Job Title: Loan Officer
FLSA Status: Exempt Position
LEDC Synopsis: The Latino Economic Development Corporation (LEDC) is a private, non-profit 501(c)(3) community development corporation founded in 1991. LEDC’s mission is to drive the economic and social advancement of low- to moderate-income Latinos and other D.C. area residents by equipping them with the skills and tools to achieve financial independence and become leaders in their communities.
Position Summary: One of LEDC’s most important services to small businesses is our micro-loan program. LEDC currently lends up to $50,000 for small or emerging businesses unable to obtain financing from mainstream banks. The goal of the program is to provide first step financing to promising entrepreneurs increasing their capacity to create wealth for their owners and economic opportunity for the communities they serve. Many businesses in low-income parts of the city are unable to grow for lack of capital. We provide financing to such businesses, helping cleaning companies, carry-out restaurants, hair salons, and the like to start or grow their businesses.
Essential Job Duties/Responsibilities:
• Develops, Evaluate and Present to the credit committee loan recommendations for existing and prospective customers.
• Negotiate to properly structured and priced loans consistent with the LEDC’s credit policies and lending practices.
• Prepare effective packages for credit approval circulation and to present packages to the required level of credit authority.
• Maintain close customer contact to ensure continued satisfaction, and to follow or anticipate additional financing needs.
• Monitor and report changes in credit quality.
• Effectively track portfolio quality of his/her portfolio including contact clients with past due payments.
• Ensure that LEDC is in possession of current financial information and that the information has been properly analyzed and on file, and that proper and complete credit files are on hand.
• Participate on promoting LEDC products and services.
• Believes in and promotes the LEDC values, mission and culture, both internally and externally.
• Responsible for the total customer relationship.
• Develop LEDC pre and post loan technical assistance for lending clients.
• Represent LEDC and market LEDC and our services at events, workshops, and conferences.
• Sometimes serve as a funder point of contact to maintain a grant relationship.
Education and Experience Qualifications Required:
• Bachelor's degree, preferably in Accounting or Finance.
• One or more years of experience with a commercial lender.
• Strong verbal and written communication ability and organizational skills.
• Proficient on computer skills using Microsoft Word, Excel, Power Point and Outlook.
• Good level of interpersonal and social skills needed to interact with customers or prospective clients. Good time management skills.
• Hands on experience working with small business owners.
• Bilingual (English/Spanish), and culturally sensitive.
• Demonstrated commitment to working with low income communities.
Salary and Benefits:
• Salary is commensurate with experience, qualifications, and salary history.
• Benefits are competitive within the DC area: compensation currently includes 3% 401K matched savings plan, healthcare plan with ZERO employee contribution, 10 observed holidays, and 4 weeks of vacation per year.
To apply, send cover letter and resume to Leda Hernandez at email@example.com. No telephone calls please.
To learn more about LEDC visit www.ledcmetro.org.
LEDC is an equal opportunity employer; and does not discriminate on the basis of race, color, religion, sex, national origin, disability or sexual orientation.