Loan Processing Analyst II Position Description:
About TruFund Financial Services
TruFund Financial Services, Inc. ("TruFund") is a 501(c)(3) Community Development Financial Institution (CDFI), certified by the U.S. Treasury Department’s CDFI Fund and headquartered in New York City with offices in LA, AL, TX & GA. Our mission is to promote and foster economic development within underserved communities and among disadvantaged populations. TruFund achieves this by providing innovative financial solutions that have a TruImpact, revitalize communities, and create jobs. As a nonprofit, mission-driven entity, TruFund offers affordable loan capital to small businesses and nonprofit organizations that are financially viable but have difficulty accessing capital from banks or other conventional lenders.
Our lending and impact efforts are further enhanced through our two wholly owned subsidiaries: Empowerment Reinvestment Fund, a National CDE offering New Markets Tax Credit to enable access to private investment in distressed communities, and our Tru-Capital Investment Fund – Impact Developers Fund, which provides equity capital to established underrepresented affordable housing developers nationally.
TruFund was established in 2005 as a nonprofit organization dedicated to advancing economic opportunities for people, businesses, and communities in need.
Position Summary
Reporting to the Senior Loan Processor, TruFund Financial Services is seeking a loan processor II to join the team of our growing nonprofit community development financial institution and manage all aspects of its lending operations including tracking and reporting on loan production activity within our CDFI investment areas and foot print states to ensure full compliance with Investor and lender program and deployment objectives, applicable state and federal laws and other reports as needed to support Senior Management. Experience in loan processing including in-depth understanding and knowledge of small business and real estate lending processing and procedures.
Estimated Salary: [$50,000 - $55,000] per year as well as a full benefits package that includes health, life, dental and disability insurance, sick leave, 2 weeks’ vacation and 12 paid holidays per year. In addition, the position will be remote but preferably based in Atlanta, GA.
Key Responsibilities:
1. This role will primarily support the organization’s Contractor Finance Lending program.
2. Process loan requests in our loan process system.
· Work with the borrowers to complete the loan process as well as upload all relevant loan documents.
· Working with the closing department to ensure successful loan closings.
· Work in concert with and support Loan Officers in various markets.
· Establish and maintain an efficient and productive working environment within the department based on continuous and effective staff communications.
· Work in concert with Credit team to continue to process all loan files.
· Developing strong partnerships with business line leaders to support strategies and initiatives balancing
risk with the business line’s financial goals.
· Responds to inquiries from executive and senior management as well as inquiries from compliance, credit administration, lending staff, lenders and investors to answer questions, provide documentation, explain procedures, interpret policy, resolve discrepancies, and handle complex problems.
· Provides technical advice and guidance to others on lending related loan software applications, systems, and processes. Maintain and demonstrate proficiency with our loan software applications.
· Perform other loan operations duties as required.
KNOWLEDGE, EXPERIENCE, SKILLS, AND ABILITIES REQUIREMENTS
Education and Related Work Experience:
· BS/BA
· 2-5 years of related work experience (Lending /Loan administration) preferably within the non-profit community develop financial sector.
· Prior work-related experience with Small-Balance ($1Million - $5Million) Commercial Real-estate Lending, community development lending, Small Business Administration (SBA) loans, as well as traditional and alternative loan programs is beneficial.
· Existing Book of Business. Able to hit the ground running by bringing new loans to TruFund.
Knowledge, skills, and abilities:
· Thorough understanding of CDFI lending operations and non-profit community development lending credit policy/guidelines
· Experience in Small Business lending and Real Estate Loan Administration.
· Must be knowledgeable of loan operations processes.
· Advanced written, oral and interpersonal skills
· Proficiency with personal computers and related software
· Excellent knowledge of data analysis and forecasting methods
· Expertise in MS Excel and Microsoft Office Suite.
· Must be proficient in Windows-based software.
· Must possess the ability to meet performance goals.
· Knowledge of local markets (e.g. NY, NJ, TX, GA) including financial institutions, local government, and community organizations; and an understanding of local priorities, opportunities and challenges are preferred.
· Position is remote, prefer incumbent to be based in New York.
