Job Title: Commercial Loan Officer
Team: Institute Capital
Reports to: SVP-Operations
Direct reports: none
Type pf position: Commercial Loan origination, analysis, and pre-underwriting
Work schedule: Full time, M-F, 9-5
Exempt status Non-exempt
The Loan Officer (LO) is responsible for originating and analyzing all loan requests for Institute
Capital’s (ICAP) small business, community-based organizations, and affordable housing project lending, and preparing files for underwriting submission. All loans will be originated through the
LoanWell platform but may require additional origination efforts.
The market includes for-profit operating businesses, community-based non-profit organizations, and affordable housing developers, with a targeted effort to minority- and women-owned/led businesses.
The responsibilities of the LO include loan origination with new and existing clients, analyzing business cashflow, working with the business development specialists and loan processors to ensure all documents and information is acquired for underwriting, and performing pre- underwriting analysis.
The LO will also be responsible for working with the Institute’s internal technical assistance
(TA) programs by communicating loan updates with client’s referred by TA program staff. The
LO will coordinate origination and processing efforts with the processing staff of ICAP. As part of the role, the LO will be responsible for using a project management tool to keep all staff involved up to date on loan status.
PRINCIPAL DUTIES & RESPONSIBILITIES
- Coordinate loan origination with loan origination/processing staff, using the Loan Well platform and project management platform, to ensure the client experience is coordinated and clear. Assess loan requests, including an overview analysis of financial statements and management capacity to ensure prospective borrowers are a good fit with our credit and mission standards.
- Provide excellent customer service, including prompt responses, basic technical assistance, and referrals to internal technical assistance programs as appropriate.
Assist in pre-closing process and servicing loans, working with portfolio management team on troubled loans as needed. Perform other duties as may be deemed necessary.
EDUCATION AND/OR EXPERIENCE
- 4-year college degree or relevant experience plus 5 years’ experience in lending, finance, community economic development or related experience. Understanding of real estate development and financing.
KNOWLEDGE, SKILL AND ABILITY
Demonstrate ICAP’s core competencies:
- Mission and Values
- Standards of Excellence
- Teamwork and Collaboration
- Initiative and Follow-Through
- Customer Focus
Excellent communication skills including:
- Ability to communicate clearly and effectively, including developing a clear message and presenting ICAP’s products and programs to individuals and groups.
- Ability to write clearly and concisely, including translating financial and numerical data into written form.
- Ability to build effective business development networks that lead to loan deal flow and closed loans, while building long-term collaborative relationships with organizational allies.
- Ability to work effectively and cooperatively in teams.
- Proficiency with MS Word, Excel, and PowerPoint
- Sensitivity to issues of low-wealth borrowers and a desire to work in a racially and socially diverse organizations.
- The employee must have a valid state driver’s license and access to reliable transportation.
- The employee may be required to travel throughout the Institute’s footprint: NC, VA,
WV, KY, and DC Metro
- The employee may be required to outreach, make presentations, and generally represent the Institute and ICAP in various activities (e.g., conferences, meetings, etc.)
- The employee will be required to adhere to all aspects of the Institute’s Operations
Policies and Procedures.
Note: For new employees, a ninety-day probation period is required. This time gives the employee the opportunity to evaluate and assess if the Institute is compatible for their career goals and aspirations. Likewise, the Institute will assess and evaluate if the employee is the ideal fit for the organization and position responsibilities.
Job Type: Full-time
Pay: $50,000.00 - $60,000.00 per year
- 401(k) matching
- Dental insurance
- Disability insurance
- Health insurance
- Health savings account
- Life insurance
- Paid time off
- Parental leave
- Retirement plan
Typical start time:
Typical end time:
Company's Facebook page:
- Temporarily due to COVID-19
- Remote interview process
- Personal protective equipment provided or required
- Plastic shield at work stations
- Temperature screenings
- Social distancing guidelines in place
- Virtual meetings
- Sanitizing, disinfecting, or cleaning procedures in place