Loan Officer - Hamtramck, United States - ProsperUS Detroit

Description

ProsperUs Detroit is a community economic development initiative that supports entrepreneurs and small business development in neighborhoods throughout Detroit, Hamtramck, Highland Park, and Inkster. We are on a mission to advance economic equity in under-resourced communities by supporting entrepreneurs with opportunities and capital needed to build businesses, generational wealth, and vibrant neighborhoods. We do this by delivering radically supportive and culturally competent entrepreneurship training, financial coaching, technical assistance, and microlending. ProsperUs approaches this work with the belief that residents, small businesses, and community organizations in all neighborhoods can engage and revitalize their own communities.

What You Will Do at ProsperUs
As a loan officer at ProsperUs Detroit, you will approach the work with an eagerness to support small businesses and entrepreneurs of color at a community development financial institution (CDFI) working in low- to moderate-income communities. Each day, you will collaborate with entrepreneurs and business owners to access capital and invest in the growth of their microenterprise. Working closely with your team, you will identify solutions to overcome barriers, bolster relationships with entrepreneurs and enhance capital solutions consistent with the organization's mission. You are great at building relationships one-on-one, advocating for others, and communicating effectively with individuals from various backgrounds. We are excited to welcome team members who are focused on intersectional equity in the context of entrepreneurship in Detroit, Hamtramck, Highland Park, and Inkster.

Core Job Responsibilities

1. Capital Access and Borrower Support
   • You will be excited about partnering with potential borrowers to set goals related to accessing capital from origination through closing the loan;
   • You will be responsible for facilitating borrower progress toward accessing capital with ProsperUs through concise attention to project management, including collecting, requesting, and compiling required documentation from potential borrowers with an empathic approach and following up with potential borrowers on referrals to support services when applicable;
   • You will be accountable for maintaining files and database records for all borrowers including the intake form, full loan application, underwriting documents, and final loan presentation;
   • Monthly, you will utilize the underwriting process to prepare loan presentations that will be shared with the ProsperUs Loan Committee for approval;
   • You will understand and implement all guidelines related to confidentiality, regulatory, and quality-control requirements;
   • You will maintain intentional relationships with borrowers throughout the duration of their loans including providing coaching, business services, and other interventions to ensure borrowers are supported to promote capital readiness and meet their business growth goals;
   • You will maintain, iterate, and execute processes to ensure that ProsperUs' approach to administering capital products and services is effective and you are contributing meaningfully to deployment goals; and
   • You will ensure intentional communication with program participants and borrowers through responsive, empathetic communication while creating new ways to interact with the growing ProsperUs network.
2. Outreach and Strategic Growth
   • You will cultivate strong relationships with business owners, entrepreneurs, and community stakeholders in the neighborhoods of Detroit, Hamtramck, Highland Park, and Inkster with intentionality toward ProsperUs program participants, borrowers, and service providers;
   • Regularly, you will develop and conduct presentations related to ProsperUs lending for potential borrowers in ProsperUs programming and other associated opportunities;
   • You will manage capital initiatives by developing goals, strategic planning activities, and providing recommendations and/or reports to leadership;
   • You will support capturing data and metrics related to ProsperUs' lending practices for internal use, sharing with the board of directors, and completing grant reporting functions;
   • You will be a thought partner and share enthusiasm for deepening the sustainability of capital access initiatives at ProsperUs; and
   • In collaboration with the Lending Team, you will identify and support opportunities to grow ProsperUs capital access initiatives in alignment with the strategic direction of the organization.
3. Some other activities you will do to support ProsperUs:
   • Ensure all potential and active borrower information is maintained in Salesforce with attention to data-driven results;
   • Identify opportunities to improve programming, make recommendations to leadership, and collaborate on program enhancements;
   • Represent ProsperUs within the regional entrepreneurship ecosystem and in various networks locally and nationally, as required;
   • Continue enhancing knowledge and expertise in equitable entrepreneurship, community economic development, and race equity; and
   • Assist with special projects as assigned and other tasks deemed necessary to achieve overall goals and to operate a successful program.

