Loan Officer

Company: Greenwood Archer Capital

Location: Chicago, IL

Job Function: Lending/Loan Operations


Background

Greenwood Archer Capital (GAC), formerly Chicago Neighborhood Initiatives Micro Finance Group, was founded in 2012 to encourage small business development alongside its parent organization, Chicago Neighborhood Initiatives’ (CNI) comprehensive community revitalization efforts through Chicago’s south and west side neighborhoods. GAC has since increased its footprint and provides loans throughout the greater Cook County area. GAC became a certified CDFI in March of 2014 and was designated as a U.S. SBA Micro Intermediary Lender in February of 2015. GAC recognizes the need for lending to businesses in underserved, low-to-moderate income neighborhoods and offers these resources through our small business loan program as a complement to CNI’s wrap-around economic development strategies.

GAC provides underserved entrepreneurs with education and capital to develop and expand their businesses. GAC works to offer resources primarily to new businesses, low-moderate income entrepreneurs, women, and other disadvantaged populations. Its small business loans create new and/or higher paying employment opportunities, retain existing jobs, support local spending, enhance business profitability to increase household income and/or promote the revitalization of commercial strips and at-risk commercial areas in these underserved neighborhoods.

Chicago Neighborhood Initiatives (CNI), GAC’s parent organization, was formed in 2010 to coordinate resources, economic development and neighborhood revitalization efforts in Chicagoland’s low-to-moderate income neighborhoods. CNI seeks to revitalize neighborhoods and create jobs by developing high impact projects, providing financial resources to entrepreneurs and sustaining long-term community partnerships.

 

Summary

Candidate will be responsible for developing and managing a small business loan portfolio. Candidate must be able to identify potential clients, guide them through the loan application process and gather information necessary to review and underwrite request for financing. Candidate will also be charged with providing ongoing business development services and/or referring other resources that will aid in the success and sustainability of business.

Responsibilities

  • Embrace CNI and GAC values and missions
  • Solicit new business lending opportunities through participation in local events focused on small business and entrepreneurial development and by fostering relationships with small business lenders, community organizations, local chambers, small business development centers, accountants, attorneys, and other small business resource providers
  • Respond to general and specific loan inquiries made by prospective borrowers in person, via email, or via telephone
  • Follow up with prospective borrowers and assist through the application process as needed
  • Remain updated on small business resources, local grant opportunities and programs that aid in the development of small businesses
  • Maintain a pipeline tracking system for borrowing leads including opportunities funded and or lost
  • Provide pre-loan and post loan technical assistance and referrals to small business development centers as needs are identified
  • Communicate lending guidelines and requirements to prospective borrowers
  • Interview and screen potential loan applicants to ensure that character, credit worthiness, business and market feasibility is in alignment with GAC lending policies.
  • Collect and review loan application package to ensure completion according to lending guidelines
  • Underwrite and prepare written analysis explaining details of loan request, collateral review, business, and personal aptitude for the repayment of debt in accordance with GAC’s lending policy.
  • Present loan requests to GAC loan committee and respond to questions and concerns
  • Complete site inspections and other due diligence necessary to fund a loan
  • Assist with the closing and funding of approved loans by ensuring that all pre-closing conditions are met
  • Maintain other lending activity reports for management, GAC Board of Directors and funders
  • Assist with marketing and promoting GAC’s products and services through social media and other online platforms
  • Assist with the writing of GAC grant opportunities.
  • Perform all other job-related duties and assignments as requested

Requirements

  • Proficient with Microsoft Excel, Word and PowerPoint
  • Excellent communication skills – written and verbal
  • Ability to read and understand financial statements
  • Knowledge of basic accounting principles
  • Strong analytical and underwriting skills with the ability to pay attention to detail
  • Strong organizational, data and time management skills
  • Excellent customer service and interpersonal skills
  • Associate or bachelor’s degree in business related field or equivalent work experience preferred
  • Licensed/registered/insured reliable vehicle needed to perform off-site work as directed

Compensation and Benefits

GAC offers a competitive compensation package. Comprehensive benefits package includes: medical, dental, vision, life insurance, 401K plan with match, vacation, and paid leave. Salary is commensurate with experience.

How to Apply

Interested applicants should email a cover letter articulating how their skills and experience meet the responsibilities noted above with resume to ncameron@cnigroup.org. Subject line should read: Your Name + Loan Officer. No phone calls please.