Join Our Team!

EDF currently has THREE positions available. Please see the job descriptions below.  If you are interested in applying, your resume can be sent to Julie Parker at [email protected].

The Economic Development Foundation (EDF) is a Certified Development Company (CDC) that originates, closes, and services 504 Loans on behalf of the U.S. Small Business Administration (SBA). EDF currently has a staff totaling twelve employees and is located in the downtown Grandville.

Commercial Loan Closing Specialist

Effective date: February 2, 2021

The Commercial Loan Closing Specialist will work closely with the Director of Closing Operations and is responsible for the coordination of commercial loan documentation in preparation for the SBA 504 loan closing. The Commercial Loan Closing Specialist must be able to work independently and prioritize, as there are often multiple loans that are being worked on at one time.  Duties include, but are not limited to the following:

  • Work with the Director of Closing Operations and Loan Officers to understand the project;
  • Assist in managing loan closing pipeline and reporting;
  • Communicate with the lender and borrower regarding closing checklist items;
  • Collect and review documents and organize file prior to closing;
  • Work with Title Company or City/Township to problem solve, if necessary;
  • Perform pre-closing documentation reviews to ensure accuracy of all due diligence items;
  • Organizing documents for attorney review;
  • Coordinate and attend loan closings;
  • Complete follow-up on post-closing items and help prepare final closing books;
  • All necessary work to on-board loan into system once loan has funded;
  • Perform pre-closing documentation reviews to ensure accuracy;
  • Special projects as they arise.

Key Skills:

  • Bachelor’s Degree, preferred;
  • Previous bank experience preferred, but not required;
  • Strong written and verbal communication skills;
  • Sense of discretion and willingness to maintain strict confidentiality of pertinent and sensitive information;
  • Excellent time management skills;
  • Excellent attention to detail skills;
  • Strong organizational ability;
  • Ability to consistently meet deadlines.

 Salary and Benefits:

  • Salary commensurate with experience/qualifications;
  • Benefits include Medical Insurance, Dental Insurance, Health Savings Account, Expense Reimbursement, 401k, Vacation, Sick and Holiday pay.

 

Underwriter (2 positions available)

Effective date: February 2, 2021

The Underwriter will work closely under EDF’s VP of Loan Operations and Loan Officers to package and underwrite projects to the U.S. Small Business Administration (SBA) for approval.  The underwriter must be able to work independently and prioritize, as there are often multiple loans that are being worked on at one time.  Duties include, but are not limited to the following:

  • Work with Loan Officers to determine initial eligibility, credit, loan structure, and checklists;
  • Collect and review documents, and organize file prior to underwriting;
  • Complete the credit memo for loan committee submission by conducting a thorough credit analysis, including making a recommendation;
  • Be a very detailed writer and be able to research companies to provide necessary information;
  • Determine the initial credit rating based on EDF’s internal rating policy;
  • Assist EDF’s Loan Officers in presenting to loan committees, if needed;
  • Upon loan committee approval, assist Loan Officers in working to collect all needed documentation for the SBA application;
  • Enter key credit, narrative, and project information into loan software to prepare the SBA Credit Memo;
  • Prepare a loan authorization document for each application;
  • Submit the complete application package to the SBA via the loan software;
  • Coordinate follow-up on any questions from the SBA;
  • Review the final authorization from the SBA for completeness;
  • Review appraisals and submit to SBA with a recommendation;
  • Review environmental work and submit to SBA with a recommendation.

Key Skills:

  • Bachelor’s Degree, preferred;
  • Previous Bank Experience Preferred, but not required;
  • Able to research and evaluate data to make informed decision and solve problems;
  • Strong mathematical and analytical skills;
  • Sense of discretion and willingness to maintain strict confidentiality of pertinent and sensitive information;
  • Strong written and verbal communication skills;
  • Excellent time management skills;
  • Excellent attention to detail skills;
  • Strong organizational ability;
  • Ability to consistently meet deadlines.

 Salary and Benefits:

  • Salary commensurate with experience/qualifications;
  • Benefits include Medical Insurance, Dental Insurance, Health Savings Account, Expense Reimbursement, 401k, Vacation, Sick and Holiday pay.