Loan Program Analyst

State of Illinois; Illinois; On-site; USD 70,000 - 95,000; Full time

Job summary

The State of Illinois, Department of Commerce and Economic Opportunity, seeks a Loan Program Analyst (Executive II) to evaluate credit proposals for its financing programs. You will perform financial analysis, assess risk, and engage lenders to support small business lending and economic development across Illinois.

This role involves preparing credit memoranda, providing technical lender assistance, and monitoring loan compliance under supervision of the Loan Program Manager.

Qualifications

• Four years of college coursework, preferably in business or public administration.
• Two years of progressively responsible experience in commercial lending, credit analysis, or financial analysis.
• Two years drafting internal credit memoranda or underwriting documents supporting credit decisions.
• Two years of due diligence on borrowers and reviewing financial statements and risk assessments.
• Experience with loan documentation and government credit programs (SBA, USDA, etc.).
• Background check completion and ability to work overtime as required.

Responsibilities

• Evaluate credit proposals for small business financing programs.
• Prepare credit memoranda and provide technical assistance to lenders.
• Support lending decisions and loan compliance activities under supervision.

Skills

Credit analysis

Financial analysis

Lending knowledge

Drafting memos

Risk assessment

Education

Undergraduate coursework in business/public administration

Job description

The Loan Program Analyst (Executive II) at the Illinois Department of Commerce and Economic Opportunity evaluates credit proposals for businesses seeking access to the department's financing programs. The role combines financial analysis, risk assessment, and lender engagement to support small business lending decisions and economic development across Illinois. This position involves preparing credit memoranda, providing technical assistance to lenders, and managing loan compliance activities under the supervision of a Loan Program Manager.

Key qualifications

• Four years of college coursework, preferably in business or public administration
• Two years of progressively responsible experience in commercial lending, credit underwriting, credit analysis, or financial analysis
• Two years of professional experience drafting internal credit memoranda or equivalent underwriting documents supporting credit decisions
• Two years of experience conducting due diligence on borrowers and reviewing financial statements and risk assessments
• Experience with loan documentation, credit recommendations to decision-making bodies, and government credit programs (SBA, USDA, etc.)
• Background check completion and ability to work overtime as required