Loan Officer

Background

Michigan Women Forward is a community development financial institution whose mission is to expand economic opportunity for women and entrepreneurs of color by providing access to capital and business resources. Michigan Women Forward celebrates outstanding women by honoring their leadership contributions to the community, economy and our state.

Michigan Women Forward’s vision is to create an inclusive economy for the state of Michigan where women and people of color can create viable businesses that build long-term sustainable wealth.

Summary

Loan Officer for in Southeast Michigan with responsibilities including:  sourcing loan applicants, working with loan applicants so they are loan ready, reviewing and analyzing financial information as part of underwriting, presenting to loan committee, and preparing loan documents for closing.

Responsibilities

Responsibilities include source loan applicants in Southeast Michigan and communities north of
metro Detroit including Flint, work with loan applicants so they are loan ready, review and analyze
financial information as part of underwriting, loan committee presentations, and prepare loan
documents related to microloan funding to Michigan Women Forward (MWF) entrepreneurs (existing or
new). This position requires sound business acumen, high-level collaboration and influencing skills
to achieve high performance. Ability to evaluate financial projections in the context of
reasonableness and assess the applicant’s ability and willingness to repay the loan. This position
also requires skills that balance internal process management responsibility with external
visibility that is vital to achieve the business goals of MWF.

ESSENTIAL JOB FUNCTIONS:

• Builds trust with and delivers outstanding customer experience with potential loan clients
  throughout the lending process.
• Engages in the community with entrepreneurs, banks, and local organizations to source loan
  applications from entrepreneurs whose businesses are able to submit loan ready applications
• Prepares a set number of loans to present for loan committee meetings that occur bi-weekly,
  including accurate underwriting spreadsheets and business operations analysis, as well as
  projections consistent with credit policy and written narrative:
• Evaluates new business plans and loan applications to ensure proper completion and submission of
  required financial information to facilitate financial credit analysis and loan readiness.
• Reviews and analyzes financial/accounting data, audits, legal documents, contracts, and other
  records and documents to complete an accurate financial analysis for each loan client.
• Reviews business projections and assumptions for reasonableness to complete the financial
  analysis and underwriting process.
• Provides technical assistance (as needed) with financial schedules including cash flow
  forecasts, financial statements, and related processes for smooth business operations.
• Analyzes revenues, expenditures, and current and future debt obligations; completes debt
  coverage calculations and future revenue and expenditure and ratio tests and justifications.
• Identifies the risks of an approved loan and discusses these risks with the client. Collaborates
  to create a plan for post loan technical assistance.
• Performs client site visits.
• Facilitates loan closing meetings with clients in person or virtually.
• Prepares check requests for loan disbursements and submits for approval.
• Represents MWF by attending funder & engagement sessions (i.e., collaborative meetings, funder
  panels, and partner organization events) as requested.
• Performs other duties as assigned.

Requirements

• Minimum of three years of experience in the areas of lending, banking, and finance
• Experience and solid knowledge of small business or commercial loan processing and loan acquisition practices and processes
• Previous experience in meeting quantifiable lending goals.
• Strong attention to detail, results-oriented
• Commitment to excellent customer service
• Ability to prioritize and manage multiple responsibilities simultaneously
• Proven accomplishment in expanding business and relationship development
• Bachelor’s Degree in Finance, Accounting, Business, or other suitable degree

Compensation and Benefits

Salary will be commensurate with the skills and experience of the selected candidate.

How to Apply

Please use this link to apply on MWF’s website: https://miwf.org/about-us/careers/test-loan-officer/