Position: Small Business Loan Officer / Sr. Loan Officer
Reports to: Business Lending Manager
Revised: December 2022
Organization Summary
Mission Economic Development Agency (MEDA) – Building on its 49-year history, MEDA is advancing innovative approaches to asset development. Its efforts are focused on serving low-income, Spanish-speaking San Franciscans. Our direct service programs serve 7,500 individuals each year through homeownership counseling and foreclosure intervention, business development, digital literacy, workforce development, financial education and free tax preparation. We also devote resources to research and evaluation, community organizing and advocacy. In the process, MEDA is helping to develop best practices in the field.
In 2015 MEDA launched a Community Development Financial Institution (CDFI) – Fondo Adelante – to provide loans throughout the San Francisco Bay Area to Latino-owned small businesses that are currently underserved by traditional and non-traditional lenders alike. Fondo Adelante’s initial micro and small business loan products provide loans of up to $100,000 to qualifying business owners. The CDFI launched several emergency loan programs to respond to COVID-19’s impact on Bay Area small businesses and deployed more than $10 million in no-interest or low-interest loans. Fondo Adelante recently integrated its lending team with MEDA’s Business Development Program to better facilitate pre- and post-loan closing technical assistance (offered in both English and Spanish) for small business borrowers. With this integration of business capital and business coaching support, MEDA is meeting the needs of low-income, Latino-owned businesses to support asset-building through business growth and job creation in the San Francisco Bay Area.
Job Summary
MEDA’s CDFI, Fondo Adelante, is seeking a qualified Small Business Loan Officer/Sr. Loan Officer that will originate, package, and close qualified applications for business loans of up to $100,000 and provide business coaching sessions for our clients (in group and one-on-one). Qualified candidates will have demonstrated the ability to build business relationships within Latino and immigrant communities to generate referrals and source leads that meet Fondo Adelante’s lending criteria and mission. Fondo Adelante’s target market includes a wide spectrum of businesses, ranging from small, informal cash-based businesses with no formal credit and limited documentation to businesses with more than $1,000,000 in sales and 20+ employees.
This position reports to the Business Lending Manager and works closely with the manager to meet loan production goals. Fondo Adelante’s portfolio has grown rapidly through its emergency lending response to COVID-19, thus, this is an exciting opportunity to join an ambitious, growing community loan fund and help strengthen the Latino and immigrant small business communities of the San Francisco Bay Area.
Duties and Responsibilities:
- Build relationships and a referral base among small business owners, business associations, and community partners through participating in community events in the San Francisco Bay Area, especially within Latino and immigrant communities.
- Attend business site visits, networking events, and other outreach events.
- Generate a strong pipeline of qualified loan applications that meet Fondo Adelante’s lending criteria and mission.
- Process complete application packages, including screening packages against product guidelines and required documents, entering and processing applications in our system, gathering all required documents and closing out loans (approvals or declines) within a target timeframe.
- Analyze basic cash flow and repayment ability through interviews with business owners and review of loan applications, tax returns, bank statements, references, credit reports, employment and income verification, and collateral.
- Make decisive loan recommendations and clearly articulate a compelling case for loan decisions to appropriate approval authorities.
- Monitor and help collect on Fondo Adelante’s portfolio of small business loans.
- Develop workshop training materials or tailor existing materials to meet the needs of the community, and deliver workshops and training, including Access to Capital workshops.
- Provide one-on-one coaching to Business Development Program clients – individuals who set achievable goals unique to self-employed individuals and small business owners.
- Assist clients in assessing and resolving current financial challenges, while providing a wide lens on their financial health to shift the approach to proactive financial management.
- Provide excellent customer service and fast turn-around time to build client trust and Fondo Adelante’s brand and reputation in our community.
Qualifications
- 2+ years of sales experience in financial services (preferably business lending) as a loan officer, loan consultant, business banker, or sales rep at a CDFI microfinance institution, consumer lender, bank, credit union, leasing company, or other financial institution.
- Demonstrated ability to consistently meet or exceed monthly sales quotas.
- Strong analytical and math skills with a willingness to use qualitative and quantitative data in decision-making.
- Demonstrated self-starter who goes beyond the job description to make sure goals are achieved.
- Knowledge of or experience with under-banked, low-income, and underserved populations is highly desirable.
- Loan servicing and collections experience preferred.
- Working knowledge of Excel required, and desire/ability to learn other software programs to manage loan portfolio.
- An entrepreneurial work ethic, creativity, and openness to exploring new ideas, systems, and financial tools.
- Commitment to MEDA’s mission and place-based approach to economic and racial justice.
- Bilingual in English and Spanish is required.
MEDA is an Equal Opportunity, Affirmative Action employer.
To Apply
Click on the following website and include your resume and cover letter.
https://medasf.bamboohr.com/careers/133
