Loan Operations Specialist

Job Posting/Job Description March/April 2026

Position Title: Loan Operations Specialist-Intermediate FLSA Status: Hourly/Non-Exempt/Full Time

Department: Lending Services Reports To: Lending Services Manager

Location: Must be based in Michigan Date Updated: 03/30/2026, 04/01/2026

Specific Locations: Hybrid with in-office time required for employees based in the areas around Marquette, Battle Creek, and Grand Rapids with occasional travel; if based in other areas of Michigan, most work would be remote with occasional travel/in-person meetings within Michigan

Northern Initiatives’ Mission

Northern Initiatives (NI) is a non-profit Community Development Financial Institution that provides access to capital, information and markets to advance and connect small businesses and their communities. Northern Initiatives supports entrepreneurs, businesses, manufacturing firms, banks, educational institutions, and non-profit organizations in a common effort to strengthen the economy of Michigan.

Position Summary

This position is responsible for processing new loan requests, creating loan closing documentation, conducting due diligence tasks and performing assigned portfolio management duties.

Job Duties and Responsibilities

This position will support lenders with the primary responsibility of finalizing the loan closing process in adherence of loan policy and providing ongoing servicing of borrower files.

• Support lenders with due diligence items such as: title search/commitment, UCC search, insurance verification, flood determinations, real estate evaluations and appraisals.
• Review loan packages for accuracy and completeness and work with lenders to correct any issues prior to loan closing.
• Promptly and accurately determine when all loan approval conditions have been satisfied.
• Analyze and interpret the loan approval and committee recommendations to determine borrower, collateral and guarantor requirements.
• Accurately prepare loan closing documentation in a timely manner and in compliance with the conditions to close and loan policy.
• Review signed closing documentation and ensure compliance with loan approval, NI Loan Policy and funder requirements.
• Process loan closings including disbursement documentation, electronic borrower file, and any other requirements according to the terms of the loan.
• Interact with various service providers, such as title companies and insurance companies, as needed to ensure complete and accurate borrower files.
• Monitor any exceptions to loan policy and work with lender to clear them in a timely manner.
• Continuously monitor loan files for expiring documents and work with lender to obtain updated documents as needed.
• Support lenders & underwriting with annual borrower reviews.
• Support team members on an as needed basis with the preparation of loan modification documentation.
• Record data about client and development activity in customer resource management (CRM) software and loan servicing software in order to maintain NI’s goal of a comprehensive CRM.
• Assist with activities and information required for external audit of loan portfolio.

Responsibilities specific to the Loan Operations Specialist - Intermediate

• Facilitate monthly credit reporting and respond to disputes received from borrowers.
• Complete all required training and certifications and maintain up-to-date on any related regulatory changes.
• Ensure NI is compliant with all regulations related to credit reporting by attending regular trainings, conferences, and maintaining a relationship with our vendor partners.
• Produce and mail delinquency letters to borrower’s with past due loan payments.

Additional Responsibilities

• Assist with reporting as assigned.
• Attend and actively participate in all team meetings and trainings, staff retreats and other virtual or in-person meetings as needed.
• Represent Northern Initiatives in a professional manner.
• Contact with Northern Initiatives’ staff, specifically the Lending department, to fulfill critical duties within Northern Initiatives; must maintain positive, professional working relationships within the organization, as well as with Board members.
• External contacts involve maintaining positive, professional relationships with customers (potential and existing), title companies, insurance companies, or bankers. A relationship involves discussing and resolving problems or gathering comments which could lead to proposing measures to enhance services and proactive solutions.
• Attend and actively participate in all team meetings, staff meetings, DEI and culture trainings, Clifton StrengthsFinder, planning sessions, staff retreats and other virtual or in-person meetings as needed; follow NI’s Zoom meeting expectations (being on camera, etc.) for professional communication
• Represent Northern Initiatives in a professional manner
• This is not an exhaustive list of job responsibilities; all other duties as assigned and/or needed for business continuity.

Physical Requirements & Schedule Requirements

· Location: Must be based in Michigan and remain based in Michigan throughout employment

· Specific Locations: Hybrid with in-office time required for employees based in the areas around Marquette, Battle Creek, and Grand Rapids; if based in other areas of Michigan, most work would be remote with occasional travel/in-person meetings within Michigan

· Occasional travel with in Michigan needed for all staff meetings and other in-person trainings

· If the person in this role is located near an NI office (Marquette, Battle Creek, Grand Rapids, and possibly others may be added) then work in-person at an NI office at least one day per week may be required; more in-office time may be needed as business needs arise.

