Loan Officer

POSITION: LOAN OFFICER- SMALL BUSINESS

    

The Loan Officer- Small Business is responsible for identifying potential new customers and originating loans to those prospective borrowers on behalf of Baltimore Business Lending (BBL). BBL is a wholly owned subsidiary of Baltimore Community Lending, a certified Community Development Finance Institution. The Loan Officer reports directly to the Director of BBL and performs such other duties and responsibilities as assigned by the Director of BBL, and the President/CEO of BCL.


Job Summary


This position provides lending support to the Director of BBL. The primary function is to work with potential clients to assist them in completing their application for a loan to establish or strengthen a small business in Baltimore City. A drive to assist people to access capital in order to achieve financial success and improve the overall economy of Baltimore City is a key requirement. We are committed to be as supportive as possible and the candidate in addition to experience with small business financing will need to understand how to mitigate unnecessary risk. Outreach and marketing, being able to take a complete application, assisting in providing client services are important and requirements for this position. This position requires a significant amount of customer contact. The primary functions of the position are to serve otherwise credit worthy people who lack existing equity or collateral as a way to help grow the Baltimore City economy while providing opportunity for wealth building to its citizens.  


Duties and Responsibilities


Provide basic technical assistance and information to the public, potential loan program applicants and others with a need for information and assistance regarding the general guidelines, requirements, regulations and procedures governing BBL loan products for which the loan officer has or may have responsibility.


Intake Loan Applications into the LendingFront portal and review completed

applications to determine basic program eligibility within the current regulations and guidelines for all programs administered by BBL.


Underwrite each loan based on normal guidelines for small business loans and the additional loan overlays and guidelines provided by BBL. 


Present each loan application to the Director of BBL for review of the decision provided by the loan officer based on the underwriting guidelines and financing capacity of BBL. 


Review and analyze applications which are found to be program eligible for financial feasibility consistent with BBL underwriting standards and approved loan policies and procedures, which shall include, but is not limited to the following tests:

  • Full Business Plan, including a Marketing Plan,
  • Accuracy and completeness of required documents,
  • Development costs,
  • Availability of proposed funding including other funding sources,
  • Accuracy, rationality and completeness of projected operating expenses and debt service,
  • Eligibility for the program including market feasibility, ability to handle proposed rents and carrying costs.
  • Site visits,
  • Personal and phone interviews, -
  • Review of public records, etc. as needed,
  • Review of neighborhood condition,
  • Any other information relevant to loan feasibility analysis.
  • Develop, maintain and continuously update his/her knowledge of directly applicable laws, regulations, guidelines and procedures affecting BBL products or programs for which the loan officer has responsibility. This includes knowledge of basic eligibility, financial, market and physical feasibility requirements and all other factors affecting approval or disapproval of loan applications.
  • Negotiate terms of a loan within loan policy and in consultation with Director of BBL or President/CEO of BCL. All proposed variances from approved lending policies must be approved in writing by the President/CEO.
  • Review “BBL” Loan Packages prior to submission for completeness content and project support documentation
  • Interact with legal counsel regarding loan documentation and any legal issues regarding a particular loan.
  • Meet with private, public or other lenders regarding any potential transactions and finding programs available to assist with “BBL” projects.
  • Make site visits for existing and potential transactions to observe current environment for consistency and reasonableness of the project and existing neighborhood conditions.
  • With regard to each application in the workload, the Officer is expected to keep their supervisor informed of significant progress or problems as they arise, and seek assistance to resolve problems as appropriate.
  • Disseminate information through a series of regularly required reports.
  • Assist the Finance Department/Portfolio team in performing annual loan reviews.
  • Demonstrate a proficiency in effectively communicating technical concepts, writing letters, memoranda, loan summaries, position papers.
  • Supervise maintenance of official files, organized in the standard BCL prescribed manner, properly secured and available in the prescribed location.
  • Work as a team member, ever conscious of deadline needs, work flow and assignment schedules.

Position Qualifications


Minimum undergraduate or college degree with five (5) or more years’ experience including 1) lending experience, in business finance lending; 2) work experience or familiarity with community development a plus; 3) strong communication, writing; and 4) proficient computer skills including Microsoft Excel, Outlook, Word, and Power Point.


Compensation


Compensation, paid as a salary with benefits, is commensurate with experience and qualifications. The excellent benefits package includes 40lk plan with match, health insurance, life and disability insurance, and paid annual leave.


How to Apply

Please submit a cover letter, resume and salary requirements to Resumes@BCLending.org with “Loan Officer” in the subject line.



Baltimore Business Lending, LLC (BBL) is a wholly-owned subsidiary of Baltimore Community Lending (BCL), a 501(c)(3) nonprofit real estate financing corporation and certified Community Development Financial Institution.  BBL and BCL are Equal Opportunity Employers (EOE).


July 2018