\nCompany Description
TruFund Financial Services, Inc. ("TruFund") is a 501(c)(3) Community Development Financial Institution (CDFI), certified by the U.S. Treasury Department’s CDFI Fund and headquartered in New York City with offices in LA, AL, TX & GA. Our mission is to promote and foster economic development within underserved communities and among disadvantaged populations. TruFund achieves this by providing innovative financial solutions that have a TruImpact, revitalize communities, and create jobs. As a nonprofit, mission-driven entity, TruFund offers affordable loan capital to small businesses and nonprofit organizations that are financially viable but have difficulty accessing capital from banks or other conventional lenders.
Our lending and impact efforts are further enhanced through our two wholly owned subsidiaries: Empowerment Reinvestment Fund, a National CDE offering New Markets Tax Credit to enable access to private investment in distressed communities, and our Tru-Capital Investment Fund – Impact Developers Fund, which provides equity capital to established underrepresented affordable housing developers nationally.
TruFund was established in 2005 as a nonprofit organization dedicated to advancing economic opportunities for people, businesses, and communities in need.
Company DescriptionTruFund Financial Services, Inc. ("TruFund") is a 501(c)(3) Community Development Financial Institution (CDFI), certified by the U.S. Treasury Department’s CDFI Fund and headquartered in New York City with offices in LA, AL, TX & GA. Our mission is to promote and foster economic development within underserved communities and among disadvantaged populations. TruFund achieves this by providing innovative financial solutions that have a TruImpact, revitalize communities, and create jobs. As a nonprofit, mission-driven entity, TruFund offers affordable loan capital to small businesses and nonprofit organizations that are financially viable but have difficulty accessing capital from banks or other conventional lenders.\r\n\r\nOur lending and impact efforts are further enhanced through our two wholly owned subsidiaries: Empowerment Reinvestment Fund, a National CDE offering New Markets Tax Credit to enable access to private investment in distressed communities, and our Tru-Capital Investment Fund – Impact Developers Fund, which provides equity capital to established underrepresented affordable housing developers nationally.\r\n\r\nTruFund was established in 2005 as a nonprofit organization dedicated to advancing economic opportunities for people, businesses, and communities in need. Read LessCompany Overview:
TruFund Financial Services, Inc. (“TruFund”) is a 501(c)(3) Community Development Financial Institution (CDFI), certified by the U.S. Treasury Department’s CDFI Fund. Headquartered in New York City. Our mission is to promote and foster economic development within underserved communities and among under-resourced populations. TruFund achieves this by providing innovative financial solutions that have TruImpact, revitalize communities, and create jobs. As a nonprofit, mission-driven entity. TruFund offers affordable loan capital to small businesses and nonprofit organizations that are financially viable but have difficulty accessing capital from banks or other conventional lenders. We also have field offices in Louisiana, (New Orleans and Baton Rouge) Georgia, (Atlanta) Texas (Houston and Dallas) and Alabama (Birmingham).
Position Summary
The core responsibilities include processing loan applications, evaluating credit data, cooperating with underwriting teams, explaining and negotiating terms for the loan, and delivering excellent customer service all through the lending process. Working out of the Texas market, the Loan Officer will be responsible for identifying and expanding lending opportunities in Texas with a focus on providing loan financing and technical assistance to small businesses and nonprofit organizations.
Reporting to the SVP & Chief Lending Officer the Loan Officer will work closely with borrowers and with members of the lending team to find the most suitable financing solutions for our clients and to effectively manage the loan process from origination through loan booking. The loan officer will continue to actively manage the borrower relationship throughout the term of the loan.
The Loan Officer should either be based in the Georgia or Louisiana market as they will work directly with Georgia and or Louisiana based community partners to source lending opportunities and to develop loan programs to support underserved small business including contractors and those small business owners seeking to acquire commercial properties in which to operate their business.
The Loan Officer will provide pre and post loan technical assistance, conduct initial credit analyst, develop cashflow projections, loan packaging and support the Chief Lending Officer
Primary Job Functions:
· Meet with loan applicants to collect financial and related data on prospective borrowers to determine the merits of the specific loan request.
· Guides borrowers through the application process and negotiate, where necessary, terms under which credit will be extended, including the costs, repayment method and schedule and collateral requirements.