Knowledge, Skills, and Abilities
While demonstrating a high energy and passion for ProsperUs' work, including our clients, partners, mission, and values, you are also able to do or know the following:

1. You have knowledge, experience, and credibility within neighborhoods and communities like those that ProsperUs serves. You are familiar with community-based organizations (CBOs), community development financial institutions (CDFIs), and nonprofits in Detroit and the region.
2. You understand relationship-based lending services, products, and best practices and can advocate for their benefit for entrepreneurship and small business development ecosystems.
3. You are interested in working with technology systems and you can learn and use new software and tools as required. Experience with Salesforce is a plus, and training will be provided.
4. You have a personal and professional commitment to intersectional equity, including the dismantling of racism and other forms of oppression that exist in the communities ProsperUs serves, specifically Black, Latinx, Arab, immigrant, and low- to moderate-income communities.
5. You have a proven history of transparent and high-integrity servant leadership.
6. You can manage timelines and understand how to communicate your needs to others including team members, partners, and other stakeholders.
7. You want to find a solution. You can demonstrate proactive, entrepreneurial approaches to problem-solving with strong decision-making capability.
8. You are self-motivated and able to work independently, but you also have practice working with internal or external teams and appreciate collaboration.
9. You must be excited about finding solutions to challenges or barriers faced by those we serve.

Minimum Qualifications
ProsperUs is looking for candidates who have the following qualities:

• Experience and/or knowledge of business financials, banking principles, and accessing capital. An emphasis on entrepreneurship and economic development is a plus.
• At least two years of proven experience with skills in portfolio / asset management, commercial lending, loan servicing, compliance, or reporting for small businesses. Ideally, an emphasis of understanding businesses and entrepreneurs who encounter challenges related to systemic and institutional inequity. Bachelor's degree in a related field preferred.
• Strong technical skills with Microsoft Office Suite (Outlook, Word, Excel, and PowerPoint) and Nitro Pro (or comparable tools), operating systems, and networks.
• Flexibility in days and hours available for scheduled work, including regular evening engagements and occasional weekend commitments.
• Strong written and verbal communication skills in English. The ability to communicate in Spanish, Arabic, French, or Bangla is a plus.

Reports to: Lending Director

Hiring Process and Timeline

Application Deadline: May 19, 2024

Interview includes:

1. Screening Call with Selected Candidates
2. In-Person Interview with Team
3. Interview with CEO

Anticipated Start Date: June 2024

Pay and Benefits
The salary range for this position is $55,000 to $75,000; in addition, we offer these supports to help you manage your mental, emotional, and physical health:

• Holidays: You will have 11 nationally recognized holidays, an additional floating holiday to be used when you choose, and more time to rest around the winter holidays.
• Paid Time Off: When you join, you will have 15 days of paid time off (PTO) that you can use 90 days after joining the team.
• Benefits Plans: You can choose to join the organization's benefits plan with health insurance (most paid by organization), org-paid vision, and org-paid dental.
• Retirement Savings: You can invest in the org-sponsored 401(k) and ProsperUs will match a portion of your contributions.
• Parental Leave: You will have access to parental leave for giving birth, adoption, fostering, and supporting a partner who is giving birth.
• Family-Friendly: ProsperUs is a family-friendly work environment with accommodations for nursing parents, respect for childcare needs and practices, parental leave, and other supports.
• Continuous Learning: We care about your success. You will create professional development goals to collaborate on with your supervisor, and we regularly check-in about how it's going with Quarterly Conversations focused on goals and values.
• Flexible Schedule: Team members must be available 9 AM - 3 PM Eastern Time. We participate in a variety of events and collaborations, so we encourage team members to work additional hours with a schedule that works for them.
• Flexible Work Environment: We encourage hybrid home / office work. Team members primarily work in-person, with three remote workdays allowed per week. In-person events and engagements are a regular responsibility of all roles at ProsperUs.

Don't check off every box in the requirements listed? Please apply anyway Studies have shown that historically excluded communities - such as women, LGBTQ+, and people of color - are less likely to apply for jobs unless they meet every single qualification. ProsperUs Detroit is dedicated to building an inclusive, diverse, equitable, and accessible workplace that fosters a sense of belonging - so if you're excited about this role but your experience doesn't align perfectly with every qualification in the job description, we encourage you to still consider applying. You may be just the right candidate for this role or another one of our openings

ProsperUs Detroit provides equal employment opportunities (EEO) to all employees and applicants for employment without regard to race, color, religion, gender, sexual orientation, gender identity or expression, national origin, age, disability, genetic information, marital status, weight, amnesty, or status as a covered veteran under applicable federal, state, and local laws. We seek a broad and diverse pool of candidates and strongly believe that our organization benefits from the perspectives and talents of a diverse staff who understand the unique needs of entrepreneurs in Detroit, Hamtramck, Highland Park, and Inkster.