Company: Dorchester Bay Economic Development Corporation
Locations: Boston, MA; , All
Job Function: Lending/Loan Operations
DBEDC acts to build a strong, thriving and diverse community in Boston’s Dorchester neighborhoods. We develop, preserve and sustain affordable housing for rent and for ownership. We create commercial and economic development opportunities. We build community through community organizing and civic engagement activities. We are focused on the concepts of equitable development without displacement and providing opportunities for economic mobility.
Since our founding in 1979, DBEDC has developed and preserved over 1100 units of rental and homeownership housing and 200,000 square feet of commercial space. We have created around 1,000 jobs and involved more than 1,500 young people in after school leadership development and organizing activities. We are one of Boston’s oldest and most established community development organizations with an annual operating budget of almost $6.5 million supporting our programs with a staff of just under 30, and $225M, consists of 18 developments housing 986 units.
As an SBA-approved micro-lender and a Community Development Financial Institution (CDFI), DBEDC is committed to expanding access to capital in our neighborhoods. As one of the founders of the Boston Workforce and Reentry Coalition (BWRC), DBEDC is committed to catalyzing economic mobility for the people it serves.
Reporting to the CEO, the DSB plays a critical role in developing and implementing strategies to expand access to capital and technical assistance in the neighborhoods we serve. The DSB will oversee the agency’s $4.5 million loan fund. The DSB will lead the innovation and expansion of DBEDC technical assistance offerings, programmatic and fund operations, outreach and marketing, new product development, and growth of DBEDC’s loan fund.
What you can expect to do in the role:
● Develop and lead initiatives to support small business in DBEDC service area start, sustain, grow, and thrive.
● Partner with the CEO to develop and implement approaches to lending that prioritize equity and economic justice.
● Motivate, develop, and the lead small business team – currently comprised of three full-time staff – including goal setting, performance evaluation, coordinating duties, and supporting staff’s growth and training.
● Oversee department operations, including: program design and innovation, data collection, compliance, outcomes tracking, program outreach and marketing, and prepare and manage program budgets and reports.
● Grow microlending pipeline, improve current loan products and lending processes; develop new loan products as needed to meet evolving business needs.
● Innovate and expand technical assistance offerings with an orientation toward cultural relevance.
● Represent DBEDC to businesses, civic groups, municipalities, donors, investors, and other stakeholders to convey the availability and impact of DBEDC’s small business technical assistance and capital.
Liaise with local, state, and federal agencies, including the U.S Small Business Administration (SBA), the CDFI Fund, Massachusetts Growth Capital Corporation (MGCC), and Executive Office of Housing and Economic Development (EOHED) to strengthen relationships and ensure compliance with policies.
● Actively identify and pursue funding opportunities; collaborate with Resource Development team as appropriate to prepare grant proposals and applications, contracts, reports, narratives, promotional materials, and other content to secure resources and articulate the impact and successes of DBEDC’s economic opportunity programming.
● As part of the Senior Leadership team, actively contributes to organizational decision-making and advises CEO as needed.
Qualifications – You’ll do well in this role if you:
● Want to work at an organization that is committed to racial equity and serves a diverse community predominantly of color.
● Are people and community-focused and have the ability to engage people from a wide array of backgrounds.
● Have at least four years’ experience in small business technical assistance or small business lending. Strong preference for candidates with SBA and/or CDFI experience. Significant and relevant business development experience may be considered in lieu of lending experience.
● Have at least two years’ experiencing supervising, motivating, and mentoring staff. Strong preference for significant experience managing top-performing teams.
● Have substantial knowledge of the small business ecosystems and familiarity with mission-based resources and partners.
● Have experience collecting, analyzing, and reporting program data, developing and managing program or operational budgets, and writing grants and meeting grant deliverables.
● Have an understanding of and demonstrated commitment to racial equity.
● If you are highly motivated, nimble, and comfortable navigating change and ambiguity. Ability to function autonomously and be a strong collaborator is required.
● Can work occasional evening or weekend to support activities needed outside of regular business hours.
● Can work at physical locations.
It would be additionally phenomenal if you:
● Have experience using a CRM like Salesforce or similar program.
● Have experience with lending, loan tracking, and investment software.
● Can effectively communicate in English as well as Spanish, Cape Verdean Kriolu, Haitian Kreyòl, or Vietnamese.
● Have experience working for a mission-based organization that serves a community of color.
● Have relevant lived experience similar to the community DBEDC serves.
Compensation and Benefits
Other important details:
● Don’t be discouraged from applying if you don’t “check all the boxes”. We appreciate the uniqueness of candidates and there is no “perfect’ resume!
● As part of our commitment to equity, DBEDC does not negotiate compensation offers, as research shows that salary negotiations disadvantage People of Color and women.
DBEDC’s total compensation package features an amazing set of benefits which we considered towards the overall compensation, including:
● (5) Generous cost-sharing medical insurance packages for selection and no eligible waiting period.
● Employer paid Dental and Vision coverage
● Flexible Spending Account and Dependent Care Assistance program
● Short-Term Disability, Long-Term Disability, Life and Accident Death, plus optional life.
● Commuter Benefits Program
● Employee Wellbeing On-Demand Services
● Perks at Work Program
● 3 personal days
● 3 weeks’ vacation to start
● 15 days of sick
● 13 paid holidays
● 403 (b) plan with generous employer contribution
● Flexible hybrid work environment
● Salary range: $120,000 – $135,000.
How to Apply
Please submit a cover letter and cover letter that describes your interest in the role and how your qualifications and experience align. Send all applications to email@example.com. Please include “Director of Small Business” in the subject line. No phone calls, please, and thank you.