Sr. Loan Officer

POSITON SUMMARY

This position is responsible for the origination and underwriting of business loans for Metropolitan Economic Development Association (MEDA). This position will be instrumental to disseminating complex loans of $400,000 to $5,000,000 to underserved entrepreneurs. The Senior Loan Officer underwrites and processes small business loan requests; coordinates with MEDA staff to meet loan and portfolio management metrics, and lending department objectives related to impact and portfolio quality. Provide efficient and high-quality risk assessment that enables the lending department to meet loan production and portfolio management objectives. Lead generation is a critical aspect of the position. Individual must be comfortable networking, building referrals and seeking new business opportunities to expand pipeline. This position must administer all loans within legal and regulatory requirements.

ESSENTIAL DUTIES AND RESPONSIBILITIES

The loan officer is expected to spend half-time in the office, and half-time originating and meeting with referrals sources (business bankers, business lawyers, accountants, M&A/business brokers, etc). Reviews small business financial statements, business plans, tax returns, etc to determine borrower's credit worthiness. Completes loan application packages, including screening packages against product guidelines, required documents, and regulatory requirements leveraging lending software processing and underwriting systems (Sageworks Abrigo, Moody's Credit Lens, etc). Gathers additional data by contacting customers regarding questions/concerns; negotiates loan rate and term; obtains documentation needed for loan file; forwards file to loan underwriter and loan processor; closes approved loans. Sends required documentation regarding denied loans; provides suggestions for ways to improve credit worthiness. Reviews commercial loans in assigned portfolio annually; works with credit personnel in obtaining updated financial statements to prepare reviews; create updated narrative report to ensure credit review and loan risk category is complete. Serves as a contact for realtors, title company staff, appraisers, accountants, insurance agents, and attorneys regarding commercial loan customers Conducts business and/or property site visits annually and before loan closing to verify loan utilization. Makes decisive loan recommendations and clearly articulate a compelling case for loan decision to approve or deny applications based on appropriate approval levels. Prepares and presents loan proposals to Credit Committee Supports portfolio management activities including monitoring of high-risk loans and leading collection efforts on loan portfolio. Interfaces with clients, consortium bank members, other nonprofits, and funding sources upon request Solves and mitigate credit issues for clients and third-party lenders. Ensures customer privacy, security of files and appropriate staff access. Represents MEDA at various functions and provides leadership in community activities and organizations. Other lending duties as assigned

KEY DELIVERABLES

Financial Analysis - compiles financial documents, performs credit evaluations to ensure loan applicants meet the necessary qualifications Timely and thorough loan packages for approval compliant with underwriting and MEDA's standards. Meets sales expectations and demands of all functions of the lending department Provides accuracy in term sheets and data entry of date for third party vendors. Portfolio Performance reporting

QUALIFICATION STANDARDS.

Bachelor's degree in business administration, finance or another related field. MBA a plus At least ten years of demonstrated success sourcing and underwriting small business loans. Preferred experience with the SBA 7a Program at a community bank, credit union, etc. Must have demonstrated understanding of loan products, standard commercial lending policies and industry guidelines Business development expertise needed Understanding of SBA 504 and commercial real estate underwriting a plus Familiar with loan underwriting software programs (Sageworks Abrigo, Moody's Credit Lens, etc.) required and advanced skills in Excel a plus Excellent inter-personal skills, comfortable working with people of all levels as well as varied cultural backgrounds, and English as second language users Ability to communicate with tact, diplomacy, and/or authority when necessary Good organizational skills, well disciplined, and able to meet deadlines, self-starter Ability to work under pressure of many priorities and deadlines, effective problem solver Familiar with recording and lien processes to secure collateral Understanding of participation and subordination agreements with other financial institutions Understanding GAAP accounting regarding all business accounting functions relating to financial statements. Understanding of FASB rules and regulations Experience in all areas of collections from workouts to SBA default processes. Analytical skills required (Profit and Loss Statement and Balance Sheet) Understand full ten-tab SBA underwriting requirements and gathering all required documents and closing out applications within target timeframes. Training and Development SBA 7a Certification is provided at no cost to loan officer. Ongoing training in areas such as for-profit & non-profit commercial real estate lending and small business acquisition. Continued education encouraged via commercial lending seminars and SBA lending/in person training events/webinars. Travel may be required.

Physical Requirements:

While performing the duties of this job, the employee is occasionally required to stand; walk; sit; and climb stairs. Specific vision abilities required include ability to read printed materials and computer monitors. Reasonable accommodation may be made to enable individuals with disabilities to perform the essential functions.

Job Type:

Full-time Benefits:

401(k) Dental insurance Employee assistance program Flexible spending account Health savings account Life insurance Vision insurance Ability to

Commute:

Minneapolis, MN 55411 (Required) Ability to

Relocate:

Minneapolis, MN 55411: Relocate before starting work (Required)

Work Location:

Hybrid remote in Minneapolis, MN 55411