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JOB OPPORTUNITY: Small Business Loan Officer - Wacif (Washington, DC)

  • 1.  JOB OPPORTUNITY: Small Business Loan Officer - Wacif (Washington, DC)

    Posted 10-03-2018 11:24

    TITLE: Small Business Loan Officer

     

    ABOUT WACIF

    The Washington Area Community Investment Fund, Inc. (Wacif) is one of the Washington, D.C. metropolitan area's leading Community Development Financial Institution's (CDFI) focused on small business development. Wacif's mission is to increase equity and economic opportunity in underserved communities in the Washington DC area by investing knowledge, social, and financial capital in low-and moderate-income entrepreneurs. In the last seven years, Wacif has closed more than $9.2 million in loans and assisted over 2,000 entrepreneurs with coaching and technical assistance, sustaining more than 300 local jobs.

     

    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.

     

    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 (1) resume/CV, (2) thoughtful cover letter that outlines how your skills and experience meet the qualifications of the position, and (3) 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.

     

     

     

    harold b. pettigrew, jr.

    Executive Director

    Washington Area Community Investment Fund (Wacif)
    2012 Rhode Island Avenue NE
    Washington, DC  20018
    202.529.5505 x212 Office

    hpettigrew@wacif.org

    www.wacif.org

    @haroldpettigrew

    Bio: www.wacif.org/hpettigrew

     

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