Loan Officer

Background

ProsperUs Detroit is a community economic development initiative that supports entrepreneurs and small business development in neighborhoods throughout Detroit, Hamtramck, Highland Park, and Inkster. We are on a mission to advance economic equity in under-resourced communities by supporting entrepreneurs with opportunities and capital needed to build businesses, generational wealth, and vibrant neighborhoods. We do this by delivering radically supportive and culturally competent entrepreneurship training, financial coaching, technical assistance, and microlending. ProsperUs approaches this work with the belief that residents, small businesses, and community organizations in all neighborhoods can engage and revitalize their own communities.

Summary

As a loan officer at ProsperUs Detroit, you will approach the work with an eagerness to support small businesses and entrepreneurs of color at a community development financial institution (CDFI) working in low- to moderate-income communities. You will collaborate with entrepreneurs and business owners to access capital and invest in the growth of their microenterprise. You will collaborate with the team to identify solutions to overcome barriers, bolster relationships with entrepreneurs and enhance capital solutions consistent with the organization’s mission. You are great at building relationships one-on-one, advocating for others, and communicating effectively with individuals from various backgrounds. We are excited to welcome team members who are focused on intersectional equity in the context of entrepreneurship in Detroit, Hamtramck, Highland Park, and Inkster.

Responsibilities

1. Capital Access & Borrower Support
   • You will be excited about partnering with potential borrowers to set goals related to accessing capital from origination through closing the loan;
   • You will be responsible for facilitating borrower progress toward accessing capital with ProsperUs through concise attention to project management, including collecting, requesting, and compiling required documentation from potential borrowers with an empathic approach and following up with potential borrowers on referrals to support services when applicable;
   • You will be accountable for maintaining files and database records for all borrowers including the intake form, full loan application, underwriting documents, and final loan presentation;
   • Monthly, you will utilize the underwriting process to prepare loan presentations that will be shared with the ProsperUs Loan Committee for approval;
   • You will understand and implement all guidelines related to confidentiality, regulatory, and quality-control requirements;
   • You will maintain intentional relationships with borrowers throughout the duration of their loans and beyond, remaining their primary point of contact at the organization. This includes providing coaching, business services, and other interventions to ensure borrowers are supported in sustaining their business growth goals;
   • You will enhance and execute processes to ensure the efficacy of ProsperUs’ approach to administering practical assistance and coaching to borrowers, focusing on delivering tailored support that addresses their unique needs and promotes long-term success;
   • You will maintain, iterate, and execute processes to ensure that ProsperUs’ approach to administering capital products and services is effective and you are contributing meaningfully to deployment goals; and
   • You will ensure intentional communication with program participants and borrowers through responsive, empathetic communication while creating new ways to interact with the growing ProsperUs network.
2. Outreach & Strategic Growth
   • You will cultivate strong relationships with business owners, entrepreneurs, and community stakeholders in the neighborhoods of Detroit, Hamtramck, Highland Park, and Inkster with intentionality toward ProsperUs program participants, borrowers, and service providers;
   • Regularly, you will develop and conduct presentations related to ProsperUs lending for potential borrowers in ProsperUs programming and other associated opportunities;
   • You will manage capital initiatives by developing goals, strategic planning activities, and providing recommendations and/or reports to leadership;
   • You will support capturing data and metrics related to ProsperUs’ lending practices for internal use, sharing with the board of directors, and completing grant reporting functions;
   • You will be a thought partner and share enthusiasm for deepening the sustainability of capital access initiatives at ProsperUs; and
   • In collaboration with the Capital Team, you will identify and support opportunities to grow ProsperUs capital access initiatives in alignment with the strategic direction of the organization.
3. Some other activities you will do to support ProsperUs:
   • Ensure all potential and active borrower information is maintained in Salesforce with attention to data-driven results;
   • Identify opportunities to improve programming, make recommendations to leadership, and collaborate on program enhancements;
   • Represent ProsperUs within the regional entrepreneurship ecosystem and in various networks locally and nationally, as required;
   • Continue enhancing knowledge and expertise in equitable entrepreneurship, community economic development, and race equity; and
   • Assist with special projects as assigned and other tasks deemed necessary to achieve overall goals and to operate a successful program.

Requirements

• Experience and/or knowledge of business financials, banking principles, and accessing capital. An emphasis on entrepreneurship and economic development is a plus.
• ​​​​​​​At least two years of proven experience with skills in portfolio / asset management, commercial lending, loan servicing, compliance, or reporting for small businesses. Ideally, an emphasis of understanding businesses and entrepreneurs who encounter challenges related to systemic and institutional inequity. Bachelor’s degree in a related field encouraged.
• Strong technical skills with Microsoft Office Suite (Outlook, Word, Excel, and PowerPoint) and Nitro Pro (or comparable tools), operating systems, and networks.
• Flexibility in days and hours available for scheduled work, including regular evening engagements and occasional weekend commitments.
• Strong written and verbal communication skills in English. The ability to communicate in Spanish, Arabic, French, or Bangla is a plus.

Compensation and Benefits

The salary range for this position is $55,000 to $65,000; in addition, we offer these supports to help you manage your mental, emotional, and physical health:

• Holidays: You will have 11 nationally recognized holidays, an additional floating holiday to be used when you choose, and more time to rest around the winter holidays.

• Paid Time Off: When you join, you will have 15 days of paid time off (PTO) that you can use 90 days after joining the team.

• Benefits Plans: You can choose to join the organization’s benefits plan with health insurance (most paid by organization), org-paid vision, and org-paid dental.

• Retirement Savings: You can invest in the org-sponsored 401(k) and ProsperUs will match a portion of your contributions.

• Parental Leave: You will have access to parental leave for giving birth, adoption, fostering, and supporting a partner who is giving birth.

• Family-Friendly: ProsperUs is a family-friendly work environment with accommodations for nursing parents, respect for childcare needs and practices, parental leave, and other supports.

• Continuous Learning: We care about your success. You will create professional development goals to collaborate on with your supervisor, and we regularly check-in about how it’s going with Quarterly Conversations focused on goals and values.

• Flexible Schedule: Team members must be available 9 AM – 3 PM Eastern Time. We participate in a variety of events and collaborations, so we encourage team members to work additional hours with a schedule that works for them.

• Flexible Work Environment: We encourage hybrid home / office work. Team members primarily work in-person, with three remote workdays allowed per week. In-person events and engagements are a regular responsibility of all roles at ProsperUs.

How to Apply

https://prosperus.applytojob.com/apply/VEANlbOpxQ/Loan-Officer