Job description

At Saugatuck Funding, we specialize in offering tailored lending services designed to meet the unique needs of merchants across various industries. Whether you're a small startup or an established enterprise, we are here to support your business goals with flexible and reliable funding options.

Our team consists of seasoned professionals who are passionate about empowering entrepreneurs and businesses. We believe in fostering strong relationships built on trust, transparency, and integrity. When you choose Saugatuck Funding, you can be confident that you're working with a partner that has your best interests at heart.

We take pride in our comprehensive suite of financial solutions, including merchant cash advances, lines of credit, equipment financing, and more. Our expert advisors will work closely with you to understand your business objectives and provide personalized financing solutions that align with your specific requirements. We believe that every business deserves a chance to succeed, and we strive to make the lending process as seamless and efficient as possible.

At Saugatuck Funding, we value innovation and embrace cutting-edge technology to enhance our services. Our streamlined application and approval processes leverage advanced tools to ensure quick turnaround times, allowing you to access the capital you need to seize opportunities and overcome challenges without delay.

Customer satisfaction is at the core of everything we do. We are committed to providing exceptional customer service and ongoing support throughout your financial journey with us. Our dedicated team is always available to address your questions, provide guidance, and assist you in making informed financial decisions.

Come join an organization that supports its employees, provides growth opportunities, promotes collaboration and development.

Position Summary: As an Experienced Commercial Credit Underwriter, you will play a vital role in assessing the creditworthiness and risk associated with providing financing solutions to merchants. Your primary responsibility will be to evaluate merchant loan applications, analyze financial data, and make informed credit decisions based on established lending policies and risk tolerance levels. By effectively managing credit risk, you will contribute to the growth and profitability of the organization.

Key Responsibilities:

Credit Analysis: Conduct comprehensive analysis of merchant loan applications, including reviewing financial statements, credit reports, bank statements, and other relevant documentation to assess the creditworthiness of merchants.

Risk Assessment: Evaluate credit risk by considering factors such as the merchant's financial stability, payment history, industry trends, market conditions, and other risk indicators.

Underwriting Standards: Apply established underwriting guidelines, lending policies, and risk tolerance levels to determine loan approval or decline decisions.

Financial Modeling: Utilize financial models and forecasting techniques to assess a merchant's ability to meet loan obligations, including evaluating cash flow, debt service coverage ratios, and collateral valuation.

Documentation Review: Ensure loan applications and supporting documentation are complete, accurate, and compliant with regulatory requirements and internal policies.

Credit Decisions: Make informed credit decisions by balancing risk and reward, considering the borrower's creditworthiness, repayment capacity, collateral, and other relevant factors.

Collaboration: Collaborate with internal stakeholders, including sales teams and loan officers, to gather additional information, resolve discrepancies, and make informed credit decisions.

Portfolio Management: Monitor and review existing loan portfolios, conduct periodic reviews, and recommend appropriate actions to mitigate risk and ensure portfolio quality.

Compliance: Adhere to regulatory requirements, internal policies, and industry best practices to maintain a high level of compliance and risk management standards.

Reporting: Prepare and present reports on credit risk, portfolio performance, and other relevant metrics to management and senior leadership.

High Frequency: Ability to score opportunities quickly and can handle looking at 15-20 applications per day.

Qualifications and Skills:

• Bachelor's degree in finance, accounting, economics, or a related field. A master's degree is preferred.
• 5 Years Credit Underwriting Experience
• Proven experience as a credit underwriter in merchant lending or a related field, with a thorough understanding of credit risk assessment and underwriting principles.
• Strong analytical and financial modeling skills, with the ability to interpret complex financial information and make sound credit decisions.
• Knowledge of regulatory requirements and industry best practices in credit risk management.
• Excellent communication skills, both written and verbal, with the ability to effectively communicate credit decisions and recommendations to internal stakeholders.
• Detail-oriented with strong organizational and time management skills.
• Ability to work independently and handle multiple tasks simultaneously in a fast-paced environment.
• Proficient in using credit underwriting software, financial analysis tools, and MS Office suite.

Job Type: Full-time

Salary: $120,000.00 - $140,000.00 per year

Benefits:

• Employee assistance program
• Paid time off
• Parental leave

Schedule:

• Monday to Friday

Ability to Relocate:

• Stamford, CT 06901: Relocate before starting work (Required)

Work Location: In person