What are the responsibilities and job description for the Loan Processing Coordinator, Lending position at PIDC?
Philadelphia Industrial Development Corporation (PIDC) is Philadelphia’s public-private economic development corporation. Our mission is to spur investment, support business growth, and foster developments that create jobs, revitalize neighborhoods, and drive growth to every corner of Philadelphia. You can learn more about PIDC at pidcphila.com.
PIDC is committed to driving transformative growth for Philadelphians with a human-centered approach by directing our financial and real estate services, knowledge, and networks toward creating a vibrant and sustainable Philadelphia. To achieve this mission, PIDC focuses on five areas :
- CAPACITY : Create and sustain internal capacity and external partnerships to scale the availability and breadth of economic development resources and solutions.
- CAPITAL ACCESS AND SERVICES : Expand financing and business support services to benefit under-resourced communities and marginalized populations.
- LAND USE : Catalyze development of projects that create quality jobs, advance equity, and promote sustainability.
- KNOWLEDGE AND NETWORKS : Share knowledge and networks to respond to clients, partners, and market needs.
- EMPLOYEE WELL-BEING : Elevate the physical, mental, and financial well-being of PIDC employees and provide opportunity for each to thrive and grow professionally.
PIDC is governed by a thirty-member Board of Directors, appointed by the Mayor of Philadelphia and the President of the Greater Philadelphia Chamber of Commerce. The staff includes approximately 60 full-time employees, and PIDC’s current 12-member senior leadership team has a combined 150 years of experience at PIDC. The organization’s annual budget of approximately $12M is funded by a combination from fees generated by PIDC’s transaction activities, service and management contracts, and contributed revenue.
Over the past 65 years, PIDC has settled over 13,300 transactions with a diverse range of clients – including more than $19.5 billion of financing and 3,400 acres of land sales – which have leveraged tens of billions of dollars in total investment and assisted in retaining and creating hundreds of thousands of jobs in Philadelphia. For more information, please visit : pidcphila.com.
POSITION RESPONSIBILITIES -
Specific responsibilities include, but are not limited to, the following
As a Loan Processing Coordinator at PIDC, specializing in small business, real estate, and New Markets Tax Credit (NMTC) transactions, you will play a vital role in ensuring the efficient and compliant administration of our loan portfolio. The Loan Processing Coordinator will be expected to support the Lending team on a variety of complex and creative funding sources, including but not limited to HUD 108, CDBG, PIDA, NMTC, SSBCI, EB-5, and Tax Increment Financing (TIF). The Loan Processing Coordinator will be involved in the entire life of the loan process, from the inquiry stage to application, underwriting, credit approval, loan closing, and post-closing compliance. Specific tasks include, but are not limited to :
party appraisals and environmental assessments, paying vendor invoices, and other due diligence requests.
PIDC loan programs are complex and are not commonly used. PIDC would not expect the applicant to have direct experience with any loan program. The Loan Processing Coordinator will be trained on the specific compliance requirements of the loan programs.
QUALIFICATIONS AND EXPERIENCE :
The Loan Processing Coordinator must be able to perform a high volume of work involving coordination of multiple PIDC departments, clients, and government staff, typically performed in a deadline-driven environment. This effort requires the highest degree of professionalism under pressure including excellent oral and written communication skills, and quantitative, software, and organizational abilities. Specific qualifications include :
