Commercial Loan Officer

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.

• 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.

• 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.

• 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.

• 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.