Loan Officer, Business Lending

Company: Philadelphia Industrial Development Corporation

Location: Philadelphia, PA

Job Function: Lending/Loan Operations


Philadelphia Industrial Development Corporation (PIDC) is Philadelphia’s public-private economic development corporation. Our mission is to spur investment, support business growth, and foster developments that create jobs, revitalize neighborhoods and drive growth to every corner of Philadelphia. You can learn more about PIDC at

PIDC is committed to driving transformative growth for Philadelphians with a human-centered approach by directing our financial and real estate services, knowledge, and networks toward creating a vibrant and sustainable Philadelphia. To achieve this mission, PIDC focuses on five areas:

  • CAPACITY: Create and sustain internal capacity and external partnerships to scale the availability and breadth of economic development resources and solutions.
  • CAPITAL ACCESS AND SERVICES: Expand financing and business support services to benefit under-resourced communities and marginalized populations.
  • LAND USE: Catalyze development of projects that create quality jobs, advance equity, and promote sustainability. equity, and mote sustainability.
  • KNOWLEDGE AND NETWORKS: Share knowledge and networks to respond to clients, partners, and market needs. knowledge and networks to respond to client
  • EMPLOYEE WELL-BEING: Elevate the physical, mental, and financial well-being of PIDC employees and provide opportunity for each to thrive and grow professionally.

PIDC is governed by a thirty-member Board of Directors, appointed by the Mayor of Philadelphia and the President of the Greater Philadelphia Chamber of Commerce.  The staff includes approximately 60 full-time employees, and PIDC’s current 9-member Senior Leadership Team has a combined 140+ years of experience at PIDC. The organization’s annual budget of approximately $12M is funded by a combination of fees generated by PIDC’s transaction activities, service, and management contracts, and contributed revenue.

Over the past 62 years, PIDC has settled over 7,500 transactions with a diverse range of clients – including more than $17 billion of financing and more than 3,200 acres of land sales – which have leveraged over $30 billion in total investment and assisted in retaining and creating hundreds of thousands of jobs in Philadelphia. For more information, please visit


The ideal person for the position knows how to work in a dynamic collaborative environment and has strong financial analysis and writing skills. They seek to play a pivotal role in a growing loan fund that is committed to mission-oriented lending across the City of Philadelphia.

As part of a team, the position’s responsibilities expand beyond core credit analysis. The Loan Officer is expected to engage in business development efforts aimed at growing our loan portfolio. Working on reaching underserved corners of Philadelphia’s credit markets is central to the role. Versatility and flexibility across a wide spectrum of business tasks are key to the success of the role. This includes the assessment of credit and business risks of loans under consideration using qualitative and quantitative tools. This position will also perform financial analyses and provide credit recommendations based on PIDC’s underwriting criteria, present a final recommendation to a Loan Committee, and support teammates through closing.

Additional responsibilities include providing competent, thorough, courteous, and efficient customer service to both internal and external customers with a minimal level of direction, guidance, and oversight.


Specific Responsibilities include, but are not limited to the following:

  1. Work in partnership with other members of the team on business development activities, including participating in client and/or prospect calls and representing the organization in meetings with potential business partners.
  2. Provide advice and guidance including indicative size and structure of financing.
  3. Prepare Term Sheets outlining indicative loan terms and information needed to complete underwriting.
  4. Perform financial statement spreads analysis and independently interpret them, delivering written reviews of financial information.
  5. Underwrite loan requests from Loan Application handoff to Loan Committee approval. Take ownership of underwriting assignments and ad hoc credit requests based on client expectations and team goals.
  6. Prepare a credit memo, in a timely manner, according to PIDC’s Policies and Procedures that provides a project description, sources and uses, outline of primary risks relevant to the client and deal, accurate risk rating score, and comprehensive collateral, market, and financial analyses.
  7. Coordinate client handoff to Loan Administration, Legal, and Portfolio Management Groups as the primary contacts for settlement, disbursements, and post-closing loan covenant monitoring.
  8. Prepare Commitment Letters outlining indicative loan terms and information needed to close the loan.
  9. Obtain governmental approvals including negotiation and preparation of forms or contracts in coordination with City, State, and Federal officials, as needed.
  10. Contact borrowers to request updated financial information and support portfolio management outreach, as required.



  • Bachelor’s Degree with major coursework in economics, finance, accounting, or a related field. Equivalent credit training and work experience are acceptable.
  • The ideal candidate has a minimum of 5 years of commercial or small business lending and/or 5 years of credit analysis for commercial loan underwriting.
  • Experience in mission-oriented or social impact lending financial analysis, deal structuring, and relationship and loan processing management are desirable.
  • Excellent oral and written communication skills.
  • Proficiency in Salesforce was desirable.
  • Advanced knowledge of MS Office Suite.
  • Flexible, self-motivated, and strategic thinker.
  • Capacity and desire to function in a high-profile, public-private sector environment.
  • Ability to take ownership of assignments and manage multiple projects simultaneously.
  • Bilingual candidates are preferred.
  • Strong interpersonal communication skills.
  • Knowledge of and/or interest in community development, racial equity, and inclusion.
  • Some travel is required, including regular local site visits and conferences outside Philadelphia less than 4 times per year.
  • Must be a resident of the City of Philadelphia or willing to relocate within six (6) months of employment.
  • The right fit would be someone intellectually ambitious, willing to work independently, and always holding themselves accountable to a high bar of performance.

Compensation and Benefits

PIDC offers a competitive compensation package including generous leave time.

How to Apply

Applicants can submit a resume and cover letter to: