Loan Operations Specialist

About the Position

The Illinois Department of Commerce and Economic Opportunity (DCEO) is seeking to hire an Industrial & Community Development Representative 2 to support Illinois’ State Small Business Credit Initiative (SSBCI) programs. The Office of Entrepreneurship, Innovation & Technology (OEIT) supports entrepreneurs through various programs providing capital directly to small businesses. This position would be responsible for supporting the administration and operations of DCEO’s Advantage Illinois Participation Loan and Loan Guarantee Programs. This role will help provide low-cost capital loans to eligible businesses in Illinois to support businesses as they establish and grow, create and retain jobs, and spur economic development. We invite qualified applicants to apply for the Industrial & Community Development Representative 2 position to help provide equitable and fair access to capital to businesses in Illinois. We welcome all to apply.

Essential Functions

• Performs a comprehensive analysis on the Department’s more critical projects by evaluating the eligibility of credit proposals on business firms submitted to the Department by participating lenders.
• Assists lenders and business firms in the preparation and administration of lender and loan enrollments following the policy and procedures under the Office of Entrepreneurship, Innovation & Technology.
• Acts as a representative of the State in promoting and encouraging new industrial enterprises to locate in Illinois and assisting existing industry to develop and expand.
• Obtains loan repayment information from lenders and business firms and monitors loan repayments to ensure compliance with contract terms from lenders, loan recipients and their owners, managers, and guarantors.
• Performs other duties as required or assigned which are reasonably within the scope of the duties enumerated above.

Minimum Qualifications

• Requires knowledge and experience equivalent to completion of four years of college with concentration in one or more of the following fields: industrial development, business administration, economic geography, marketing or economics; appropriate business experience may be substituted for college on a year-for-year basis.
• Requires two years of professional experience in the field of industrial and/or community economic development.

Preferred Qualifications

• Prefer two years of experience in grant/loan administration.
• Prefer two years previous experience managing loans, preparing underwriting documentation and engaging with financial institutions.
• Prefer one or more years of experience preparing written and oral reports.
• Prefer one year of descriptive data analysis experience, can include managing reports and aggregating information to improve programs.

Conditions of Employments

• Requires appropriate, valid driver's license. 
• Requires ability to travel in the performance of duties, with overnight stays as appropriate.
• Requires completion of a background check and self-disclosure of criminal history.

The conditions of employment listed here are incorporated and related to any of the job duties as listed in the job description.

About the Agency

The mission of the Illinois Department of Commerce and Economic Opportunity (DCEO) is to create equitable economic opportunities across the State of Illinois. By attracting and supporting major job creators, investing in communities, strengthening Illinois’ world-class workforce, fostering innovation, and ushering in the new clean energy economy, DCEO works to fortify Illinois’ reputation as a global economic powerhouse while ensuring Illinois is the best state to live, work and do business.