Business Loan Officer
Job Status: Full Time, Exempt
Job Site: Any CLW/DevNW Office (Lane, Linn/Benton, Marion, Clackamas)
**Note: all staff are currently working from home due to COVID-19. A home office set-up stipend and monthly internet contribution are in place for the duration of required telework. We may transition to a long term hybrid model. Regardless of telework options, this position would need to live within our territory in order to travel to in-person meetings and events.**
Job Salary: Salary commensurate with experience ($50,000-$70,000); 5% pay differential for bilingual English/Spanish
Benefits: Medical, dental and vision insurance; a deferred compensation retirement plan that includes an employer match (eligibility for the plan begins after one year of employment); paid vacation, sick leave, and holidays; optional alternative schedule of 5/8s, 4/10s, or 4/9s+4.
Supervisor: Director of Lending
Community LendingWorks (CLW) is a community development loan fund dedicated to providing safe, affordable, consumer and small business loans to individuals and small businesses who are underserved by the mainstream financial industry, especially those from BIPOC, rural, and low-income communities. CLW is a Community Development Financial Institution (CDFI) and an affiliate of DevNW, a nonprofit affordable housing and economic development organization. CLW and DevNW work in close partnership to help individuals and families gain financial security and opportunity, help small businesses start up and grow, and help neighborhoods revitalize and redevelop.
CLW Business Loan Officers are primarily responsible for recruiting and originating micro and small business loans that are consistent with CLW’s community development mission, including working to reverse historic disparities and discrimination in access to small business capital. Business Loan Officers are responsible for developing a pipeline of prospective borrowers, through both direct outreach and partnership development with businesses, service providers, banks, and economic development programs, with a particular emphasis on BIPOC-led, culturally-specific, and rural businesses/partners. The business loan officer will also work with the CLW team to recommend and develop new loan products and services to meet community needs. The business loan officer will develop new relationships, maintain existing relationships, and communicate effectively and enthusiastically the mission of CLW and DevNW.
DUTIES AND RESPONSIBILITIES
- Develop and maintain professional relationships with – and market CLW products to – current and potential borrowers who fall within CLW’s target communities, including BIPOC, low income, and rural entrepreneurs and existing small businesses.
- Develop and maintain professional relationships with – and market CLW products to – partners who can act as trusted referral sources, including loan officers within the mainstream banking system, business development agencies, city/county economic development staff, chambers of commerce, social service agencies, etc., with particular emphasis on culturally-specific partners.
- Meet annual loan original goals by successfully recruiting loan applications that fall within CLW’s target communities and underwriting standards.
- Communicate clearly and effectively with a wide variety of audiences about CLW’s mission, available resources, and steps to apply for a loan.
- Perform financial analysis, due diligence, and project feasibility assessment for potential loan candidates.
- Help potential borrowers gather the necessary loan application package/documents, along with business, financial, and personal background information as needed to move forward with the application.
- Originate micro and small business loans, including evaluating an application package for completeness, performing an initial analysis of the applications compatibility with underwriting guidelines, and (if needed) writing a credit memo for the Loan Committee with detailed analysis and recommendations for terms and credit structure.
- Present business loans to the Loan Committee when needed.
- Provide business development and technical assistance guidance (including referring to trusted partners in the community) for potential borrowers needing help with basic business planning and training.
- Conduct periodic site visits and/or desk reviews of borrowers by phone.
- Identify new opportunities for CLW services and loan products, in expanded geographic areas and or in the creation of new loan products to address unmet community needs.
- Provide accurate information on all CLW loans & services.
- Bilingual in English and Spanish strongly preferred but not required.
- Strong belief in the mission of CLW and DevNW; desire to help small businesses establish and grow, and to help families and communities become more financially stable;
- 2 - 5+ years of experience in loan origination required, preferably in business/commercial lending; proven ability to generate loan volume and to develop strong client relationships;
- Experience developing trusted relationships with BIPOC communities and culturally-specific partners, preferably related to small business development or economic development.
- Bachelor’s degree in business, finance, or related field strongly preferred;
- Knowledge of micro and small business loans;
- Thorough understanding of basic principles of financial analysis;
- Excellent verbal and written communication skills including public speaking;
- Ability to perform outreach/ business development activities;
- Exceptional customer service skills – with clients, partners, and co-workers.
GENERAL KNOWLEDGE, SKILLS, AND ABILITIES:
- Commitment to the ideals of equity, asset building, economic justice, and creating economic opportunities for low- to moderate-income families;
- Ability to manage time and juggle multiple demands in a time-sensitive environment;
- An entrepreneurial spirit with the ability to work with a minimum of hands-on supervision;
- Enjoy working in a fast-paced, mission-driven and constantly growing/changing environment;
- Strong analytical and organizational skills; high level of attention to detail;
- Ability to work a flexible schedule including weekends and evenings as program dictates;
- Ability to travel from home office several days a week, and be insured to drive company vehicles;
- Computer proficiency in Microsoft word processing, spreadsheet and database programs
Ability to work some evening and weekend hours for occasional conferences, partner events, etc. (likely not more than 1-2 per month); travel to other locations in Oregon; and travel out of state for training and/or conferences for periods up to a week (once a year or less).
This position will require periodic travel to all of our office loactions, as well as meets and partner events around Oregon. Must have valid Oregon driver’s license and ability to be covered by organizational insurance in order to use company vehicles for work travel, and/or must have reliable transportation, auto insurance and maintain a valid driver’s license (mileage reimbursement provided for work travel in own vehicle).
Ability to use a computer/keyboard (or adaptive equipment) and associated software for videoconferencing, word processing, spreadsheets, databases, email and calendar/scheduling programs.
DevNW is an Equal Employment Opportunity Employer. All qualified persons are encouraged to apply. Applications for employment will be considered without regard to race, color, national or ethnic origin, religion, gender, gender identity, sexual orientation, marital status, age, disability, and any other characteristic protected by applicable law.
DevNW values diversity and supports a positive, welcoming environment where all of our employees can thrive. We strive to hire a workforce representative of the communities we serve, understanding a diverse workforce strengthens our organization.
Studies have shown that women and people of color are less likely to apply for jobs unless they meet every one of the qualifications listed. We are interested in finding the best candidate for the job, and that candidate may come from a less traditional background. If you meet key qualifications for the job, and believe you would be the best fit, we encourage you to apply; please use your cover letter to explain how you will accomplish parts of the job for which you have less experience. If you are unsure whether you meet the qualifications of this position, please feel free to contact us.