Small Business Loan Officer - Baltimore, United States - Hiring Consultant
Description
Job Description
Job DescriptionLOAN OFFICER – SMALL BUSINESS LENDING
POSITION ANNOUNCEMENT
The Small Business Loan Officer supports the Small Business Lending Division of a mission-driven 501(c)3 nonprofit Community Development Financial Institution (CDFI) in assisting small business customers in providing access to capital and business development services, This position reports directly to the Director of Small Business Lending in originating loans and performing small business lending duties as assigned by the Director and/or the President & CEO.
JOB SUMMARY:
The primary functions are to (1) Conduct a detailed assessment and evaluation of loan applications; (2) Help small business owners complete and submit loan applications, including compiling loan documents, underwriting settlements, and servicing the business owner throughout the loan process, (3) Perform outreach to identify existing and potential entrepreneurs who need access to capital and develop referral relationships and resources for the pipeline,
ESSENTIAL DUTIES & RESPONSIBILITIES
· Review and analyze loan applications for program eligibility and financial feasibility consistent with Company loan policies and procedures, including eligibility requirements and standard procedures in small business lending.
· Draft and submit Credit Memos to the Loan Committee recommending a credit decision and providing support for that recommendation.
· Prepare credit memos, commitment letters, closing packages, and other documentation in accordance with Company procedures, ensuring all application documents are completed for submission to the Small Business Director, uploaded onto the online platform to ensure approved loans are funded, ACH withdrawals are arranged, UCC Financing Statements are filed.
· Present loan applications to the Director with recommendation for approval or denial, and/or determining the need for Technical Assistance and business development.
· Keep the Small Business Director informed of significant progress or problems as they arise in connection with loan applications and seek assistance to resolve problems as appropriate.
· Routinely monitor and update all applications and closed loans through the Company's online loan and customer management systems, including inquiries, intake of loan applications, underwriting, closing, servicing, and reporting impact data; Maintain records, files, and reports as required:
· Complete and submit regularly required reports, such as loan pipeline reports, through the online platform and otherwise as appropriate.
· Assist the Finance Department/Portfolio team in performing annual loan reviews.
· Stay updated concerning changes in applicable laws, regulations, guidelines, and procedures affecting the Company's products or programs for which the Loan Officer has responsibility.
· Support the Small Business Training and Development Officer in transitioning applicants from Technical Assistance (TA) and business development to loan eligibility; and assisting with borrower follow-up site visits when needed.
· Regularly attend outreach events to market and promote the Company's Small Business Loan program, develop, and expand outreach opportunities and referral sources for continued program growth.
· Work as a team member, ever conscious of deadlines, workflow, and assignment schedules.
EDUCATION AND/OR EXPERIENCE
● Bachelor's Degree (preferred) with finance, or accounting concentration and at least 5 years of previous experience in lending, preferably in small business finance.
● Underwriting experience is a plus.
REQUIRED SKILLS & ABILITIES
● Proficiency in effectively communicating technical and mathematical concepts, loan summaries and other written communications.
● Knowledge and understanding of risk mitigation.
● Strong interpersonal and customer service skills and the ability to work with small business owners with persons of diverse ethnic, racial, and cultural backgrounds, as well as varying levels of business skill, knowledge, and experience.
● A drive to help business owners achieve financial success and improve the overall economy of Baltimore as part of a mission-driven organization.
● Familiarity with Baltimore City and its neighborhoods is a plus.
● Strong organizational skills and the ability to work independently and as a team member in a fast-paced environment, maintaining a high degree of accuracy and ability to meet deadlines.
● Strong interpersonal and customer service skills.
● Proficiency in computer technology: Microsoft Office, Word, Excel, PowerPoint, and Outlook and data entry required.
● Good mathematical aptitude.
● Experience with SalesForce is a plus.
COMPENSATION:
Compensation: $60,000-$65,000/annually, paid as a salary with benefits, commensurate with experience and qualifications. An excellent benefits package includes 40lk plan with match, health insurance, life, and disability insurance, and paid annual leave.
Company DescriptionPremiere Staffing Firm that specializes in matching professional and career minded job seekers with the commensurate employment opportunities.