Small Business Loan Officer

Title: Small Business Loan Officer Reports to: Business Lending Manager Pay Range: $85,000 - $95,000 Location: San Francisco, CA. This is a hybrid position, and candidates must be able to work three days per week in our San Francisco office. Apply here: JOIN OUR MEDA TEAM Mission Economic Development Agency (MEDA) - Building on its 49-year history, MEDA is advancing innovative approaches to asset development. Its efforts are focused on serving low-income, Spanish-speaking San Franciscans. Our direct service programs serve 7,500 individuals each year through homeownership counseling and foreclosure intervention, business development, digital literacy, workforce development, financial education and free tax preparation. We also devote resources to research and evaluation, community organizing and advocacy. In the process, MEDA is helping to develop best practices in the field. In 2015 MEDA launched a Community Development Financial Institution (CDFI) - Fondo Adelante - to provide loans throughout the San Francisco Bay Area to Latino-owned small businesses that are currently underserved by traditional and non-traditional lenders alike. Fondo Adelante's initial micro and small business loan products provide loans of up to $100,000 to qualifying business owners. The CDFI launched several emergency loan programs to respond to COVID-19's impact on Bay Area small businesses and deployed more than $10 million in no-interest or low-interest loans. Fondo Adelante recently integrated its lending team with MEDA's Business Development Program to better facilitate pre- and post-loan closing technical assistance (offered in both English and Spanish) for small business borrowers. With this integration of business capital and business coaching support, MEDA is meeting the needs of low-income, Latino-owned businesses to support asset-building through business growth and job creation in the San Francisco Bay Area. YOUR CAREER OPPORTUNITY MEDA's CDFI, Fondo Adelante, is seeking a qualified Small Business Loan Officer who will originate, package, and close qualified applications for business loans of up to $100,000 and provide business coaching sessions for our clients (in group and one-on-one). Qualified candidates will have demonstrated the ability to build business relationships within Latino and immigrant communities to generate referrals and source leads that meet Fondo Adelante's lending criteria and mission. Fondo Adelante's target market includes a wide spectrum of businesses, ranging from small, informal cash-based businesses with no formal credit and limited documentation to businesses with more than $1,000,000 in sales and 20+ employees. This position reports to the Business Lending Manager and works closely with the manager to meet loan production goals. Fondo Adelante's portfolio has grown rapidly through its emergency lending response to COVID-19, thus, this is an exciting opportunity to join an ambitious, growing community loan fund and help strengthen the Latino and immigrant small business communities of the San Francisco Bay Area. DUTIES & RESPONSIBILITIES Build relationships and a referral base among small business owners, business associations, and community partners through participating in community events in the San Francisco Bay Area, especially within Latino and immigrant communities. Generate a strong pipeline of qualified loan applications that meet Fondo Adelante's lending criteria and mission. Process complete application packages, including screening packages against product guidelines and required documents, entering and processing applications in our system, gathering all required documents and closing out loans (approvals or declines) within a target timeframe. Analyze basic cash flow and repayment ability through interviews with business owners and review of loan applications, tax returns, bank statements, references, credit reports, employment and income verification, and collateral. Make decisive loan recommendations and clearly articulate a compelling case for loan decisions to appropriate approval authorities. Monitor and help collect on Fondo Adelante's portfolio of small business loans. Provide one-on-one coaching to Business Development Program clients - individuals who set achievable goals unique to self-employed individuals and small business owners. Assist clients in assessing and resolving current financial challenges, while providing a wide lens on their financial health to shift the approach to proactive financial management. Deliver exceptional customer service to foster client trust and enhance Fondo Adelante's brand and reputation in the community. Ensure a quick turnaround time to meet client needs effectively. Attend business site visits, networking events, and other outreach events. YOUR KEYS TO SUCCESS To perform successfully in this role, you will need to leverage these key qualifications: Experience: Minimum of 2 years in small business and/or commercial lending as a loan officer at a microfinance institution, bank, credit union, or similar financial institution. CDFI/Community Development Knowledge: Familiarity with the CDFI sector or community development finance is a strong asset. Sales Performance: Proven ability to consistently meet or exceed monthly loan goals. Analytical Skills: Strong analytical and math skills, with experience in credit analysis and risk assessment; comfortable using both qualitative and quantitative data in decision-making. Proactive Approach: Self-starter who exceeds job expectations to achieve goals. Communication Skills: Excellent written and verbal communication skills for effective client interactions and reporting. Community Commitment: Passion for supporting underserved communities and promoting economic development; knowledge of or experience with under-banked, low-income, and underserved populations is highly desirable. Technical Proficiency: Working knowledge of Excel is required, along with a willingness to learn other software for managing loan portfolios. Entrepreneurial Mindset: Demonstrates creativity and openness to exploring new ideas, systems, and financial tools. Mission Alignment: Commitment to MEDA's mission and its place-based approach to economic and racial justice. Language Skills: Bilingual in English and Spanish is required. YOUR MEDA EXPERIENCE Do meaningful work in an innovative workplace while being challenged for your professional growth. Joining MEDA means having meaningful experiences that develop achievers - from across the Mission neighborhood and from within our organization. We find meaning and fulfillment in our work as we see our community thrive and are driven to achieve better outcomes by challenging ourselves to innovate in our ways of working. We offer a market-leading benefits program that reflects MEDA's values and mission. We invest in people's lives and support our own people's health and financial well-being. Our core benefits include: Comprehensive medical, vision, and dental insurance for employees and their dependents - 100 percent covered by MEDA 401(k) plan for employees Generous paid time off - with a minimum of 20 PTO days for new employees, and 13 holidays Employee Assistance Program that offers free financial, legal, and mental health counseling to employees and their families Other forms of voluntary benefits Applicants must be authorized to work for ANY employer in the U.S. We are unable to sponsor or take over sponsorship of an employment Visa at this time.

Created: 2024-11-05