues, loan origination and servicing, financial analysis, and other related topics. Upon completion of this program, candidates must pass an exam administered by the MBA. The exam consists of multiple choice questions covering a wide range of topics related to mortgage banking.

The CMB program typically takes between 18 months and 2 years to complete depending on how much time an individual has available for studying. It is possible to complete the program more quickly or take longer if necessary.

In order to become certified, individuals must pay an application fee as well as fees for each course taken during the program. The total cost will vary depending on how many courses are taken but typically ranges from $2,000-$4,000 USD.

Once certified, individuals must maintain their certification by completing continuing education requirements every two years in order to stay current with changes in the industry.

3. Certified Financial Services Auditor (CFSA)

A Certified Financial Services Auditor (CFSA) is an individual who has achieved a specialized credential in the field of financial services auditing. This certification is offered by the Institute of Internal Auditors (IIA) and is designed to help professionals demonstrate their knowledge and proficiency in the area of financial services auditing.

To become a CFSA, you must have at least three years of experience in financial services audit or related work, and you must pass the CFSA exam. The exam consists of multiple-choice questions that test your knowledge of financial services audit topics such as risk assessment, internal control systems, compliance with regulations and standards, and fraud prevention.

The process to become a CFSA typically takes about six months from start to finish. First, you must complete an application form with the IIA and pay the associated fees. Once your application is approved, you will be given access to study materials which include practice tests and other resources to help prepare for the exam. You can then schedule your exam date with Pearson VUE or Prometric testing centers. After passing the exam, you will receive your CFSA certificate within two weeks.

The cost for becoming a CFSA varies depending on where you live and how long it takes for you to complete all requirements for certification; however, it typically costs around $1,000-$2,000 USD including application fees, study materials, registration fees for the exam, and any other associated costs.

4. Chartered Financial Analyst (CFA)

Chartered Financial Analyst (CFA) is a professional designation given by the CFA Institute, a global association of investment professionals. The CFA is widely recognized as the premier credential for investment professionals and is held by over 150,000 individuals in more than 160 countries.

The CFA Program consists of three levels of examinations that must be completed sequentially. Each exam tests the candidate’s knowledge and understanding of various aspects of finance, economics, accounting, portfolio management, and ethical and professional standards. Candidates must pass all three exams to become a CFA charterholder.

It typically takes four years to complete the entire program: one year to prepare for each exam. During this time, candidates must also meet certain work experience requirements and adhere to the CFA Institute Code of Ethics and Standards of Professional Conduct.

The cost of taking all three exams varies depending on where you live and when you register. Generally speaking, it costs around $2,000 USD to take all three exams. This includes registration fees for each level as well as study materials such as textbooks and practice questions.

5. Certified Credit Executive (CCE)

Certified Credit Executive (CCE) is a professional designation for credit and financial professionals. The CCE designation recognizes individuals who have demonstrated mastery of the knowledge, skills, and abilities necessary to effectively manage credit operations in today’s complex business environment.

It typically takes three years to complete the requirements for the CCE designation. To qualify, applicants must meet certain educational and experience requirements as well as pass an exam. Applicants must also demonstrate their commitment to continued professional development by completing at least 30 hours of continuing education credits every three years.

To get the CCE designation, applicants must first submit an application with documentation of their educational background and work experience. Once approved, they will be required to take a comprehensive exam that covers topics such as credit risk management, financial analysis, legal issues, and customer service.

The cost for the CCE program varies depending on the organization offering it but typically ranges from $500-$1,000 USD. This includes registration fees for the exam as well as any additional materials needed for study purposes.

6. Accredited Commercial Lender (ACL)

Accredited Commercial Lender (ACL) is a designation given to individuals who have completed a specialized program in commercial lending. The program is designed to provide comprehensive training on the principles and practices of commercial lending, including loan origination, underwriting, structuring, documentation, and closing.

The program typically takes between six months and one year to complete. It consists of both classroom instruction and hands-on experience in the field. Students are required to pass several exams in order to receive their ACL designation.

To become an ACL, individuals must first earn a bachelor’s degree from an accredited college or university with a major in finance or economics. After completing their degree, they must then apply for admission into an accredited commercial lending program. Once accepted into the program, students will complete coursework that covers topics such as financial statement analysis, credit risk assessment, loan structuring and negotiation, regulatory compliance, and portfolio management.

The cost of the ACL program varies depending on the institution offering it. Generally speaking, it can range anywhere from $2,000-$10,000 USD depending on the length of the program and any additional fees associated with it.

Once an individual has successfully completed all requirements for the ACL designation they can use it as a way to demonstrate their knowledge of commercial lending practices and increase their marketability when seeking employment opportunities within the banking industry or other related fields.

7. Certified Treasury Professional (CTP)

Certified Treasury Professional (CTP) is a certification offered by the Association for Financial Professionals (AFP). It is designed to recognize professionals in the treasury and finance industry who have achieved a high level of expertise in their field. The CTP designation is considered the gold standard of excellence in treasury and finance, and it demonstrates an individual’s commitment to professional development and mastery of the core competencies required to excel in this field.

To obtain the CTP designation, individuals must pass a comprehensive exam that covers topics such as cash management, investments, risk management, international finance, corporate finance, financial analysis and reporting, financial instruments, and regulations. The exam consists of 150 multiple-choice questions that must be completed within three hours.

