About the Job
Main Duties and Responsibilities: The Loan Officer is responsible to process and underwrite loan applications, manage and implement collections process, provide technical assistance to CEDS Finance clients, and support the loan department in all manners. Processing and underwriting applications includes tracking applicants; reviewing intake forms, business plans and supporting documents; as well as conducting the financial underwriting. Managing collections includes establishing a client relationship with the borrower, monitoring repayments and booking loan transactions.
Key Duties and Responsibilities:
- Collection: Work with the Investment and Finance Manager to track monthly payments. When clients are late, follow collection guidelines (calling and emailing clients). Work with clients to understand why they are late and problem solve how they might get back on track. Build relationships with clients and conduct regular check-ins to monitor the progress of their businesses. Update client data, including contact information, regularly.
- Outreach: May be called upon to represent CEDS Finance at community outreach events, including hosting a table or trade booth at festivals or forums. Present information on CEDS and explain our products to targeted stakeholders to develop customers and the brand.
- Loan Analysis & Presentation: Analyze and score the loan package in terms of business viability, credit/character, collateral, owner’s equity and skill to operate business. Perform external analysis on applicant, including performing credit scores, OFAC checks and conducting reference checks. Take loans through internal staff review and may be called upon to present them to the External Credit Committee.
- Technical Assistance: Provide guidance and/or training, either in groups or one-to-one sessions, to potential borrowers on issues related to small business management, such as business startup, marketing, bookkeeping, financial strategy and/or cash flow management.
- Report Preparation & Submission: Prepare and submit required reports to funders and Executive Director.
- Procedural Obligation: Ensure CEDS Loan Procedures are properly being implemented, including updating relevant software (DownHome Solutions, MPERS, and other internal tracking database systems), and perfecting collateral.
- Special Projects: Work with the Executive Director on special projects as the need arises. This may entail – among other things – supporting proposal preparation, leading asset distributions, and/or researching new projects or partnerships.
- Other Duties: Perform other duties as assigned by Executive Director and Investment Manager.
- B.A. or B.S. degree is required; preference for a degree in Finance, Economics, Accounting, Business Management. Master’s degree is strongly preferred
- Two to five years’ experience (domestic or international) in commercial underwriting, impact investing, finance, business consulting or business plan preparation
- Strong financial analysis skills including understanding the linkages between the various financial statements and a proficiency in Excel
- Interest in impact investing or socially-minded businesses is desired, experience is preferred
- Ability and experience to work with low income individuals of wide-ranging cultures
- Excellent interpersonal and problem-solving skills
- Ability to work effectively in a team and can operate independently as the tasks are require
- Ability to speak more than one language Is highly recommended. (Spanish preferred)
- Proficiency with MS Office Suite (Word, Excel and PowerPoint). Experience with DownHome Solutions, Equifax, Credit Builder, Photoshop/Gimp and/or Word Press is preferred
- Proactive, professional and hardworking with strong organizational and analytical skills. Flexible with an interest to learn and develop professional skills
CEDS Finance is a non-profit, CDFI whose mission is to support the American Dream of financial self-sufficiency, by assisting refugees, immigrants, and other underserved communities in Metro Denver who desire to own or strengthen businesses. CEDS is a qualified SBA Intermediary Lender and a Community Development Financial Institution (CDFI) that’s facilitated over $4 million of investment capital into the local community and has served individuals from 30 different countries or origin in developing financial assets through small business development.