What are the responsibilities and job description for the Loan Officer position at CMDC?
This full-time position is responsible for the origination of SBA 504 loans for commercial real estate and equipment. The Loan Officer will also assist with the origination of Revolving Loan Funds that CMDC manages for local cities, counties and the State of Minnesota.
The annual starting base salary for this position is commensurate with experience. In addition to this starting salary, we will offer Paid Time Off and an annual bonus based on individual and company performance. As an employee of CMDC you are also eligible for our benefits program, which currently includes: Employer paid medical, dental, and vision insurance; Employer paid life and disability insurance plans; Twelve (12) paid Holidays; Employer match 401k retirement plan.
Responsibilities
• Identify and market to potential borrowers, lending partners, and other referral sources.
• Conduct on-going business development activities, including participation in various community events and organizations as a representative of CMDC.
• Meet with business owners and lending partners to determine borrowing needs, and as appropriate, initiation of an SBA 504 loan.
• Properly structure and ensure new loan requests are eligible and in compliance with SBA program policies, including the SBA Standard Operating Procedures (“SOP”).
• Facilitate the collection and analysis of financial and general business information, prepare credit memorandums with the assistance of a Business Lending Specialist, and respond to queries from CMDC Loan Committee Members and the SBA Loan Processing Center.
• Market and underwrite loans through CMDC’s community Revolving Loan Fund programs.
• Effectively manage multiple loan projects from start to closing and maintain timely and effective communication with customers, lending partners and internal teammates.
• Assist Executive Director with strategic planning.
• Assist Executive Director with identifying and implementing additional revenue streams.
Qualifications
• Bachelor’s degree, or equivalent work experience
• Qualified candidates must have 3-5 years of relevant credit and/or lending experience
• Knowledge of SBA loan programs, the 504 loan program in particular, is preferred
• Solid understanding of Financial Statements and ability to perform credit analysis
• Strong business development skills including effective presentation skills
• Proficient in Microsoft Office products (i.e. Excel, Word, PowerPoint, Teams)
• Ability to multi-task and manage multiple time-sensitive deadlines
• Professional interpersonal skills necessary for communicating with clients, lending partners, referral sources and coworkers
• Highly organized and detail oriented with the ability to work independently
• Proactive, resourceful, and innovative problem solver
• High level of personal integrity
Please reach out to Timothy J. Walker or me if you are interested in learning more.