Job Title: Small Business Loan Officer and Underwriter
FLSA Status: Exempt Position
Last Revision Date: 01/06/2021
LEDC Synopsis: The Latino Economic Development Center (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 DMV area and Puerto Rico residents by equipping them with the skills and tools to achieve financial independence and become leaders in their communities.
Position Summary: LEDC is seeking candidates for our Small Business Lending Officer position based in Baltimore City. Qualified candidates must possess a diverse set of skills including small business development experience and experience with diverse populations.
LEDC is a US Treasury certified Community Development Financial Institution (CDFI) and a Small Business Administration (SBA) Microloan Intermediary and Community Advantage lender. LEDC currently lends between $5,000- $250,000 for small or emerging businesses unable to obtain financing from mainstream banks and from $500-$2,500 for consumers to build or repair credit. The goal of the Lending program is to provide first step financing to promising entrepreneurs, and we ultimately seek to “graduate” them to larger loans with traditional lenders, thereby increasing their capacity to create wealth for their owners and economic opportunity for the communities they serve. Many businesses in the low income communities we serve are unable to start or grow due to lack of capital. We provide financing to such businesses, helping cleaning companies, carryout restaurants, hair salons, and businesses in any field imaginable to start or grow their businesses.
Essential Job Duties/Responsibilities:
- Help the organization generate a constant inflow of new lending clients
- Underwrite small business loan transactions, including business plan reviewing, financial analysis and due diligence
- Prepare credit analysis and recommend memos for review and approval
- Verify feasibility and structure of proposed loan and the character, capacity, collateral and cash flow of the borrowers
- Meet individual and regional goals and objectives as assigned
- Develop and maintain relationships with individuals and organizations with strong community ties that are consistent with LEDC's mission. These organizations may include, but are not limited to, credit unions, banks, certified development companies, chambers of commerce, governmental agencies, etc.
- Assist our portfolio management team in working with clients whose loans are past due and/or their business is showing signs of trouble
- Support portfolio team with ad hoc reports as needed
- Provide one-on-one coaching to aspiring and existing small businesses to help improve their core business skills and navigate the licensing/registration process---both onsite and offsite at partner organizations in the community
- Plan and develop skill building group trainings that provide small business owners with the business tools needed to be successful
- Maintain close customer contact to ensure continued satisfaction, and to follow or anticipate additional financing needs
- Monitor and report changes in credit quality
- Ensure that LEDC is in possession of current financial information and that proper and complete credit files are on hand
- Participate in promoting LEDC products and services at different functions
Education and Experience Qualifications Required:
- Bilingual (English/Spanish)
- 2+ years of experience with a commercial lender (preferred)
- Bachelor's degree in Business Administration, Accounting or Finance (preferred)
- Experience providing small business technical assistance and/or training (preferred)
- Excellent communication and presentation skills, both written and verbal
- Proficient computer skills using Microsoft Word, Excel, Power Point and Outlook
- Demonstrated commitment to working with low income communities
- Hands on experience working with small business owners is a plus
- Available to work occasional nights and weekends as needed
- Experience and/or familiarity with small business financial management and marketing
- Understanding of small business development as a tool for community-based economic development
To apply, please send cover letter and resume to Omar Velasco at [email protected]
LEDC is an EEO employer committed to providing equal employment opportunities to all applicants and employees. In accordance with applicable laws, regulations, and Executive Orders, LEDC takes affirmative action to ensure that applicants and employees covered are not discriminated against because of their race, color, religion, national origin, sex (gender), age, disability, pregnancy, marital status, sexual orientation, personal appearance, gender identity or expression, family responsibilities, political affiliation, veteran status, genetic information, or any other characteristic that is protected by applicable law. For more information about your equal employment opportunity rights, please view this poster: EEO is the Law. LEDC also participates in E-Verify.