Loan Officer

Background

VestedIn has been referred to as the “economic engine” of the community. First serving West Philadelphia’s Empowerment Zone and now serving six additional counties in Pennsylvania, New Jersey, and Delaware, VestedIn believes in uplifting the three components that are at the heart of every neighborhood: Business…Community…You! 

Our mission is to facilitate empowerment and wealth building through investment in communities. VestedIn takes the moving parts of our community and converts that power into tangible actions that propels motion that lasts for generations. 

Summary

The Loan Officer will play a critical role in evaluating, structuring, and managing loan applications for small businesses and entrepreneurs in underserved communities in the greater Philadelphia region. This hybrid position offers a balance of remote work and in-person engagement to build meaningful relationships with the VestedIn team, clients and board members. 

Responsibilities

• • Loan Origination and Underwriting: 
    • • Identify potential small business clients through networking and business development activities. 

     

    • • Assess the creditworthiness of small business applicants, using CDFI underwriting standards. 

     

    • • Gather and analyze financial statements, business plans, and other relevant documents. 

     

    • • Prepare detailed loan packages and make recommendations for approval to VestedIn’s Loan Committee and/or the Board of Directors.

     

     

 

• • Client Relationship Management: 
    • • Build and maintain strong relationships with clients, ensuring exceptional customer service. 

     

    • • Provide technical assistance to applicants, including financial literacy and loan application guidance. 

     

    • • Conduct site visits to understand borrowers’ needs and verify project feasibility. 

     

     

 

• • Portfolio Management: 
    • • Monitor and manage a portfolio of active loans, ensuring timely payments and compliance with loan terms. 

     

    • • Address delinquency issues through proactive communication and problem-solving. 

     

     

 

• • Community Engagement and Outreach: 
    • • Represent the organization at community events, workshops, and networking opportunities. 

     

    • • Promote loan products and services to underserved markets. 

     

     

 

• • Reporting and Compliance: 
    • • Maintain accurate records and prepare reports on loan activities. 

     

    • • Ensure compliance with organizational policies and regulatory requirements 

     

     

 

Requirements

• • 5+ years of experience in lending, credit analysis, or financial services.  

• • Knowledge of CDFI operations and programs. 

• • Experience working with CRM systems and loan management software. 

• • Proficiency in analyzing financial statements and business plans. 

• • Strong interpersonal and communication skills with a customer-focused mindset. 

• • Familiarity with small business needs and challenges in underserved communities. 

• • Proficiency in Microsoft Office, with strong skills in Excel. 

• • Capacity to learn departmental software systems and databases, including but not limited to Customer Relationship Management software, Loan Portfolio Management Systems and cloud-based programs like Microsoft 365 and Power BI. 

• • Ability to maintain a high degree of accuracy and attention to detail. 

• • Ability to work independently. 

• • Strong written and verbal communication skills. 

• • Strong analytical skills. 

• • Ability to work effectively with racially and socially diverse individuals. 

• • Willingness and ability to travel within the service area to conduct site visits and to meet with borrowers and prospects. 

• • Ability to work effectively with cooperatives, community-based organizations, banks, public sector organizations, and individuals from various economic and cultural circumstances. 

Preferred: 

• • Bachelor’s degree in Business Administration, Economics, Accounting, Finance, or a related field.

Compensation and Benefits

• • Competitive salary commensurate with experience. 

• • Flexible hybrid work environment. 

• • Comprehensive benefits package, including health, dental, and retirement plans. 

• • Paid Time Off (PTO). 

• • Long-Term and Short-Term Disability. 

• • 10 Federal Holidays plus Christmas Eve and New Year’s Eve. 

• • Professional development opportunities. 

How to Apply

Interested candidates should submit their resume and cover letter to info@vestedin.org with the subject line: Loan Officer Application – [Your Name].

Applications will be reviewed on a rolling basis.