Loan Officer (Bilingual)

Job Details: Job Location: Springfield - Springfield, MA, Position Type: Full-time, Salary Range: $64000.00 - $75000.00Salary/year, Loan Officer (Bilingual)
Common Capital, Inc., a Way Finders subsidiary

Way Finders/Common Capital is a Top Workplaces for Nonprofit organization, named as an employer of choice because our employees said so!  

At Way Finders, we are passionately invested in lifting up the region’s people, places, and systems. Though our team performs a wide variety of functions, we are united by our shared mission: to build and advocate for a thriving region; to improve the stability and economic mobility of families and individuals; and to develop and manage a robust range of safe, affordable housing options.

Common Capital creates economic opportunities for people in Western Massachusetts.  We support local entrepreneurs by responsibly lending money to small businesses that are unable to get loans from banks and other conventional lenders.

Interested in joining our team of dedicated professionals? Common Capital, Inc. is currently seeking a bilingual (English/Spanish) Loan Officer. The Loan Officer underwrites new loans to small businesses, prepares loan renewals and modifications, manages borrower relationships, collects past due loan payments, and conducts outreach and marketing to generate new loan applications. Other responsibilities will include a data coordination and analysis component.

Benefits include:  20 days accrued paid time-off during year one | 15+ holidays annually | Health, dental, and vision insurance options FROM DAY ONE | Educational assistance | Medical Reimbursement Account | Dependent Care Account | 403(b) retirement plan with employer match | Life insurance | Short-term and long-term disability insurance | Transportation benefits | Employee Assistance Program | Annual staff picnic!

Wage starts between $64,000 and $75,000 per year depending on equivalent qualifications. Interested applicants must submit a cover letter and resume; applications will be accepted until the position is filled.

We are looking for a Small Business Loan Officer who is an experienced underwriter or credit analyst. We will consider less-experienced applicants who have, in some real capacity, worked in the underwriting process for business or commercial loans. Those in banking who have these skills and want to grow their career are encouraged to apply!

The candidate may work in a hybrid-remote capacity but must live within commutable distance to the Western Massachusetts region. Approximately three days per week will be onsite in Springfield. Occasional meetings take place in the four counties of Western MA.

Responsibilities include:
•    Respond to loan inquiries, review loan requests, and conduct interviews with potentially qualified applicants
•    Underwrite loans by interviewing loan applicants, conducting due diligence, preparing  financial spreadsheets and analyzing financial data, preparing written analyses of business loan applicants and borrowers, and performing risk assessments
•    Finalize the loan process by preparing and submitting credit memos for further review, or recording and communicating loan denials in detail
•    Provide clear communication with clients concerning the outcome of their application:  terms of loan approvals; specific reasons for loan denials; and possible avenues for future success
•    Prepare and review loan documents, and conduct loan closings
•    Provide clients with assistance as needed both during the application process and during the life of the loan, working in collaboration with business assistance personnel
•    Manage borrower relationships, including annual reviews of open loans
•    Provide support with loan portfolio management, including tracking borrowers’ submission of required reports, collecting reports, and following up with borrowers as needed to ensure compliance with financial and reporting requirements
•    Establish and maintain strong, collaborative relationships with business assistance providers, banks, and other referral sources
•    Remain current on rules, regulations, and lending guidelines of all funding sources, particularly the Small Business Administration (SBA)
•    Maintain the confidentiality of the borrower and staff information at all times
•    Primary or backup responsibilities, as assigned:
         -Collect and track outputs, outcomes, and impact data related to borrowers, applicants, and loans
         -Prepare impact data reports for internal and external stakeholders

Requirements include:
•    7 years’ equivalent experience in a business or finance role, with 3 years as a field specialist in small business/CDFI lending and/or data coordination; a combination of experience plus a Bachelor’s degree may be a substitute
•    Bilingual (English/Spanish) written and verbal skills highly preferred
•    Ability to conduct due diligence and evaluate credit worthiness
•    Experience managing an accounts portfolio
•    Skilled in researching data and information and applying good judgment when reviewing loan applications
•    Demonstrated ability with Microsoft Office applications (especially Excel), and comfort learning new technologies
•    Strong in presenting data in clear, visually appealing, readable reports
•    Ability to work both independently and as a member of a team, with the capacity to communicate effectively with varied audiences
•    Ability to travel throughout Western Massachusetts for meetings and trainings

Way Finders is an Equal Opportunity Employer. This position is available to all without regard to race, color, religion, national origin, disability, age, gender or gender identity, sexual orientation, political affiliation, or veteran status. We provide reasonable accommodation for qualified individuals.
Qualifications: