Job Description
Job Description
Job Description
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.
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- 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.
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- 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.
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- 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.
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- 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
- Bachelor’s 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 ideals
- Strong 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.
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