Job Description
Job Description
Benefits :
- Simple IRA Matching
- Simple IRA
- Health insurance
- Paid time off
Commercial Loan Officer - CDFI (Community Development Financial Institution)
Summary
The Commercial Loan Officer at a Community Development Financial Institution (CDFI) has a crucial role in providing financial products and services to underserved communities and individuals. This position involves a blend of financial expertise, relationship building, and commitment to social impact. Candidates must have a passion for community and economic development and a thorough knowledge of U.S. Treasury and Small Business Administration regulations and policies. Salary commensurate with experience ranging from $50,000 to $65,000.
Responsibilities
Business Development and Outreach :Identifying and cultivating new lending opportunities in underserved markets.
Building relationships with community leaders, businesses, and referral partners.Promoting the CDFI's loan services, products, and business resources.Representing the CDFI at community events and engaging in outreach activities.Loan Origination and Underwriting :Interviewing prospective borrowers and assessing their creditworthiness.
Gathering and analyzing financial statements, tax returns, and other relevant documentation.Performing credit analysis, cash flow analysis, and collateral evaluation.Structuring and negotiating loan terms, preparing detailed loan proposals, and presenting recommendations to the loan committee.Ensuring compliance with lending policies, procedures, and regulatory requirements.Client Relationship Management and Support :Guiding borrowers through the application process and providing financial education and technical assistance.
Collaborating with technical assistance staff to help businesses develop and grow.Monitoring loan performance and assisting with collection efforts when necessary.Maintaining accurate records of loan applications and borrower information.Compliance and Reporting :Ensuring adherence to lending regulations and internal loan policies.
Tracking loan performance metrics and generating reports on lending activities and impact.Working with internal teams to ensure a seamless funding experience for clients.Identifying opportunities to establish relationships and increase engagement with potential borrowers and external stakeholders to further our mission and deepen our impact with a focus on historically underrepresented communities.Representing the organization in public forums, facilitating community outreach efforts, and collaborating with community leaders and partners.o Working in tandem with in-house Technical Assistance Specialist to provide small business enterprises with opportunities to acquire access to technical assistance in areas such as marketing, finance, management, and strategic planning.
Qualifications
Bachelors degree in Finance, Business, or a related field; MBA or advanced degree preferred.Minimum 7 years of progressive experience in commercial lending, including significant experience with SBA loan programs; ideally at a community development financial institution, a commercial bank or other financial institution.Knowledge, skills, and abilities :
Deep knowledge of SBA and CDFI loan programs, policies, procedures and regulations as well as traditional and alternative loan programs is beneficial. Knowledge of federal and state lending regulations.Strong financial and analytical skills and the ability to develop and interpret financial statements applied to business accounting and finance principles are required.Must be proficient in Windows-based software.Ability to travel to visit prospective and current clients as necessary.Strong commitment to community and economic development idealsStrong interpersonal skills and proven ability to work effectively with a wide variety of people and organizations, and in racially, ethnically and socioeconomically diverse environments.High degree of self-motivation, creativity and flexibility in face fast-paced environment.The ability to collaborate, problem-solve, and manage multiple projects.