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Loan Associate

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The Local Enterprise Assistance Fund (LEAF) seeks a Loan Associate to support its community lending program. The Loan Associate will assist with reviewing loan applications, managing the loan closing process, and maintaining strong relationships with LEAF’s borrowers. An ideal candidate will have a background in finance or community development, a keen eye for detail, and a shared commitment to LEAF’s values of economic and racial justice. 

About LEAF: 

LEAF is a Boston-based Community Development Financial Institution (CDFI). It promotes human and economic development by providing financing and development assistance to cooperatives and social purpose ventures that create and save jobs for low-income people. LEAF has three major lines of financing:

  • Cooperatives: Loans to democratically-owned cooperatives nationally, including worker-owned coop businesses, community-owned food coops, and affordable housing coops.
  • Local Small Business: Loans to growing small businesses in Greater Boston that provide good jobs and wealth-building opportunities in communities of color.
  • Healthy Food Access: Businesses that improve equitable access to healthy food retail in Massachusetts.

LEAF also provides technical business assistance to small businesses to help them assess risks and growth areas. Since its founding in 1982, LEAF has invested and leveraged over $122 million, resulting in the creation or retention of more than 10,300 jobs. Working at LEAF is great for those who love to learn, enjoy contributing to community development, and want to have a large impact on a smaller organization.

Role & Responsibilities: 

The Loan Associate will support the smooth operation of LEAF’s community loan fund, working closely with the Director of Lending. Specific duties will include:

Portfolio Management - 40%

  • Monitor existing borrower relationships. Maintain correspondence and rapport with borrowers, and quickly identify any potential issues.
  • Maintain complete, up-to-date loan files. Enter information into LEAF’s loan database system.
  • Support loan closing process. Assist with preparation of closing documents.
  • Participate in LEAF’s annual portfolio review.

Credit Analysis - 40%

  • Analyze loan applications for eligibility, using LEAF’s credit underwriting guidelines.
  • Review applicants’ business plans, financial statements and credit reports. Conduct due diligence to verify factual information.
  • Discuss strengths and risks of each loan proposal with LEAF’s lending team. 

Business Development - 10%

  • Develop relationships with potential LEAF borrowers. Represent LEAF at events, and identify opportunities for community outreach.
  • Develop familiarity with LEAF’s lending guidelines and processes, and ability to respond to client inquiries.

Miscellaneous and Fundraising - 10%

  • Assist with preparation of funding applications and reports
  • Identify new opportunities and resources for LEAF to pursue. Support special projects as they may arise.

Qualifications:

An ideal candidate for the Loan Associate position will possess the following qualifications:

  • Enthusiasm for LEAF’s mission
  • At least 1-3 years of experience in a related field
  • 4-year college degree, or equivalent work experience
  • Ability to read and interpret business financial statements
  • Close attention to detail
  • Strong communication and customer service skills
  • Comfortable using Excel spreadsheets
  • Experience working with diverse communities
  • Sense of humor, and a curiosity to learn
  • Ability to speak multiple languages is a plus

The Local Enterprise Assistance Fund (LEAF) seeks a Loan Associate to support its community lending program. The Loan Associate will assist with reviewing loan applications, managing the loan closing process, and maintaining strong…

Details at a Glance

  • Time Commitment
    Full Time Schedule
  • Start Date
    October 14, 2021
  • Application Deadline
    October 13, 2021
  • Education
    4-Year Degree Required
  • Professional Level
    Professional

Salary

At least USD 60,000LEAF provides competitive compensation, adjusted for experience. The starting salary range for this position is $60,000 - $70,000, plus an annual performance-based bonus.

Benefits

Other benefits include: 

  • Premium health and disability insurance, premiums 100% covered by LEAF
  • Performance-based annual bonus
  • Four weeks paid vacation annually 
  • Continuing education/tuition reimbursement on approved programs, up to $1,500 annually
  • Friendly colleagues that are passionate about what they do and want to help you succeed

Other benefits include: 

  • Premium health and disability insurance, premiums 100% covered by LEAF
  • Performance-based annual bonus
  • Four weeks paid vacation annually 
  • Continuing…

Level of Language Proficiency

English fluency required. Ability to speak multiple languages a plus.

English fluency required. Ability to speak multiple languages a plus.

Location

Temporarily Remote
Work must be performed in or near Boston, MA
Associated Location
386 Western Ave, Boston, MA 02135, USA

Apply to This Job

Instructions:

Interested candidates should email a resume and cover letter to jobs@leaffund.org. This position is open until filled, and applications will be reviewed on a rolling basis.

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