Loan Program Director

Job Overview
To manage the Commission’s Loan Department and administer economic lending programs to meet the financing needs of businesses and entrepreneurs within the six-county region.

Duties

• Oversee entire loan portfolio and the administration of Economic Development Administration Revolving Loan Funds, Appalachian Regional Commission Revolving Loan Fund, the Pennsylvania Industrial Development Authority Loans, State Small Business Credit Initiative Revolving Loan Fund, USDA Rural Development Revolving Loan Funds, micro loan programs and the local or county loan program administrative contracts.
• Design and implement Loan Program policies, procedures, and borrowing requirements within funding source parameters by developing workplans for revolving loan funds that will optimize response to current economic conditions and support regional economic strategic objectives and goals.
• Promote and coordinate lending opportunities by developing and maintaining relationships with businesses, entrepreneurs, banks, and economic development partners.
• Meet with potential borrowers to determine financing needs, program eligibility, and referrals to other business assistance resources.
• Structure loan requests ensuring compliance with program requirements and coordinate with applicant’s lending institution for private leveraged financing.
• Underwrite loan applications and prepare credit proposals for review by Loan Review Committee.
• Supervise program staff by monitoring performance, providing guidance/training and guiding professional development.
• Conduct regular (min. of one per year) site visits with borrowers as part of required reporting and monitoring process.
• Coordinate and oversee meetings of Loan Review Committee by presenting all information required in the decision-making process for loan applications and program-related matters Recruit and maintain membership requirements in accordance with bylaws and approved policies and procedures.
• Represents Loan Program at Board of Directors’ meetings by presenting loan and other program-related recommendations from the Loan Review Committee for approval.
• Prepare and monitor loan program administrative budgets. Coordinate and oversee loan fund balances relative to program continuation, expansion, and guidelines of contracted funding sources by monitoring loan disbursements/commitments/repayments
• Secure funding for recapitalization of loan funds and/or new initiatives by preparing applications to funding sources.
• Monitor and address delinquent accounts by communicating with borrowers, developing work-out plans, and coordinating collection activities with legal counsel for confessions of judgments, bankruptcies, foreclosures, and liquidations.
• Monitor all approved loan activities in accordance with fiscal management practices established for respective programs.
• Prepare for and interface with internal, state, and federal funding source auditors and regulatory agencies.
• Attend training conferences and maintain economic development finance certification as required by the various loan program administrative contracts.

REPORTS PREPARED:

Loan Department Reports to the Board of Directors

Quarterly ARC Federal PREP Reports

Quarterly, Semi-Annual, and Annual Reports to RLF funding sources

Quarterly CEDO Portfolio Management Reports to PA Industrial Development Authority

Monthly Loan Fund Balance Report to the Loan Review Committee

Monthly Delinquency/Collection Report to the Loan Review Committee

INTERFACE:

Internal - Must interface positively with the Commission staff, Loan Review Committee, and Board of Directors.

External - Must maintain positive rapport with commercial lenders, regional businesses & entrepreneurs, PREP Partners, funding source staff, accountants, and attorneys.

QUALIFICATIONS:

Education – Bachelors degree in Business Administration, Finance, Accounting or related field preferred.

Experience – 5 years experience in credit analysis/loans/mortgages and legal lending practices.

SPECIAL REQUIREMENTS:

Certification or ability to obtain certification in Economic Development Finance or its equivalent by the National Development Council or similar organization.

Ability to complete training in finance/lending annually to meet recertification requirements as a Certified Economic Development Organization

Frequent travel within the region and overnight travel as required.

Understanding of credit analysis, business and personal financial statements, spreading financial statements, and collateral valuations.

Must have excellent communication skills, including listening and speaking abilities.

Must have exceptional interpersonal skills and the ability to influence opinions.

Ability to exercise sound judgment and make decisions.

Ability to troubleshoot and take initiative to solve problems.

Must be able to supervise the work of others.

Must have good computer skills, including spreadsheet, word processing, and loan portfolio software.

Sitting: 75 %; Walking/standing: 25%

Vision and hearing correctable to within normal range.

EQUIPMENT UTILIZED

Personal computer and printer.

General office equipment, i.e. fax machine, copiers, etc.

POSITION DIMENSIONS:

No. of employees supervised directly: 1

No. of employees supervised indirectly: 0

Job Type: Full-time

Pay: $54,366.00 - $65,178.00 per year

Benefits:

• 403(b) matching
• Dental insurance
• Health insurance
• Health savings account
• Life insurance
• Paid time off
• Retirement plan
• Vision insurance

Schedule:

• Monday to Friday

Experience:

• credit analysis, loan, mortgages and/or legal lending: 3 years (Required)

Ability to Commute:

• Ridgway, PA 15853 (Required)

Work Location: Hybrid remote in Ridgway, PA 15853

Salary : $54,366 - $65,178