Small Business Loan Officer

Job Type

Full Time

Published

09/26/2018

Application Deadline

10/12/2018

Address

2012 Rhode Island Avenue Northeast
Washington
District of Columbia
20018
United States

Description

TITLE: Small Business Loan Officer


POSITION OVERVIEW

The Washington Area Community Investment Fund (Wacif) seeks to fill the full-time position of Small Business Loan Officer, which will be responsible for identifying, acquiring, and expanding lending opportunities in target markets with a focus on providing loan financing and technical assistance to small businesses and nonprofit organizations. The Small Business Loan Officer will analyze, structure, and negotiate credit requests. In addition, the Small Business Loan Officer will work closely with borrowers and key stakeholders to find solutions, effectively manage the loan process from origination through closing, and actively manage the borrower relationship throughout the term of the loan.

REPORTS TO: Director of Lending


DUTIES & RESPONSIBILITIES


Marketing/Outreach

·      Conduct proactive outreach to target underserved markets and communities to cultivate new lending opportunities.

·      Respond to referrals (internal and external) in a timely, professional manner.

·      Promote Wacif loan services and products and business services resources to prospective borrowers, community organizations, and other community partners.

·      Represent Wacif in public forums, facilitate community outreach efforts, and other activities that promote lending activities.


Loan Origination

·      Gather data necessary about clients and businesses to ensure that an informed decision is made.

·      Analyze and verify borrower loan application to determine creditworthiness and probability of repayment.

·      Provide guidance to prospective borrowers on loan products and specific requirements associated with each loan product.

 

Underwriting

·      Conduct a comprehensive industry and financial analysis and risk assessment and to determine appropriate loan terms and repayment schedule.

·      Insure loan requests comply with loan underwriting, product and program policies and procedures.

·      Prepare and submit credit memorandums to Director of Lending and/or loan committee for approval.

·      Assist with loan closing functions, including preparation of loan documents in consultation with appropriate staff members and legal counsel.

 

Portfolio Management

·      Maintain accurate files of current borrower.

·      Actively monitor borrower's financial and organizational health, recommend action and restructure loans when necessary.

·      Work closely with loan collections staff to contact borrowers with delinquent loan accounts to help them find a method of repayment in order to avoid their defaulting on the loan.

·      Assist with impact data collection and reporting on borrowers.

 

Other Duties as Assigned 

·      Provide business consulting services/technical assistance to improve the financial capacity of prospective applicants and existing borrowers.

·      Prepare internal and external reports as required for executive management and Board of Directors.

·      Support Director of Lending and executive team on various projects and assignments.



QUALIFICATIONS

·      Bachelor’s degree from an accredited institution required.

·      Minimum of 2-5 years of lending experience required; formal credit training is a plus.

·      Small business lending experience, preferred.

·      Prior work-related experience and knowledge of community development lending, Small Business Administration (SBA) loans, as well as traditional and alternative loan programs is beneficial.

·      Prior related work experience in the non-profit and/or public sectors preferred.

·      Strong financial skills and ability to develop and interpret financial statements applied to business accounting and finance principles are required.

·      Hands on experience working with small business owners is a plus

·      Excellent verbal, written, and interpersonal communication skills.

·      Must possess the ability to meet performance goals.

·      Ability to say 'no' when appropriate.

·      Detail–oriented individual, and ability to work independently and with a team.

·      Fluency in MS Office suite (Excel, Word, PowerPoint), and superior analytical skills are required.

·      Occasional evening and weekend hours may be required.

·      Bilingual (English/Spanish) a plus.


About the Washington Area Community Investment Fund (Wacif)

Since its inception in 1987, the Washington Area Community Investment Fund (Wacif) has closed nearly 400 loans totaling more than $32 million in strategic financing for small business startup and growth, affordable housing developments and cooperatives, and childcare and community facilities throughout the Washington, DC, metropolitan region. Wacif is a nonprofit Community Development Financial Institution (CDFI), and over the past seven years has closed nearly 130 loans totaling $8 million, assisted over 2,000 entrepreneurs with small business coaching and technical assistance, resulting in over 300 local jobs created or retained.


COMPENSATION

Competitive salary commensurate with experience. Medical, Dental, Vision, Life & Disability coverage available. Retirement plan (some employer contribution & matching); paid vacation (increased with tenure), holiday and sick leave days.

 

TO APPLY

Interested candidates should email a resume/CV, thoughtful cover letter that outlines how your skills and experience meet the qualifications of the position, and salary requirements to opportunity@wacif.org with “Small Business Loan Officer” in the subject line. First application reviews will begin October 12, 2018.


Wacif is an equal opportunity employer and welcomes candidates from diverse backgrounds.


We thank all those who apply, but only shortlisted candidates will be contacted.

No calls please. Telephone inquiries will not be accepted.


Professional Level

None specified

Minimum Education Required

No requirement

How To Apply

opportunity@wacif.org

TO APPLY

Interested candidates should email a resume/CV, thoughtful cover letter that outlines how your skills and experience meet the qualifications of the position, and salary requirements to opportunity@wacif.org with “Small Business Loan Officer” in the subject line. First application reviews will begin October 12, 2018.



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