· Occasional in-person meetings may be required

· Meetings are virtual meeting via Zoom or similar platform, or in-person at NI office, or other meeting locations in Michigan

· In-person meetings may be required for trainings at hire and occasionally throughout the year

· Long stretches of time are spent on computer work, typing, Zoom meetings and similar desk-based work

· Reliable team member with a consistent schedule and dependable for clients and team

· Have a distraction-free work environment for all remote work to ensure work consistency and a professional meeting environment

· Schedule is typically M-F, business hours similar to our financial partners, with occasional evenings or weekends for meetings, travel or other business needs

· Travel within Michigan twice per year for 1 week each for all staff retreats (usually May/June and late Sept/early Oct)

· Majority of meetings/work for this role are during the business hours of the Eastern Time Zone

· Driving is not required for this position, but this employee is responsible for coordinating their own transportation to/from work events (expenses for this will be budgeted/approved ahead of time by the supervisor, and payment options will be planned or reimbursement available to the employee for those costs). Reasonable accommodations for travel/transportation will be considered through the interactive process.

· If driving for work purposes, employee must maintain a valid driver’s license and vehicle insurance. It is the employee’s responsibility to ensure that full coverage vehicle insurance is current and meets all state requirements. Northern Initiatives may ask at any time for a copy of employees’ drivers licenses and/or vehicle insurance for business purposes.

Experience Requirements

Minimum of 3 years of experience in banking, CDFI, and/or other lending institution

· Commercial lending documentation, credit reporting (METRO2) and/or with industry software programs preferred

· LaserPro experience preferred

· Considerable previous experience preferred in same or similar positions preferred

Minimum 3 years of direct experience required, 5+ years of direct experience preferred

· Minimum high school diploma or equivalent.

· Commercial Loan preparation and documentation experience highly preferred

· Demonstrated experience for the job responsibilities of this position

· Associate degree in business or accounting preferred

Supervision

This position does not have supervision responsibilities.

Inclusion & Non-Discrimination

Northern Initiatives provides loans and business services to Michigan entrepreneurs and small business owners who add jobs and help their communities thrive. We welcome applicants from all walks of life and life experiences. Northern Initiatives shall not discriminate on the basis of race, color, religion (creed), gender, gender expression, age, national origin (ancestry), disability, marital status, sexual orientation, or military status, in any of its activities or operations.

Accommodations

Applicants are encouraged to contact Human Resources at [email protected] if assistance is needed in the application or hiring process, or we can answer questions about our organization and its hiring process. ADA accommodation requests or other types of accommodation requests should be sent to [email protected] or call (906) 228-5571. Northern Initiatives upholds all applicable state and federal employment laws.

Benefits & Compensation

This is a full time, hourly/non-exempt position that is 40 hours per week. Occasionally, working over 40 hours per week is necessary for business success. This position qualifies for the full benefit package including medical, dental, vision, short term disability, long term disability, life insurance, additional voluntary life insurance, 403B with generous discretionary match, generous paid time off (PTO), generous paid sick time, 13 paid holidays, and other benefits. Compensation is commensurate with experience/education. Application, resume, professional references, and background checks are required for all positions. Official transcripts may be requested. Northern Initiatives is an at-will employer based in Michigan and follows all applicable state and federal employment laws. Annual background checks are required and continued employment is contingent on those background checks being clear and meeting SBA standards.

To apply:

Please apply via Indeed -or-

by sending your resume & cover letter to [email protected]

Pay: $22.00 - $28.00 per hour

Benefits:

• 401(k)
• 401(k) matching
• Dental insurance
• Flexible spending account
• Health insurance
• Health savings account
• Life insurance
• Paid time off
• Parental leave
• Retirement plan
• Vision insurance

Application Question(s):

• Do you have a minimum of 3 years of experience in banking, CDFI, and/or other lending institution?
• This position is in Michigan and the person in this role is required to be based in Michigan and stay based in Michigan through out employment. This position is hybrid with remote and in-person work required. There is occasional travel in Michigan. Does this fit what you are able to commit to as an applicant for this position?
• What experience do you have with commercial lending documentation, credit reporting (METRO2) and/or with industry software programs such as LaserPro?

Work Location: Hybrid remote in Grand Rapids, MI 49516