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Loan Underwriter
Seedco
Description
About Seedco Financial: Seedco Financial is a national, nonprofit community development financial institution (CDFI) with $190 million in assets under management. Working with local partners, Seedco Financial provides affordable financing and technical assistance to small businesses, nonprofit organizations, and anchor commercial projects in low-income and economically distressed communities. Its financing programs are designed to fill critical capital and capacity gaps within local markets. Seedco Financial is a subsidiary of Seedco, a national community development intermediary that creates opportunities for low- wage workers and their families in economically distressed areas.
Position Overview: Experienced underwriter needed for a national community development financial institution which caters to the small business, nonprofit and community economic development sector with a focus on underserved markets. Underwriter will prepare and make credit recommendations by underwriting new credit transactions and recommend deals to a Chief Credit Officer and/or senior credit committee. Deals include, but not limited to, retail loans, commercial real estate, professional business loans, light manufacturing and distribution loans. Loan amount ranges from $50,000 - $5 million. Experience with community development, Small Business Administration (504, Community Express) loan programs and New Markets Tax Credit program are a plus. The Loan Underwriter reports to the Chief Credit Officer.
Responsibilities:
• Review submitted loan application file to analyze, interpret and evaluate financial information and loan documentation to assess borrower capacity, cash flows, character, collateral and condition to honor its obligations;
• Verify completeness and accuracy of file
• Insure that approval of new loan requests comply with loan underwriting, product and program policies and procedures;
• Prepare a loan presentation that assess' applicant trends, cash flow, and credit risks;
• Renders a decision within established credit guidelines and compliance and regulatory requirements;
• Communicate decisions to loan originators;
• Recognize industry and/or borrower specific risks, applying appropriate underwriting criteria and identify abnormal characteristics of borrower;
• Assist loan officers with loan requests and make recommendations regarding modifying loan structure;
• Work closely with loan officers to determine appropriate counteroffers to the borrower and clear any pending conditions;
• Manage application pipeline and expected service levels;
• Communicate loan decisions to processing;
• Comply with specified lending practices;
• Meet all departmental goals for productivity, quality, and turnaround time;
• Remain up to date and knowledgeable on all policies and procedures.
Qualifications:
• Minimum of 3-5 years credit and financial experience in bank lending, community development lending, credit analysis, or loan review. Credit training from a banking institution a plus. Master's degree a plus;
• BA/BS degree in accounting, finance, economics is highly desirable.
• Strong knowledge of small business, nonprofit, commercial real estate loans including appraisals and land surveys;
• Understanding of community development, Small Business (SBA) loan products;
• Thorough knowledge of complex personal and business financial analysis and an expertise in tax return and balance sheet analysis, including cash flow;
• Solid analytical skills and ability to work under pressure;
• Excellent written and verbal communication and problem solving skills;
• Strong interpersonal and organizational skills;
• Strong Computer Skills including Word and Excel; and
• Highly motivated, team player.
Compensation: Salary is commensurate with experience. Full benefits package is offered. Seedco Financial is an Equal Opportunity employer. Personnel are chosen on the basis of ability without regard to race, color, religion, sex, national origin, disability, marital status or sexual orientation, in accordance with federal and state law.
HowTo Apply:
Forward resume and cover letter with salary history in MS Word format to: SFSjobopenings@seedco.org. You must put “Loan Underwriter (Req#10-30)” in the subject line of the e-mail in order for it to be processed. Emails without this subject line will NOT be considered. E-mailing your resume is preferable to fax.
