Loan Underwriter, Community Facilities

Company: Cinnaire Corporation

Locations: Lansing, MI; Detroit, MI; Grand Rapids, MI; Chicago, IL; Indianapolis, IN; Madison, WI; Wilmington, DE

Job Function: Lending/Loan Operations


Cinnaire is a mission-driven organization. Our team of more than 130 individuals are united by our core purpose. As dedicated problem solvers, we start each day thinking ‘what kind of difference can we make in people’s lives today?’ and then go about revitalizing communities, empowering individuals and creating economic opportunities.

We get involved. We spend time on the ground in the communities we serve, getting to know the people, understanding their challenges, and devising out-of-the-box solutions. Ours is a people-first approach to advancing communities. As a community development financial organization, we provide creative capital solutions to projects with high social value that may not otherwise receive support from traditional financial institutions. Our toolkit of services includes programs that lend funds, finance development and manage and build all the components of strong, vibrant communities.

We help community development organizations, lending partners and socially motivated investors accomplish goals in underserved communities. We fill gaps in community development funding by leveraging capital from public and private sector organizations and bringing expertise to communities that need it most.

Since 1993, Cinnaire has funded affordable housing developments and community development initiatives throughout the Midwest and Mid-Atlantic states. Headquartered in Lansing Michigan, we have offices in Detroit and Grand Rapids, MI:, Milwaukee and Madison, WI; Chicago, IL; Indianapolis, IN; and Wilmington, DE, while providing financial and development support across our nine-state footprint including Michigan, Wisconsin, Minnesota, Indiana, Illinois, Pennsylvania, New Jersey, Delaware and Maryland.



A Loan Underwriter, Community Facilities (LUCF) evaluates community facilities loans and investments, including New Markets Tax Credit (NMTC) allocations and leverage loans, to assess the associated risks and mitigants. A Community Facility is a facility where health care, childcare, educational, cultural, or social services are provided. Generally, this includes ensuring that the proposed loan or investment is sound, appropriately sized, properly secured, adheres to underwriting guidelines, and that it will provide positive financial and social impacts as underwritten. The LUCF manages projects from underwriting through closing, ensuring an appropriate handoff to the portfolio management and servicing/compliance teams.


  1. Underwrites community facilities loans and investments, including NMTC allocations and leverage loans, ensuring that the project sponsor has the necessary skills and experience assembled in the project team to carry out the project.
  2. Participates in vetting new community facilities loan or investment opportunities.
  3. Collects and reviews due diligence documents.
  4. Analyzes routine to moderately complex financial statements and financial models.
  5.  Assesses the project sponsor’s financial statements, including review and analysis of balance sheets, income statements, operating budgets, cash flow projections, audits, and tax returns.
  6. Assesses the validity of revenue and expenses related to expanded program delivery.
  7.  Analyzes the feasibility of growth projections based on the market where the project will be located.
  8. Identifies risk factors of the proposed loan or investment that differ from standard underwriting criteria and proposes appropriate mitigants or potential structural enhancements to reduce risk.
  9. Performs due diligence site visits as needed.
  10. Effectively communicates credit issues to the Senior Vice President, Loan Origination Services and/or Senior Vice President, Public Funding.
  11. Prepares write-ups and presents the proposed allocation and/or loan to the loan committee for consideration.
  12. Supports the project through closing, including keeping project information up to date in the pipeline management system, ensuring the successful transition of the project to the portfolio management and servicing/compliance teams.
  13. Participates in industry activities, including industry conferences, trade shows, education opportunities, and other events that benefit Cinnaire Lending and Cinnaire NMTC business relationships.
  14. Maintains business relationships with other CDFIs and CDEs, accountants, attorneys, consultants, and any other related parties.


Qualifications and Skills:

  • Bachelor’s degree in Finance, Accounting, Economics, Business, or Real Estate/Urban Planning required. Course work in finance preferred.
  • Previous experience with underwriting, structuring, and/or closing community development or community facilities loans or tax credit investments preferred.
  •  Ability to interpret and analyze nonprofit and for-profit financial statements.
  • Excellent communication, organizational, and interpersonal skills.
  • The ability to work under tight deadlines, manage priorities, and complete assigned tasks with minimal oversight.
  • Keen analytical skills and attention to detail.
  • Strong Microsoft Office Suite skills required.

Key Competencies:

  • Analysis to Synthesis: Interprets data and information from multiple sources and translates it into coherent messages that inform decisions.
  • Intellectual Agility: Can flex and adapt thinking skills to meet the needs of different situations and circumstances. Doesn’t limit problem solving to one approach or methodology.
  • Perseverance: Accepts uncertainty by remaining focused and engaged on assignments. Looks for plausible solutions to difficult problems.
  • Insight to Action: Acts on conviction and advances from concept to implementation toward a goal. Draws upon knowledge and professional judgement to orchestrate the steps required to get results.
  • Diversity Awareness: Identifies the benefits and advantages of harnessing the collective insights from various individuals in the organization.

Reporting Relationship: Reports to Senior Vice President, Loan Origination Services

Supervisory Relationship: None

Physical Requirements:

  • The ability to sit at a computer for extended periods of time.

Travel Required: Up to 15%

Compensation and Benefits

Cinnaire offers a competitive compensation package.

Benefits Offered:  Medical, Health Reimbursement Account, Flexible Spending Accounts (medical and dependent care), Dental, Vision, Life Insurance, Accidental Death & Dismemberment, Long-Term Disability, Employee Assistance Plan, Pet Insurance, Identity Theft Protection, Paid Mobile Phone Service, Unlimited PTO, Incentive Compensation, 403(b) Plan, and Profit-Sharing Plan.




How to Apply

Cinnaire provides equal employment opportunities (EEO) to all employees and applicants for employment without regard to race, color, religion, gender, sexual orientation, national origin, age, disability, marital status, status as a Vietnam-era or disabled veteran or any other characteristic protected by law. Cinnaire complies with all applicable federal, state, and local laws, regulations and ordinances prohibiting employment discrimination. Cinnaire is committed to the full inclusion of all qualified individuals. As a part of this commitment, Cinnaire is dedicated to providing access, and reasonable accommodation in its services, programs, activities, recruitment and employment for qualified individuals with disabilities.