Director of Entrepreneurship Finance

POSITION SUMMARY:   

This position has primary responsibility for prospect, applicant, and partner engagement; project structuring and negotiation; loan underwriting and recommendations; loan closing processes; loan portfolio management; program compliance and reporting; and other functions required for the SBA Microloan Program, USDA Rural Microentrepreneur Assistance Program, and the Minnesota Emerging Entrepreneur Loan Program.  This position in coordination with the Entrepreneurship Program Manager, designs and delivers technical assistance to applicants and borrowers and supports the launch of Southwest Minnesota Community Capital, our emerging Community Development Financial Institution. 

ESSENTIAL FUNCTIONS: 

• Apply independent judgment and discretion to perform comprehensive credit analysis of business plans; historic and projected business cashflow statements, profit and loss statements, and balance sheets; credit bureau reports; business and personal income tax returns; personal financial statements; business and personal collateral/security; organizational/governance documents; audits, contracts, and other due diligence information to complete an accurate financial analysis for each applicant.  Review business projections and assumptions for reasonableness to complete the financial analysis and underwriting process.

• Provide pre and post loan technical assistance to borrowers by assisting prospects and applicants with business planning and loan application preparations and current loan clients with related processes for smooth business operations.

• Prepare financing recommendations and coordinate applicable internal approval processes including loan committee meetings, President approvals, and board ratifications/approvals.
  Communicate credit decisions to credit applicants and project partners.  Negotiate terms and conditions as warranted.

• Prepare loan closing documents, internal loan files, intercreditor agreements, and other documents in compliance with applicable government regulations and Foundation policies and procedures.  Execute filings and registrations to ensure that security interests are perfected, including UCC filings, mortgages, and other pledges of business or personal assets. 

• Provide portfolio management throughout the term of the loan including insurance, forbearance requests, payoff management, restructuring requests and complex payment issues, substitutions or releases of collateral, collections, and other elements of a mission-based commercial loan portfolio.

• Ensure that all loans are made in adherence with Federal, State, and Foundation policies, procedures, guidelines, and applicable laws.
  Enforce adherence to requirements and advise management on needed actions.  Maintain up-to-date knowledge of SBA, USDA, and DEED products, rules and regulations, and applicable laws and policies.  Assist in preparing reports, budgets, expenditure analysis, funding requests, and all other steps needed for compliance with funding from SBA, USDA, DEED, and any other program funders from time to time.

• Manage the budgeting and payment processes including engagement with accounting staff, management of incoming invoices, and related steps to align with internal policy and procedure, external regulation from funders, and other internal or external guidelines and requirements. 
• Support the certification, launch, and implementation of the Southwest Minnesota Community Capital emerging Community Development Financial Institution (CDFI) including, but not limited to research, resource procurement, due diligence, strategy, budgeting and sustainability assessment, organizational design, donor and funder relations, compliance, reporting, and brand promotion. 

OTHER FUNCTIONS: 

• Participate in internal staff functions, team meetings and events. 

• Perform other duties as assigned. 

• Data Management and Integrity: Perform established processes and procedures to maintain the accuracy, completeness, and security of the organization’s data within your area of responsibility. Ensure data is entered, updated, and managed following organizational standards and best practices. Regularly review and verify data to identify and correct errors or inconsistencies and collaborate with team members to improve data management practices. 

KNOWLEDGE, SKILLS AND ABILITIES REQUIRED: 

• Demonstrated ability to act independently, apply discretion and confidentiality, think critically and analytically, negotiate, and persuade; strong situational awareness and self-awareness to act empathetically in difficult and complex situations. 

• Knowledge of managing government funding programs, compliance, and reporting.  

• Strong written and verbal communication skills, program management, and stakeholder relationship management.  

• Proficient skills in Microsoft Outlook, Excel, Word, and database management; proficiency in bookkeeping software.  

• Strong understanding of economic development, credit analysis and commercial finance, business operations and management, business technical assistance including operations and financial management, fundamentals of entrepreneurship, and available resources for small businesses.

• Knowledge and understanding of southwest Minnesota’s economy and the network of key stakeholders regionally, statewide, and nationally.  

• Ability to develop and apply new skills to solve complex problems and improve processes.
  
  
• Commitment to serve as a subject matter expert and collaborate with team members, fostering a culture of knowledge sharing.
  
  
• Desire to stay informed on industry trends and advancements by engaging with provided resources, education and development opportunities.
  
  
• Ability to be a team player in an environment that is fast-paced; ability to handle multiple demands and deadlines. 

CORE COMPETENCIES:

Manages Complexity, Values Differences, Cultivates Innovation, Nimble Learning, Resourcefulness, Demonstrates Self Awareness, Strategic Mindset, Communicates Effectively, Collaborates, Optimizes Work Processes, Financial Acumen, Business Insight.

CORE VALUES:

Southwest Initiative Foundation employees are expected to demonstrate these core values: Optimism, Belonging, Integrity, Innovation, and Collaboration.

MINIMUM QUALIFICATIONS:   

Bachelor's degree in accounting, business administration, finance, or related field. Minimum of three years’ experience in banking or commercial business finance. Minimum of three years’ experience working directly with entrepreneurs and small business owners.  This position requires significant travel in the region (estimated to be up to 2-3 days per week), in addition to occasional state or national travel.  Must provide personal transportation to travel as needed. 

PREFERRED QUALIFICATIONS:

Five years’ experience in commercial business finance and experience working directly with entrepreneurs and small business owners.  Direct experience as a founder or small business owner.  Experience working with economic development programs and organizations.

STATUS:  Full Time, Exempt
                                                REPORTS TO:   President

NUMBER OF DIRECT REPORTS: None

OFFICE LOCATION: Community-based with Hutchinson and/or remote option  

Remote Work Option

As part of our commitment to equitable practices, we want to ensure employees have access to resources and accommodations that empower us to thrive. We believe that both employees and the organization can benefit from flexible work arrangements. Remote work options apply to full-time and part-time employees regardless of tenure. Given the nature of some job functions, SWIF remote work arrangements may not apply to all employees. Each employee’s remote work arrangement should maximize individual, team, and organizational well-being, and will be co-created in collaboration with their supervisor.

Salary : $102,349 - $119,407