What are the responsibilities and job description for the Commercial Loan Officer position at MEDA - Metropolitan Economic Development Association?
Company Description MEDA (Metropolitan Economic Development Association) creates thriving communities through equal economic participation by supporting underserved small businesses across Minnesota. The organization is a go-to resource for entrepreneurs seeking one-on-one customized business consulting and access to alternative capital. MEDA connects clients with peers, corporate partners, and community resources to help them grow and succeed. Team members contribute to meaningful economic impact while working closely with diverse business owners and community stakeholders.
Role Description The Commercial Loan Officer is a full-time, on-site role based in Minneapolis, MN. This role is responsible for originating, underwriting, and managing commercial loans for small businesses, with a focus on underserved and diverse entrepreneurs. Day-to-day responsibilities include assessing creditworthiness, analyzing financial statements, structuring loan requests, and preparing credit memos and recommendations for approval. The Commercial Loan Officer will manage a portfolio of loans, monitor borrower performance, and ensure compliance with internal policies, SBA guidelines, and regulatory requirements. The role also involves meeting with prospective and existing clients, providing technical assistance on financing options, and collaborating with internal business consultants and external partners to support client growth. The Commercial Loan Officer will participate in outreach events, build relationships with community and banking partners, and contribute to MEDA’s mission-driven lending strategies.
Qualifications: Senior Loan Officer
- Experience as a Loan Officer or in a similar commercial lending role, with a solid understanding of small business and community lending.
- Strong finance and credit analysis skills, including financial statement review, cash flow analysis, and risk assessment.
- Proficiency in underwriting commercial loans, including preparing detailed credit memos and recommending appropriate loan structures.
- Knowledge of loans and lending products, including term loans, lines of credit, and other small business financing solutions.
- Familiarity with SBA programs and requirements, including structuring and packaging SBA-backed loans.
- Excellent communication, relationship-building, and customer service skills, with the ability to work effectively with diverse business owners.
- Strong organizational and time management skills, with the ability to manage multiple loans and priorities simultaneously.
- Bachelor’s degree in finance, business, economics, or a related field, or equivalent combination of education and relevant experience.
- Commitment to economic equity and interest in supporting underserved and underrepresented entrepreneurs.
- Ability to work on-site in Minneapolis, MN, and participate in occasional community events and meetings outside standard business hours as needed.