Job Title: Small Business Loan Officer and Underwriter (Puerto Rico)
FLSA Status: Exempt Position
Last Revision Date: 06/18/2019
Position Closing date: 2/1/20
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 D.C. area 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 Mayaguez, Puerto Rico. This full-time position will play a key role in our Puerto Rico expansion. The position will support the Senior Lending Officer and will work alongside a highly motivated team based in Washington, DC. Qualified candidates must possess a diverse set of skills including small business development experience and experience with diverse populations.
LEDC’s small business group assists low-to-moderate income entrepreneurs acquire the skills and knowledge to successfully open and grow their businesses, including assistance obtaining licenses and permits, marketing, recordkeeping and business planning. Our clients range from small start-ups to established restaurants with multiple employees and locations. LEDC is also a US Treasury certified Community Development Financial Institution (CDFI) and a Small Business Administration (SBA) Microloan Intermediary and Community Advantage lender. LEDC suite of financial products range from $500 to $250,000, ranging from consumer credit building loans to small business capital transactions.
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
- Assist our portfolio management team in working with clients whose loans are past due and/or their business is showing signs of trouble
- Plan and develop access to capital workshops that provide small business owners with the necessary information to obtain financing.
- 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.
- Cultivate client base for one-on-one coaching and group trainings through outreach via partner organizations and community events.
- 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:
- Bachelor's degree in Business Administration, Accounting or Finance (preferred)
- Experience with a commercial lender a plus
- 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
- Bilingual (English/Spanish)
- 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
Compensation currently includes healthcare plan with ZERO employee contribution, 10 observed holidays, and 4 weeks of vacation per.
Salary is negotiable depending on experience and qualifications.
LEDC is an affirmative action, equal opportunity employer; women and people of color are strongly encouraged to apply.
To apply, send cover letter and resume to Emi Reyes, email@example.com. No phone calls, please.