Commercial Loan Officer

Southwest Initiative Foundation•Hutchinson, MN

6d•Hybrid

About The Position

This position is responsible for originating, underwriting, and managing commercial loans and business financing programs. The role engages prospects, applicants, and partners; structures and negotiates financing solutions; and oversees loan closing, servicing, and portfolio management. This position also ensures compliance and reporting for multiple state and federal programs, while providing technical assistance to support borrower success and program effectiveness.

Requirements

Demonstrated ability to act independently, apply discretion and confidentiality, think critically and analytically, negotiate, and persuade; demonstrates strong situational awareness and self-awareness to act empathetically in difficult and complex situations.
Knowledge of managing government funding programs, including compliance and reporting requirements.
Strong written and verbal communication skills, along with program management, and stakeholder relationship management skills.
Proficient in Microsoft Outlook, Excel, and Word, and database management; proficiency in bookkeeping software.
Strong understanding of economic development, credit analysis and commercial finance, business operations and management, business technical assistance including operations and financial management, fundamentals of entrepreneurship, and available resources for small businesses.
Knowledge and understanding of the southwest Minnesota economy including the network of key stakeholders regionally, statewide, and nationally.
Ability to work collaboratively as part of a team in a fast-paced environment and effectively manage multiple demands and deadlines.
Associate’s degree in accounting, business administration, finance, or a related field, or equivalent combination of education and relevant work experience.
Minimum of three years of experience in commercial business finance.
Minimum of three years of experience working directly with entrepreneurs and small business owners, including experience with economic development programs or organizations.
This position requires significant regional travel (estimated 2–3 days per week), as well as occasional state or national travel.
Must provide personal transportation to travel as needed.

Nice To Haves

Five or more years of experience in commercial business finance.
Additional experience working directly with entrepreneurs and small business owners, particularly within community development or mission-based lending programs.

Responsibilities

Conduct comprehensive credit analysis using independent judgment and discretion for multiple business finance programs, including United States Small Business Administration (SBA) Microloan Program, United States Department of Agriculture (USDA) Rural Microentrepreneur Assistance Program, Southwest Minnesota Community Capital (SMCC), Minnesota Emerging Entrepreneur Loan Program and other Minnesota Department of Employment and Economic Development (DEED) programs, and other special business financing initiatives.
Review of business plans; historical and projected business cash flow statements, profit and loss statements, and balance sheets; credit bureau reports; business and personal income tax returns; personal financial statements; business and personal collateral/security; organizational/governance documents; audits, contracts, and other due diligence information to complete an accurate financial analysis for each applicant.
Review business projections and assumptions for reasonableness to complete the financial analysis and underwriting process.
Provide pre-loan technical assistance to borrowers by assisting prospects and applicants with business planning, loan application preparation, and related processes for application submission and efficient business operations.
Prepare financing recommendations and coordinate applicable internal approval processes including loan committee meetings, President approvals, and Board ratifications/approvals, using independent judgment and discretion.
Communicate credit decisions to applicants and project partners. Negotiate terms and conditions as warranted.
Prepare loan closing documents, internal loan files, intercreditor agreements, and other documents in compliance with applicable government regulations and Foundation policies and procedures.
Execute filings and registrations to ensure that security interests are perfected, including UCC filings, mortgages, and other pledges of business or personal assets.
Provide portfolio management throughout the term of the loan including insurance, forbearance requests, payoff management, restructuring requests and complex payment issues, substitutions or releases of collateral, collections, and other elements of a mission-based commercial loan portfolio.
Ensure that all loans are made in adherence with federal, state, Foundation, and other funder policies, procedures, guidelines, and applicable laws.
Enforce adherence to requirements and advise management on needed actions.
Maintain up-to-date knowledge of SBA, USDA, and DEED products, rules and regulations, and applicable laws and policies.
Assist in preparing reports, budgets, expenditure analysis, funding requests, and all other steps needed for compliance with funding from SBA, USDA, DEED, the Community Development Financial Institutions (CDFI) Fund, and any other program funders as applicable.
In collaboration with the Entrepreneurship Program Manager, provide direct technical assistance to borrowers including, but not limited to, accounting and financial management, sales and marketing, operations, governance, and general business management.
Perform borrower site visits and review routine financial statements and income tax returns submitted by borrowers.
Manage the budgeting and payment processes including engagement with accounting staff, management of incoming invoices, and related steps to align with internal policy and procedure, external regulation from funders, and other internal or external guidelines and requirements.
Support the certification, launch, and implementation of the Southwest Minnesota Community Capital emerging CDFI including, but not limited to: research, resource procurement, due diligence, strategy, budgeting and sustainability assessment, organizational design, donor and funder relations, compliance, reporting, and brand promotion.
Participate in internal staff functions, team meetings and events.
Perform other duties as assigned.
Perform established processes and procedures to maintain the accuracy, completeness, and security of the organization’s data within your area of responsibility.
Ensure data is entered, updated, and managed following organizational standards and best practices.
Regularly review and verify data to identify and correct errors or inconsistencies and collaborate with team members to improve data management practices.