Loan Officer (Ref#12-022)
Company Name: Seedco Financial Services
Job Location: New York, NY US
Minimum Education: 4-Year College Degree
About Seedco Financial:
Seedco Financial is a national, nonprofit community development financial institution (CDFI) with $190 million in assets under management. Working with local partners, Seedco Financial provides affordable financing and technical assistance to small businesses, nonprofit organizations, and anchor commercial projects in low-income and economically distressed communities. Its financing programs are designed to fill critical capital and capacity gaps within local markets. Seedco Financial is a subsidiary of Seedco, a national community development intermediary that creates opportunities for low- wage workers and their families in economically distressed areas.
Position Overview:
The Loan Officer is responsible for identifying, acquiring, and expanding community development lending opportunities in target markets with a focus on providing loan financing and technical assistance to small businesses, nonprofit organizations and real estate developers. The Loan Officer will work closely with borrowers and key stakeholders to find solutions, and effectively manages the loan process from origination through booking, and will continue to actively manage the borrower relationship throughout the term of the loan. The Loan Officer will analyze, structure, and negotiate credit requests.Job Location: New York, NY US
Minimum Education: 4-Year College Degree
About Seedco Financial:
Seedco Financial is a national, nonprofit community development financial institution (CDFI) with $190 million in assets under management. Working with local partners, Seedco Financial provides affordable financing and technical assistance to small businesses, nonprofit organizations, and anchor commercial projects in low-income and economically distressed communities. Its financing programs are designed to fill critical capital and capacity gaps within local markets. Seedco Financial is a subsidiary of Seedco, a national community development intermediary that creates opportunities for low- wage workers and their families in economically distressed areas.
Position Overview:
Responsibilities:
Marketing/Outreach
- Cultivates new lending opportunities in target underserved markets;
- Responds to referrals (internal and external) in a timely, professional manner;
- Promotes Seedco Financial’s loan services and products and technical assistance resources to prospective borrowers, community organizations, banks and government agencies to enhance its reputation;
- Promotes a positive attitude and team approach to customer relationships;
- Participates in activities that promote community development lending activities; and
- Participates in special projects designated by your immediate supervisor and executive management.
Loan Origination
- Gathers personal information about clients and businesses to ensure that an informed decision is made regarding the creditworthiness of the borrower and the probability of repayment;
- Analyzes and verify borrower loan application to determine the client’s creditworthiness;
- Packages loans and submit to underwriting for review and approval;
- Provides guidance to prospective loan applicants who have problems qualifying for traditional loans;
- Determining the most appropriate type of loan for a particular borrower, and explain specific requirements and restrictions associated with the loan. Some of the functions of a loan counselor also may be performed by a loan officer; and
- Respond to customer requests in a timely, professional manner within 48 hours.
Client Relationship Management
- Guide borrowers through the application process by proactively reaching out to the prospective borrower, obtain basic information about the purpose of the loan and explain the different types of loans and credit terms that are available to the applicant;
- Answer questions about the process and assist borrowers in filling out the application if necessary;
- Work closely with loan underwriters to conduct a comprehensive industry and financial analysis and risk assessment and to determine appropriate loan terms and repayment schedule;
- 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; and
- Understand, adopt, and adhere to organizational policies, procedures and guidelines.
Qualifications:
- B.S./B.A preferred;
- A minimum 2+ years of lending experience required;
- Must possess experience in and a strong knowledge of the of NYC market;
- Must have the ability to bring new loan referral sources and clients to the organization;
- 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;
- Strong financial skills and ability to develop and interpret financial statements applied to business accounting and finance principle are required;
- Must be proficient in Windows based software;
- Superior analytical skills are required;
- Must possess the ability to meet performance goals;
- Bilingual (English/Spanish) a plus;
- A working knowledge of Small Business Administration (SBA) Loan Programs, Policies & Procedures as well as traditional and alternative Loan Programs is beneficial; and
- Knowledge of local market including financial institutions, local government, and community organizations; and an understanding of local priorities, opportunities and challenges is preferred.
To Apply:
Interested applicants should send their resume and a brief cover letter to: SFSjobopenings@seedco.org, with the subject line “Loan Officer (Ref# 12-022)” Due to the large volume of applications we receive, we are unable to personally acknowledge the receipt and status of each one. Only candidates selected for an interview will be contacted.
Interested applicants should send their resume and a brief cover letter to: SFSjobopenings@seedco.org, with the subject line “Loan Officer (Ref# 12-022)” Due to the large volume of applications we receive, we are unable to personally acknowledge the receipt and status of each one. Only candidates selected for an interview will be contacted.