The Economic Development Foundation (EDF) is a Certified Development Company (CDC) that originates, closes, and services 504 Loans on behalf of the Small Business Administration (SBA). EDF currently has a staff totaling eight employees and is located in the downtown Grand Rapids area.
Loan Officer/Underwriter Position
The Loan Officer/Underwriter will work closely under EDF’s VP of Loan Operations and Senior Loan Officers to package and submit loans to the U.S. Small Business Administration (SBA) for approval. The loan officer 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:
- Determine initial eligibility, credit, and loan structure;
- Initial credit rating based on EDF’s internal rating policy;
- Be a very detailed writer and be able to research company to provide necessary information that is not often provided by lender;
- Complete the credit memo for loan committee submission by conducting a thorough credit analysis, including making a recommendation;
- Assist EDF’s Senior Loan Officer in presenting to loan committees, if needed;
- Upon loan committee approval, assist Senior Loan Officer in working with the TPL and borrower to collect all needed documentation for the 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 and eTran;
- Coordinate follow-up on any questions or screen-outs from the SLPC;
- Review the final authorization from the SBA for completeness.
- Bachelor’s Degree Preferred or three-year commercial lending experience;
- 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
If interested, submit a resume and cover letter to [email protected]. Effective date: September 3, 2020.