The primary focus of the Loan Officer is to generate loan application underwrite and to close loans to qualified small business owners, and to provide and/or facilitate effective technical assistance for RBAC’s client throughout New Jersey.
Reports to the Director of Financial Programs
Pre-loan Technical Assistance
- Develop a comprehensive familiarity of area resources for assistance with all aspects of starting and operating a business, including specific help with writing a business plan an producing financial projections
- Guide potential applicants in rectifying past credit problems (resources, above, should include credit counseling services)
- Assist aspiring business owners with a savings plan to accumulate enough owner’s equity
Loan Applications and Underwriting
- Assist applicants with preparing a complete loan application
- Perform analysis of business prospects and personal financial status of business owner(s)
- Prepare 2-3 page loan analysis for review by the Director of Lending
- Present recommended loans to RBAC Loan Committee
- Close loans that are approved once all the conditions have been satisfied
Post-loan Technical Assistance
- Coordinate technical assistance with RBAC Business Mentor
- Provide assistance or referrals to help strengthen specific parts of a business
Workout
- Implement proactive strategies for early intervention with delinquent borrowers
- Recommend when collection action should be taken and implement or manage, in the case of using RBAC’s collection attorney
Marketing
- Get to know, and contact regularly, bankers that can refer potential borrowers to RBAC
- Present RBAC at chamber events, local business-owners associations, SBA community seminars, economic development seminars, etc.
Administrative
- Provide all necessary statistical data to RBAC’s Loan Accountant for new and existing
RBAC clients
- Keep track of inquiries and referrals and provide monthly activity highlights to the Program Director in a timely manner
- B.S. in Business related field
- 1 Years underwriting and 2 years working with small businesses
- Strong bilingual oral and written skills required (English and Spanish)
- Self-driven, independent and goal-oriented
- Strong organizational skills
- Knowledge of finance, accounting and marketing
- Experience in public speaking
- Insured vehicle
- Valid driver license
- Available for some evening and weekend events