Business Loan Officer
This position is responsible for business loan origination, underwriting, loan closing, and loan servicing to small businesses, some of whom will be graduates of Anchorage Community Land Trust’s (“ACLT”) alumni of their Set-Up Shop program. Originate small business loans and micro-loans while promoting CILC’s mortgage loans products and homebuyer grant programs. Ensure that standard company and any state, federal and granting/funding agency policies are followed. Develop and maintain relationships with the real estate, lending, Tribal and non-profit sectors and partners. Assist with the development of CILC’s Small Business Lending Program.
Major Activities (Typical Duties/Responsibilities)
- Market business loan products to the local community, Tribal entities, individuals and small business entrepreneurs in the Anchorage municipality.
- Develop and maintain personal marketing strategies and campaigns.
- Develop and maintain loan referral relationships with professionals in the Anchorage community, accounting, non-profit, Tribal, legal and financial planning fields.
- Promptly respond to all inquiries and online applications resulting from Cook Inlet Lending Center’s extensive marketing efforts.
- Maintain a clean pipeline with an organized follow-up program and clear communication in relation to closing dates, extensions, etc.
- Maintain knowledge of lender's underwriting criteria.
- Effectively screen prospects to identify those that meet lender's underwriting criteria and organizational mission objectives.
- Originate the business loan application, and prepare closing documents.
- Prepare the underwriting report and present the loan request to the Loan Committee.
- Manage a loan portfolio of approximately 40 borrowers with regular follow-up with the borrowers, providing loan restructure options when necessary, and following the Loan Delinquency Procedures.
- Work closely with eligible CILC and ACLT loan applicants, analyzing business plans and financial statements, tax returns, determining feasibility of income and cash flow projections, determining value of collateral, analyzing credit reports and other necessary documentation, work with General Manger and borrower on any issues or problems.
- Handle phone and walk-in loan inquiries, assessing potential applicants’ eligibility according to CILC lending guidelines
- Ensure all loans are originated, disclosed and/or re-directed accurately and timely within all established regulatory compliance requirements and timeframes.
- Ensure accurate processing is completed in a timely manner and prepare for submission to underwriting.
- Create and maintain reports to keep staff and management up to date at weekly loan review meetings and as needed for management reporting.
- Effectively communicate to staff the status of borrower files on a regular basis and engage other team members as appropriate.
- Assist with the design and development of the CILC Small Business Lending Program, Policies and Procedures.
- Other duties as assigned.
Skills and Abilities
- Knowledge of practices, procedures, materials and typical office equipment.
- Must be available to travel occasionally within the state of Alaska and outside Alaska for approved training and/or meet with Tribal entities.
- Demonstrated ability to work as a team member and utilize good communication skills both in oral and written form.
- Ability to work with clientele of varying ages, financial status, linguistically challenged, economically and culturally diverse demographics.
- Must be able to work effectively with Tribal authorities/entities.
- Must have excellent people skills with ability to work through communication barriers or challenges.
- Working knowledge in Outlook and Microsoft Office Suite.
- Excellent customer service experience and people skills.
- Superior analytical skills with the ability to work with numbers, statistics and other technical data.
- Comfortable making presentations to an audience.
- Excellent organizational skills and the ability to handle multiple tasks and deadlines.
- Valid Alaska Driver’s License
Education and Experience
- Bachelor's degree in business administration, or accounting, banking, community development, urban studies, or related discipline.
- Significant employment experience in business management, accounting, marketing, sales, retail, internet-based business, etc.
- Two years of experience in small business lending and/or community development
- Experience in mortgage or consumer lending, real estate, accounting, CDFI, banking, or financial planning or financial coaching may be substituted for college on a year-for-year basis.