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Loan Officer

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Published 4 days ago

The Local Enterprise Assistance Fund (LEAF) seeks a Loan Officer to grow its community lending program. Working closely with the Director of Lending, the Loan Officer will develop a pipeline of borrowers that align with LEAF’s mission and lending criteria, and help manage the lending process. An ideal candidate will have experience in small business lending or community development, a customer-oriented mindset, sharp financial analysis skills, 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 Officer will conduct outreach to potential LEAF borrowers, guide applicants through the lending process, and manage a portfolio of borrower relationships. The Loan Officer will also support the day-to-day operations of LEAF’s loan fund. Typical responsibilities will include:

Business Development - 50%

  • Develop a pipeline of potential LEAF borrowers.
  • Respond to loan inquiries and referrals, and guide applicants through LEAF’s lending process. Negotiate loan terms and structure.
  • Proactively cultivate new referral relationships, and deepen existing partnerships.
  • Market LEAF directly to potential borrowers. Represent LEAF at public events, and identify opportunities for community outreach.
  • Maintain up-to-date information on loan applicants in LEAF’s Salesforce system, and follow up on open leads.

Credit Analysis - 25%

  • Analyze loan applications using LEAF’s credit underwriting guidelines.
  • Review applicants’ business plans, financial statements and credit reports.
  • Assess fit with LEAF’s programs and mission.
  • Compose credit memoranda, and present to LEAF’s loan committee for approval.

Relationship Management - 25%

  • Manage portfolio of client relationships. Maintain rapport with borrowers, and quickly identify any potential issues or opportunities for additional support.
  • Support loan closing process, coordinating with other LEAF staff and external counsel.

Qualifications:

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

  • Enthusiasm for LEAF’s mission
  • At least 3-5 years of relevant professional experience
  • 4-year degree in a related field, such as business & finance, community & economic development or public administration
  • Ability to analyze business financial statements
  • Strong communication and customer service skills
  • Strong organizational and time management skills, and sharp attention to detail
  • Experience working with diverse communities
  • Familiarity with Boston’s small business community is a plus
  • Ability to speak multiple languages is a plus

The Local Enterprise Assistance Fund (LEAF) seeks a Loan Officer to grow its community lending program. Working closely with the Director of Lending, the Loan Officer will develop a pipeline of borrowers that align with LEAF’s mission and…

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 70,000LEAF provides competitive compensation, adjusted for experience. The starting salary range for this position is $70,000 - $80,000, plus an annual performance-based bonus.

Benefits

Other benefits include:

  • Premium health and disability insurance, premiums 100% covered by LEAF
  • 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
  • Four weeks paid vacation annually
  • Continuing education/tuition reimbursement on…

Level of Language Proficiency

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

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

Location

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

How to Apply

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.

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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