Community Loan Officer

Position Summary

The Women’s Opportunities Resource Center (WORC) and its subsidiary The Economic Opportunities Fund (EOF) are both certified Community Development Financial Institutions that provide financial and technical assistance to micro-entrepreneurs and businesses in the Philadelphia area. WORC is the first microenterprise program for low-income people in Philadelphia, and one of the first in the nation. WORC provides entrepreneurial training, individual business assistance, incentive-savings programs, and access to business and financial resources. They are looking to hire a full-time Community Loan Officer to join the organization on a full-time basis.

WORC offers a range of small business micro-financing products ranging from $500 to $50,000 and we link customers to a comprehensive array of financial education and other services provided by WORC. In addition, WORC is also a Small Business Administration (SBA) Community Advantage (CA) lender that loans up to $350,000 to assist entrepreneurs in purchasing the real estate they operate out of. The ideal candidate has existing contacts with local financial institutions, economic development and business assistance organizations, community organizations, professional associations, economic development agencies, and/or small business development centers. This full-time position is based in the Philadelphia office and reports directly to the Director of Lending.

Essential Duties And Responsibilities

• Contribute to the expansion of the loan portfolio, particularly focusing on loans in the range of $1,000 to $50,000. Originate, package, and close a minimum of 20 small business loans annually, ensuring compliance with each funding source's requirements. Submit loan applications with credit memos, required documents, and loan officer recommendations to the MMS (LiftFund) for underwriting and present loans to the loan advisory council for approval.
• Attract and engage clients through the establishment of community relationships, distribution of announcements, and collaboration with other WORC staff members to host networking and introductory events.
• Originate, package, and underwrite loans in accordance with production expectations. Submit loans, including the necessary documentation and loan officer recommendation, to MMS (LiftFund) for underwriting and, when necessary, present loans to the loan advisory council for approval.
• Visit the workplaces of community business owners to collect necessary documents and provide assistance in preparing clients for loans, “loan ready”.
• Manage a peer circle lending group which involves evaluating clients' credit applications and financial records to assess their eligibility for a loan.
• Deliver personalized support to entrepreneurs and business proprietors throughout the lending process to discover, identify, and address financing and business development needs.
• Provide pre and post-loan training and technical assistance while also referring clients to WORC programs and/or external resources.
• Collaborate with various departments to optimize new business development and marketing initiatives throughout the organization.
• Participate in WORC staff and program meetings, and perform other related duties, as assigned.
  
  

Required Knowledge, Experience, And Skills

• 2+ years of experience in community or economic development and/or micro-finance with lending institutions, government loan programs, or community lenders. Prior lending experience, specifically with CDFI or micro-lending programs is a plus.
• Associate’s degree in business administration, finance, community development, marketing, or a relevant discipline. Bachelor’s degree preferred.
• Solid understanding of small business financing rules and regulations.
• Exhibit genuine interest in community development, economics, and/or micro-finance.
• Proficient networking abilities, with a knack for cultivating and sustaining collaborative relationships.
• Exhibit effective public speaking skills and a proven track record in marketing, sales, and community organizing.
• Efficient and well-organized self-motivator with a robust grasp of analytics and finance.
• Proficiency in multitasking and strong computer skills.
• Display exceptional organizational skills, self-motivation, and the ability to handle multiple tasks simultaneously.
• Embrace a customer-centric approach, displaying patience, flexibility, and a willingness to provide and receive constructive feedback while maintaining a sense of humor.
• Preferably, have knowledge of Philadelphia and its surrounding four counties, with the readiness and capability to travel throughout the region for marketing and outreach efforts.
• Availability to work some evenings and weekends may be required for attending meetings, seminars, and events.
  
  

Work Environment

The work environment characteristics described here are representative of those an employee encounters while performing the essential functions of this job. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.

Physical Demands

The physical demands described here are representative of those that must be met by an employee to successfully perform the essential functions of this job. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.

The above job description is not intended to be an all-inclusive list of duties and standards of the position. Incumbents will follow any other instructions, and perform any other related duties, as assigned by their supervisor.

Application Process

Interested parties should email their email your resume with cover letter and salary requirements .

WORC/EOF is an equal opportunity employer, and we value diversity at our company. We do not discriminate on the basis of age, ancestry, color, gender identity or expression, genetic predisposition or carrier status, marital status, national or ethnic origin, race, religion or belief, sex, sexual orientation, sexual and other reproductive health decisions, parental or caring status, physical or mental disability, pregnancy or maternity/parental leave, protected veteran status, status as a victim of domestic violence, or any other classification protected by applicable law. We also provide reasonable accommodations for qualified individuals with disabilities and for sincerely held religious beliefs in accordance with applicable law.