Community Development Loan Officer
Company: South Carolina Community Loan Fund
Locations: Spartanburg, SC; Hybrid, SC
Job Function: Lending/Loan Operations
South Carolina Community Loan Fund (SCCLF) is a statewide, nonprofit Community Development Financial Institution (CDFI) with offices in Charleston, Columbia, and Spartanburg. SCCLF’s mission is to advance equitable access to capital for people of color, women, low-income individuals, and those in rural communities. Acknowledging that the need for our work is rooted in generations of injustice and disinvestment, our purpose is to help people by providing loans, technical assistance, and advocacy for the development of affordable housing, healthy food retail, community facilities, and community businesses throughout South Carolina.
The Community Development Loan Officer will be responsible for the growth of SCCLF’s loan portfolio in South Carolina. The primary responsibility of the Loan Officer is to meet annual lending goals while developing a loan portfolio that is healthy and responsive to the needs of SCCLF’s constituency. The Loan Officer will originate and underwrite loans and assist with the closing of loans with the Commercial Loan Portfolio Manager.
The successful candidate will be proficient in credit analysis and have in-depth knowledge of community and economic development. (This experience requirement does not include individuals with mortgage lending backgrounds)
The Community Development Loan Officer will report to the Chief Lending Officer.
• Lending: Responsible for meeting assigned annual lending goals, and assisting clients in securing SCCLF loans for affordable housing, healthy food retail, community facilities, and community businesses. Support clients through all stages of the lending process from originating deals to assisting with applications, conducting financial analyses, preliminary underwriting and loan structuring, preparing documents for loan approval, and presenting proposals to loan committees.
• Business Development: Build relationships with banking and community partners to advance SCCLF’s mission. Identify co-lending opportunities. Identify events, workshops, and other venues for SCCLF to present information about its loan products. Engage in community service opportunities (boards, advisory committees, etc.) that advance the mission of SCCLF.
• Business Technical Assistance: Responsible for executing technical assistance strategy to support lending goals. Will also work with clients to evaluate their overall financial health, determine financing needs, verify credit readiness, and assess project feasibility. Assist and advise loan applicants by educating them on the loan process, responding to questions and requests, and following up regarding incomplete documentation. Make recommendations and offer resources to applicants that will improve loan applications and the probability of approval.
• Assessment and Knowledge Sharing: Represent SCCLF in public forums, facilitate community outreach efforts, and build referral networks. Ensure that data collection meets the organization’s needs. Enter all borrower data into Salesforce.
• Excellent credit analysis skills (i.e. Proficient in “The 5 Cs of Credit”)
• Ability to spread income statements and balance sheets
• Knowledge of non-profit and for-profit accounting
• Understanding of community development finance
• Evidence of significant external client contact and business development skills
• Capacity to prioritize multiple responsibilities to meet internal and customer deadlines while ensuring credit integrity
• Ability to provide creative and flexible solutions to loan applicants by identifying relevant risks and mitigation factors
• Commitment to mission-driven lending
EDUCATION and EXPERIENCE
• At least three years of commercial lending and credit (excluding mortgage lending)
• Experience with CDFI industry preferred and/or experience with community development
• Bachelor’s degree or equivalent experience
• Experience with Salesforce and other lending software (i.e. FISCAL) -or the ability to quickly learn
• Strong written, and oral communication skills and presentation skills
• Proficient with MS Office applications and virtual conferencing platforms (Teams, Zoom, etc.)
• Occasional out-of-town travel may be required
Compensation and Benefits
The salary for this position starts at $70,000 plus commissions and is commensurate with experience. Although the position is primarily hybrid, the candidate must live within one hour’s commute from either the Charleston, Greenville, or Columbia, South Carolina offices.
After sixty (60) days of employment, eligibility for benefits includes:
• Medical, dental, and vision insurance
• Life and long-term disability insurance
• Dependent/Healthcare Flexible Spending (FSA) accounts
• Commuter benefits
• Company-sponsored discounts
• After ninety (90) days, the company will contribute 3% of the annual salary toward a 403(b)-retirement plan
• Unlimited Paid Time Off (PTO) + 14 paid holidays per year and a weeklong winter holiday
• SCCLF also offers a $2,000 professional development stipend and a $25 cell phone stipend.
How to Apply