Loan Associate/Senior Loan Associate – Small Business

Company: Business Consortium Fund

Locations: Oakland, CA; New York, NY

Job Function: Lending/Loan Operations


Background

Business Consortium Fund Inc (BCF) seeks a Loan Associate to strengthen its lending team. BCF’s mission is to empower entrepreneurs by advancing equitable capital access for business owners of color operating in supply chains of U.S. corporations and government entities. The ideal candidate will have a passion for community and economic development through small business lending and share our vision of creating a thriving economy with equitable capital access for entrepreneurs of color, including eliminating the racial wealth gap.  The position reports to the Chief Lending Officer.

 

Summary

The Loan Associate is a critical part of BCF’s small and growing lending team, which prizes innovation and collaboration. This position offers excellent advancement opportunities, as Business Consortium Fund is in a critical growth phase and expects to multiply the size of its portfolio during the next three years. The Loan Associate is primarily responsible for reviewing and analyzing commercial loan applications to assess the likelihood of a borrower honoring financial obligations, ensuring proper documentation and verifying that compliance guidelines are met. The Loan Associate shall examine financial statements (tax returns, interim and annual income statements and balance sheets, account receivable aging schedules, etc.) and conduct industry analyses to make appropriate credit recommendations. The position is also responsible for certain aspects of portfolio management and reporting.

The position will initially be remote, and proximity to New York, New York or Oakland, CA is preferred.

Responsibilities

Job Responsibilities:

  • Work closely with the Chief Lending Officer to reach loan production goals:
    • Monitor new loan applications via the organizations’ online loan origination portal
    • Support client relationship management
    • Lead the preparation and negotiation of complex transactions from screening to origination
    • Spread financial statements and draft the credit memo, including analyzing financial performance and condition; develop cash flow projections to evaluate debt capacity
    • Adhere to credit policy and guidelines; use a combination of judgment and ratio analysis to determine the degree of risk posed by each opportunity
    • Recommend approval/decline to the CLO and present to loan committee as needed
    • Coordinate proper loan documentation and assist outside counsel with loan closings
  • Partner with loan administrator to streamline processes, enhance reporting infrastructure, and monitor corporate portfolio asset quality on an ongoing basis
    • Accurately spread and analyze quarterly and annual borrower financial statements and prepare various analyses and management reports
    • Routinely monitor loans for accurate documentation and compliance
    • Carefully analyze post-close loan data and produce clear and objective loan reports
  • Expand BCF’s visibility and presence by attending and exhibiting at conferences. Meet with borrowers and partners and attend conferences to become knowledgeable in BCF’s markets
  • Identify and assist with other special projects as needed
  • Ability to travel 20% of the time (once permitted)

Requirements

Professional Skills, Education and Experience

  • Bachelor’s degree preferred, MBA, Masters Degree, or CFA a plus. Education level will be considered on a holistic basis considering both education and work experience
  • Minimum of 5 years of experience prioritizing and managing multiple projects, assignments and meeting tight deadlines
  • Minimum of 5 years of lending experience in Community Development lending preferred
  • Demonstrated ability to take initiative and leverage knowledge and resources to solve problems
  • Ability to accurately spread financial statements
  • Strong financial and credit analysis skills
  • Strong attention to detail, analytical, critical thinking and organization skills
  • Strong written and verbal communication skills; ability to write a credit memo with little supervision
  • Strong proficiency with due diligence, loan documentation and closing process, and creating internal relationships
  • Familiarity with federal, state, and local community development programs, and knowledge of Community Development Financial Institutions (CDFIs) is a plus
  • Advanced user of Office Suite. Experience with Salesforce is a plus

Compensation and Benefits

Salary and Benefits

  • Competitive salary structure
  • Excellent healthcare benefits
  • 401K
  • Opportunities for growth

How to Apply

To apply:

Please send your resume and a cover letter to Ms Socorro Vallejo at svallejo@bcfcapital.com