In order to qualify for the CTP exam, applicants must have at least two years of professional experience in treasury or finance-related roles. Additionally, they must submit proof of their educational background and/or training related to treasury or finance topics.

The cost for taking the CTP exam is $450 for members of AFP or $550 for non-members. After passing the exam, individuals are awarded with a Certified Treasury Professional certificate and may use the CTP designation after their name.

8. Certified Credit Risk Professional (CCRP)

The Certified Credit Risk Professional (CCRP) is a professional certification program designed to recognize individuals who have demonstrated expertise in credit risk management. The CCRP credential is administered by the Global Association of Risk Professionals (GARP).

To qualify for the CCRP, applicants must have at least three years of professional experience in credit risk management and/or related fields, such as banking, finance, or economics. Applicants must also pass an online exam that covers topics such as financial analysis, credit risk assessment, and portfolio management.

The exam takes approximately two hours to complete and consists of multiple-choice questions. It costs $395 USD to take the exam. After passing the exam, applicants will receive their CCRP designation and will be eligible for membership in GARP's Credit Risk Professional Network.

The CCRP designation is valid for three years from the date of issuance. To maintain the credential after this period, individuals must complete continuing education credits or retake the exam every three years.

9. Certified Public Accountant (CPA)

A Certified Public Accountant (CPA) is a professional designation given to an individual who has met the requirements set by their state’s board of accountancy. CPAs are licensed to provide a variety of services, including auditing, tax preparation, and financial consulting. To become a CPA, you must meet certain educational, experience, and examination requirements set by your state's board of accountancy.

In most states, the educational requirement for becoming a CPA is 150 semester hours of college coursework with at least 24 semester hours in accounting-related courses. In addition to completing the required coursework, applicants must also pass the Uniform CPA Examination administered by the American Institute of Certified Public Accountants (AICPA). The exam consists of four sections: Auditing and Attestation; Business Environment and Concepts; Financial Accounting and Reporting; and Regulation.

The amount of time it takes to complete all the requirements for becoming a CPA can vary depending on your individual circumstances. Generally speaking, it can take anywhere from one year to five years or more depending on how much coursework you need to complete before taking the exam as well as how long it takes you to pass all four sections of the exam.

To get started on your path to becoming a CPA, you should contact your state's board of accountancy for specific information about their licensing requirements. You will also need to register with AICPA in order to take the Uniform CPA Examination. The cost for registering with AICPA is $250 plus any applicable taxes or fees associated with taking the exam in your state.

10. Certified Cash Manager (CCM)

Certified Cash Manager (CCM) is a professional designation offered by the Institute of Financial Operations (IFO). It is designed to recognize individuals who demonstrate a high level of expertise in cash management and treasury operations. The program provides an understanding of the fundamentals of cash management, as well as the ability to analyze and interpret financial data.

The CCM program consists of four courses: Cash Management Principles, Cash Flow Analysis, Treasury Risk Management, and Investment Strategies. Each course is offered online or in-person at IFO's training centers around the world. The program takes approximately two months to complete, depending on how quickly you complete each course.

To get certified, you must pass all four courses with a minimum grade of 70%. After completing the program, you will receive your CCM certificate from IFO.

The cost for the program varies depending on whether you take it online or in-person. Online courses typically range from $1,000 to $2,500 while in-person courses are usually more expensive and can cost up to $4,000 or more.

Do You Really Need a Commercial Lender Certificate?

When it comes to getting a business loan, having a commercial lender certificate can provide you with certain advantages that may not be available to those without one. A commercial lender certificate demonstrates that you have taken the time and effort to understand the nuances of commercial lending. This shows potential lenders that you are serious about your business and have done your homework.

Having a commercial lender certificate also indicates that you have received specialized training in commercial lending and understand the risks associated with it. It can also demonstrate to lenders that you understand the laws and regulations governing banking and how they affect lending decisions. Having this knowledge can give you an edge over other applicants when applying for a loan or financing.

Finally, having a commercial lender certificate shows potential lenders that you are knowledgeable about the industry and have the necessary skillset to handle complex transactions. With this certification, lenders may be more willing to work with you as they feel more secure knowing that someone has taken the time to understand their processes and procedures.

In conclusion, while having a commercial lender certificate is not required in order to get a business loan, it can give applicants an advantage over those who do not possess this certification. The knowledge gained through such education provides applicants with greater insight into how businesses operate, as well as understanding what lenders are looking for when making decisions on loans and financing requests.

Related: Commercial Lender Resume Examples

FAQs About Commercial Lender Certifications

Q1: What is a commercial lender certification?

A1: A commercial lender certification is a professional designation that recognizes an individual’s expertise in the field of commercial lending. It typically requires passing an exam and completing continuing education courses.

Q2: Who should pursue a commercial lender certification?

A2: Commercial lenders, credit analysts, loan officers, and other financial professionals who are involved in the commercial lending process can benefit from obtaining a certification.

Q3: How does one obtain a commercial lender certification?

A3: To obtain a commercial lender certification, individuals must pass an exam administered by an accredited organization such as the National Association of Commercial Finance Brokers (NACFB). The requirements to sit for the exam vary by organization.

Q4: What topics are covered on the exam?

A4: The topics covered on the exam include topics related to credit analysis, portfolio management, loan structuring, risk management, and legal/regulatory issues.

Q5: How often do I need to renew my certification?

A5: Most certifying organizations require you to renew your certification every two or three years. Renewal typically involves completing continuing education credits or taking an updated version of the original exam.