Loan Officer MCDC

Concetti; Lansing (MI); On-site; USD 65,000 - 95,000; Full time

Job summary

MCDC seeks a Loan Officer to grow SBA 504 loan opportunities across a Central Michigan territory. You will work with lending partners and borrowers on structure, underwriting, and closing SBA 504 loans.

You will cultivate lender relationships, assess eligibility, guide borrowers through the loan process, and conduct training events for COIs to expand partnerships. Weekly travel within the territory is required.

Qualifications

• 5+ years of prior commercial lending experience (SBA lending preferred).
• Bachelor's degree in accounting, business, economics, finance or equivalent combination preferred.
• Valid driver’s license required.
• Ability to work collaboratively in a team and autonomously with minimal guidance.
• Excellent interpersonal, communication and computer skills; strong problem-solving abilities.

Responsibilities

• Nurture existing and create new relationships with lending partners to expand the SBA 504 loan programs.
• Determine the eligibility and appropriate financing for borrowers and assist through the entire loan process including closing and funding.
• Conduct group and individual training for lenders and COIs (Centers of Influence).
• Host marketing and educational events for lenders and COIs to encourage partnerships.
• Develop referral sources and networks to expand business referrals from other industries for SBA 504 loans.
• Apply SBA SOP knowledge to evaluate loan applications for accuracy, completeness, and eligibility.
• Perform analysis of financial statement spreads and repayment capacity for borrowers and guarantors.
• Review program eligibility and document collection requirements for each loan type.

Skills

People skills

Communication

Computer skills

Team collaboration

Attention to detail

Education

Bachelor's degree in accounting, business, economics, finance or related field

Tools

MS Office

Job description

Location/Market Territory:

Primarily within the Central Michigan Counties from Ingham to Iosco.

About MCDC:

MCDC is a statewide organization that has been at the heart of economic development in Michigan for over 35 years. It is authorized by the U.S. Small Business Administration (SBA) to administer SBA Loan Programs throughout the state. As the largest CDC in Michigan and one of the largest in the country, MCDC provides financing to small businesses, assisting them in growing their business, creating jobs and contributing to the overall economic growth in the state of Michigan.

MCDC offers a competitive wage and benefits package program. For additional information about MCDC visit: www.michigancdc.org.

Job Summary:

The Loan Officer (LO) is responsible for developing a referral network within a geographic territory to develop new SBA 504 loan opportunities. LO advises third party lending partners and borrowers on structure, underwriting and the closing of SBA 504 loans.

Job Responsibilities:

1. Nurture existing and create new relationships with lending partners to expand the SBA 504 loan programs


2. Determine the eligibility and appropriate financing for borrowers and assist them through the entire loan process including closing and funding


3. Conduct group and individual training for lenders and other COIs (Centers of Influence)


4. Host marketing and educational events for lenders and COIs to encourage business partnerships


5. Develop referral sources and networks to expand business referrals from other industries that may utilize the SBA 504 Loan program


6. Applies knowledge of SBA Standard Operating Procedures (SOP) to evaluate loan applications for accuracy, completeness, and eligibility


7. Performs analysis of financial statement spreads and repayment capacity for borrowers, affiliate business entities, and corporate and personal guarantors


8. Review program eligibility


9. Understands the document collection requirements of each loan type and collects the required documents from borrower/partner.


10. Cross-train others, as assigned.


11. Maintains procedural documentation of relevant tasks/responsibilities.


12. Prioritizes work according to necessity, complexity and deadlines.


13. Demonstrates excellent working knowledge of all systems utilized by the department.


14. Works harmoniously and collaboratively with team members to accomplish MCDC objectives.

Other:

Assist with other duties as assigned. Duties, responsibilities and activities may change at any time with or without notice.

Job Requirements:

Education: Bachelor's Degree in accounting, business, economics, finance or equivalent combination of education/experience preferred.

Certifications/Licenses: Valid Driver's License.

Required Knowledge, Skills, Abilities, Training and Experience: Minimum of 5 years of prior commercial lending experience (commercial real estate preferred), SBA lending experience preferred. Extraordinary attention to detail, organization and problem-solving abilities. Successful completion of in-house training program. Ability to work collaboratively in a team and autonomously with little guidance. Displays the confidence and competence to gain/maintain MCDC's credibility. Takes initiative to learn, develop oneself and see things through from start to finish. Proven interpersonal, communication and computer skills; ability to operate standard office equipment such as computers, copiers, etc.

Additional Eligibility Qualifications

1. Excellent people skills, displaying an ability to partner with a dynamic leadership team.


2. Possess personal qualities of integrity, credibility and commitment to the Mission.


3. Flexible and able to multitask; can work within an ambiguous, fast-pace environment while driving toward clarity and solutions; demonstrated resourcefulness in setting priorities.


4. Weekly travel within the LO territory.

Work Authorization/Security Clearance:

1. Candidate must be eligible to work in the United States.


2. Must possess a valid driver's license.


3. Must be able to obtain clearance from the U.S. Small Business Administration.

Essential Physical Requirements:

1. Ability to converse verbally and in writing with others.


2. Ability to utilize general office equipment, Internet and various business software programs (i.e. MS office).


3. Ability to work flexible hours as needed.


4. Ability to travel within the community to attend various events, conferences and meetings with occasional overnight travel.

Work Environment -

This job is located at a remote professional office using standard office equipment (computer, phone, etc.). A significant percentage of time will be spent in the field calling on third party lenders and borrowers.

Physical Demands

The physical demands are typical of an office environment but also includes the ability to travel. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions of this position.

Position Type and Expected Hours of Work -

This is a full-time position. Days and hours of work are Monday through Friday, 8 a.m. to 5 p.m. with additional time (evenings and weekends) as necessary.

Travel

Weekly travel throughout your territory (2-3 days per week) and some overnight travel is expected to fulfill the requirements of the position. Occasional overnight travel outside the state (1-2 times annually) is required as well.

AAP/EEO Statement:

MCDC provides equal employment opportunity to all individuals regardless of their race, color, creed, religion, gender, age, sexual orientation, national origin, disability, veteran status, or any other characteristic protected by state, federal, or local law. Further, the company takes affirmative action to ensure that applicants are treated fairly during employment without regard to any of these characteristics. Discrimination of any type will not be tolerated.

Must pass a comprehensive Background Check.