Job Title: Small Business Loan Officer and Underwriter
FLSA Status: Exempt Position
Last Revision Date: 1/16/2019
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 Wheaton, MD. This full-time position will play a key role in Montgomery County, MD. The position will support the Risk Manager and Senior Lending Officer and will work alongside a highly motivated team. 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. Although this role is intended to work within the Baltimore metropolitan area, the program’s footprint covers over 20 counties in the region and soon will be expanding to Puerto Rico.
Essential Job Duties/Responsibilities:
- Help the organization generate a constant inflow of new lending clients in to the pipeline
- 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
- 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.
- 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
- Excellent communication and presentation skills, both written and verbal
- Proficient computer skills using Microsoft Word, Excel, PowerPoint 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 small business development as a tool for community-based economic development
Salary and Benefits:
- Salary range $42K-45K, commensurate with experience, qualifications, and salary history
- Benefits: compensation currently includes, healthcare plan with ZERO employee contribution, 10 observed holidays, and 4 weeks of vacation per year.
To apply, send cover letter and resume to Rodrigo Cordon, Risk Manager at firstname.lastname@example.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.
Applicant must be authorized to work in the United States.