· Evaluates loan applicants and reviews appraisals, credit reports, and other necessary information to evaluate loan requests.
· Coordinates with loan processors and underwriters to ensure the accuracy and completeness of loan analysis and documentation and to ensure that new loan requests comply with loan underwriting, product and program policies and guidelines.
· Increase TruFund’s loan program visibility, enhance new business opportunities and participate in activities that promote TruFund’s programmatic and community development lending activities.
· Participates in special projects designated by the Chief Lending Officer and other senior managers including the delivery of educational workshops and presentations on industry panels and at community events.
· Works closely with loan collections staff to contact borrowers with delinquent loan accounts to help them find a method of repayment in order to avoid their defaulting on the loan.
· Cultivates new lending opportunities in target underserved markets and responds to referrals (internal and external) in a timely, professional manner.
· Promotes a positive attitude and team approach to customer relationships
MINIMUM QUALIFICATIONS:
Education and Related Work Experience:
BS/BA required in Finance or similar area of studyMinimum 5-7 years of lending experience with formal credit training is required.Prior work-related experience with community development lending, small business administration (SBA) loans, as well as traditional and alternative loan programs is also requiredKnowledge, skills, and abilities:
Strong financial skills and ability to develop and interpret financial statements applied to business accounting and finance principles are required.Superior analytical skills are required.A working knowledge of Small Business Administration (SBA) Loan Programs, Policies and Procedures as well as traditional and alternative Loan Programs is beneficial.Must be proficient in Windows based software.Ability to travel to visit prospective and current clients as necessary.Must possess the ability to meet performance goalsKnowledge of the New York market including financial institutions, local government, and community organizations; and an understanding of local priorities, opportunities and challenges are preferred.Strong commitment to community and economic development idealsStrong interpersonal skills and proven ability to work effectively with a wide variety of people and organizations, and in racially, ethnically and socioeconomically diverse environments.High degree of self-motivation, creativity and flexibility in face paced environment.\nCompany Description
TruFund Financial Services, Inc. ("TruFund") is a 501(c)(3) Community Development Financial Institution (CDFI), certified by the U.S. Treasury Department’s CDFI Fund and headquartered in New York City with offices in LA, AL, TX & GA. Our mission is to promote and foster economic development within underserved communities and among disadvantaged populations. TruFund achieves this by providing innovative financial solutions that have a TruImpact, revitalize communities, and create jobs. As a nonprofit, mission-driven entity, TruFund offers affordable loan capital to small businesses and nonprofit organizations that are financially viable but have difficulty accessing capital from banks or other conventional lenders.
Our lending and impact efforts are further enhanced through our two wholly owned subsidiaries: Empowerment Reinvestment Fund, a National CDE offering New Markets Tax Credit to enable access to private investment in distressed communities, and our Tru-Capital Investment Fund – Impact Developers Fund, which provides equity capital to established underrepresented affordable housing developers nationally.
TruFund was established in 2005 as a nonprofit organization dedicated to advancing economic opportunities for people, businesses, and communities in need.
Company DescriptionTruFund Financial Services, Inc. ("TruFund") is a 501(c)(3) Community Development Financial Institution (CDFI), certified by the U.S. Treasury Department’s CDFI Fund and headquartered in New York City with offices in LA, AL, TX & GA. Our mission is to promote and foster economic development within underserved communities and among disadvantaged populations. TruFund achieves this by providing innovative financial solutions that have a TruImpact, revitalize communities, and create jobs. As a nonprofit, mission-driven entity, TruFund offers affordable loan capital to small businesses and nonprofit organizations that are financially viable but have difficulty accessing capital from banks or other conventional lenders.\r\n\r\nOur lending and impact efforts are further enhanced through our two wholly owned subsidiaries: Empowerment Reinvestment Fund, a National CDE offering New Markets Tax Credit to enable access to private investment in distressed communities, and our Tru-Capital Investment Fund – Impact Developers Fund, which provides equity capital to established underrepresented affordable housing developers nationally.\r\n\r\nTruFund was established in 2005 as a nonprofit organization dedicated to advancing economic opportunities for people, businesses, and communities in need. Read Less