Loan Officer Small Business

POSITION DESCRIPTION

POSITION: LOAN OFFICER – SMALL BUSINESS LENDING

The Loan Officer – is responsible for identifying potential new small business customers and originating loans to small business applicants, assisting them each step of the way. This position reports directly to the Director of Loan Operations and performs other duties as assigned by the Director and/or the Executive Director. The employer is a §501(c)(3) nonprofit and a certified Community Development Financial Institution (CDFI).

JOB SUMMARY:

This position provides support to the loan department. The primary functions are to (1) reach out to and identify existing and potential entrepreneurs who need access to capital and develop referral relationships and resources for the pipeline, (2) help small business owners complete and submit a completed loan application to access the capital they need to start or grow their businesses, (3) underwrite loan applications and present them to the Loan Committee for review and approval.

The Loan Officer will need to understand how to mitigate risk, conducting a detailed assessment and evaluation of each application in accordance with Company Loan Policies & Procedures. The Loan Officer drafts and submits a Credit Memo to the Loan Committee recommending a credit decision and providing support for that recommendation. The Loan Officer maintains records, files, and reports as required. Outreach and marketing are also important functions of this position. This position requires a significant amount of customer contact.

DUTIES AND RESPONSIBILITIES:

•    Regularly attend outreach events, (networking events, speed lending events, etc.), to inform potential applicants, referral sources, and the public about the Company’s Small Business Loan program, including general guidelines, eligibility, and application requirements. Develop and expand outreach opportunities and referral sources for continued program growth.

•    Work with potential applicants from beginning to end of the loan process, including assisting clients with writing a business plan, cashflow projections, compiling the loan application, underwriting, settlements, and servicing.

•    Gain a full understanding of THE COMPANY’S’s Loan Policies & Procedures, including eligibility requirements, as well as standard procedures in small business lending. Through that lens, review and analyze loan applications that are found to be program eligible, financial feasibility, and consistent with policy. An analysis includes a review of, for example: the business plan, assets and liabilities, historic profits and losses, debt to income ratio, and future cash flow projections of the business; the owner’s credit history, personal assets, income and prior employment, and experience in the field; as well as factors outside of the business owner’s control, such as the general economic conditions for the venture.

•    Underwrite each loan based on standard guidelines for small business loans and the additional loan overlays and guidelines provided by THE COMPANY’S. Present each loan application with a recommendation for approval or denial, (as well as recommendations for other variables including loan amount, loan term, and interest only payments), to the Director of Loan Operations for review, and present the request to the Loan Committee.

•    Routinely monitor and update all applications and closed loans, including inquiries, intake of loan applications, underwriting, closing, servicing and impact data and other reporting. Conduct semi-annual site visits for loans closed and complete site visit reports for each loan file.

•    Work with THE COMPANY’S’s Business Consultants and other staff to help transition applicants from their required technical assistance (TA) and business plan development part of the process to the loan application part of the process.

•    Complete and submit regularly required reports, such as loan pipeline reports, and otherwise as appropriate.

•    Stay updated concerning changes in applicable laws, regulations, guidelines, and procedures affecting the COMPANY’S’s products or programs for which the Loan Officer has responsibility.

POSITION QUALIFICATIONS:

 Educational Requirements:  Bachelor’s degree preferred with a business, finance, or accounting concentration. Underwriting certifications and/or job-related experience commensurate with education.

·       Two years of loan officer experience required.

·       Good mathematical aptitude, as well as proficient and accurate data management skills.

·       Experience in lending, preferably in small business finance. Underwriting experience is a plus.

·       Must have strong interpersonal and customer service skills and the ability to work with

·       small business owners, establishing a rapport with people of diverse, ethnic, racial, and

·       cultural backgrounds, as well as varying levels of business skill, knowledge, and

·       experience.

·       Must possess the ability to work in a fast-paced environment, work independently, be organized, maintain a high degree of accuracy, and meet deadlines.

·       Proficiency in Microsoft Office, including Word, Excel, PowerPoint, and Outlook, is required.