Commercial Loan Underwriter | Denver Economic Development and Opportunity

City and County of Denver • Denver, CO

7d • $80,217 - $106,300 • Hybrid

About The Position

Denver Economic Development and Opportunity (DEDO) is seeking a Commercial Loan Underwriter to lead underwriting for small business lending programs, primarily supporting businesses that need gap financing not available through traditional lenders. This role also supports select nonprofit and Public Facilities & Improvements (PF&I) projects. The Commercial Loan Underwriter will work directly with businesses from initial inquiry through underwriting, approval, closing, disbursement, and post-loan servicing. The role will provide technical assistance to prospective borrowers, evaluate project feasibility and repayment capacity, determine the appropriate financing gap, structure loan terms, and prepare well-supported credit recommendations. This position will work closely with DEDO Finance, Business Development Program team, Contract Administration, Compliance, City legal, external lenders such as banks, credit unions, Community Development Financial Institutions, other Internal and External stakeholders. The position will also manage an assigned loan portfolio and provide ongoing financial analysis, compliance follow-up, servicing, and technical assistance to borrowers. This role is a key component of DEDO’s efforts to expand access to capital, support business growth, and advance job creation and retention in Denver.

Requirements

• Strong commercial credit and financial analysis skills, including experience reviewing business tax returns, financial statements, cash-flow projections, debt obligations, repayment capacity, collateral, and other credit-risk factors.
• Business lending and underwriting experience, preferably with SBA loans, a local or community bank, credit union, CDFI, government economic development loan program, or other small business lending institutions.
• Experience with structuring small business loans and gap-financing transactions involving multiple sources of capital, including conventional lenders, SBA financing, CDFIs, public funds, borrower equity, and other financing sources.
• Experience preparing written credit memoranda or underwriting recommendations and communicating complex financial analysis clearly to loan committees, management, borrowers, and other stakeholders.
• Experience providing technical assistance to small businesses and helping borrowers understand loan requirements, strengthen application packages, and address underwriting or documentation gaps.
• Knowledge of loan closing, collateral documentation, loan servicing, portfolio monitoring, modifications, workouts, and other post-closing lending functions.
• Knowledge and technical competency in interpreting federal and/or other governmental regulations, including CDBG requirements, compliance standards, and the specific requirements of publicly funded economic development programs.
• Ability to work independently and exercise sound judgment when evaluating credit risk, project feasibility, financing need, and proposed loan structures.
• An understanding of economic development, public policy, governmental processes, and the small business and nonprofit communities.
• Excellent communication, writing, research, analytical, organizational, interpersonal, time-management, and multitasking skills.
• Ability to take initiative, prioritize responsibilities, maintain strong attention to detail, manage multiple transactions simultaneously, and meet deadlines.
• Bachelor’s degree in Accounting, Finance, Economics, Business Administration, or a related field.
• Three (3) years of full performance, professional level experience overseeing and administering functional or operational aspects of fiscal business operations.
• One (1) year of the appropriate type and level of experience may be substituted for each required year of post-high school education.

Responsibilities

• Review new business loan inquiries and conduct preliminary eligibility and financing-gap assessments.
• Provide technical assistance to prospective borrowers regarding program requirements, application materials, financial documentation, and other information needed to submit a complete and viable loan application.
• Perform comprehensive underwriting and due diligence for small business loan requests and other assigned economic development transactions.
• Review business and personal tax returns, historical and interim financial statements, business plans, operating budgets, projections, debt schedules, credit reports, ownership and management information, and other relevant documentation.
• Analyze repayment capacity and credit risk using appropriate commercial lending practices, including cash-flow analysis, debt-service coverage, leverage, liquidity, management capacity, industry and market conditions, project sources and uses, borrower equity, collateral, and other relevant risk factors.
• Determine the demonstrated financing gap and recommend an appropriate loan structure, including loan amount, term, interest rate, repayment schedule, collateral, guarantees, covenants, conditions of approval, and other risk-mitigation measures consistent with program requirements.
• Evaluate projects that combine DEDO funding with conventional bank financing, SBA financing, CDFI financing, borrower equity, grants, or other public and private sources.
• Coordinate with participating lenders and partners to confirm the capital stack and avoid duplication of funding.
• Perform financial review and underwriting of funding applications for eligible nonprofit and PF&I projects as assigned, including Loan application for performance-based repayment plan. financial analysis, risk assessment, and underwriting recommendations.
• Prepare clear written underwriting and credit memoranda documenting the borrower, project, financing need, financial analysis, risks, collateral, repayment ability, eligibility, and recommended approval or decline.
• Present recommendations to Loan Review committee.
• Evaluate proposed uses of funds for compliance with applicable DEDO program requirements and, when HUD CDBG funds are used, become a subject matter expert on relevant HUD CDBG requirements, including eligible activities, national objectives, job creation/retention requirements, and other applicable federal compliance requirements.
• Coordinate with program and compliance staff on environmental and other federal requirements as needed.
• Coordinate and perform loan closings.
• Work with Contract Administration, City Attorney, Borrowers, and other partners to ensure all approval conditions are satisfied and required loan documents are completed, including loan agreements, promissory notes, security agreements, UCC filings, lien documents, guarantees, insurance, and other closing or collateral documentation, as applicable.
• Serve as project manager for assigned loan agreements from approval through closing and disbursement.
• Review required budgets, scopes, insurance, registrations, and supporting documentation; coordinate contract processing; and monitor progress to ensure approved funds are disbursed timely and in accordance with the loan agreement.
• Manage and monitor an assigned portfolio of existing loans.
• Review borrower financial information and loan performance, monitor repayment and compliance with loan terms and covenants, track required job or program outcomes, identify emerging credit or compliance concerns, and maintain appropriate documentation in the loan file.
• Perform due diligence and make recommendations on servicing actions and amendments to existing loans, including payment modifications, maturity extensions, subordinations, releases of liens, collateral substitutions, changes in ownership, workouts, restructures, and other borrower requests.
• Maintain complete and accurate loan tracking systems with up-to-date information regarding Insurance, collateral, risk and other federal funding required compliance documents.
• Develop and maintain relationships with banks, CDFIs, credit unions, SBA lending partners, business-support organizations, and other local financial institutions to generate referrals, coordinate financing opportunities, and market DEDO loan programs at community and business events.
• Stay current on commercial lending practices, small business credit conditions, economic development finance tools, and applicable federal, state, and local program requirements.
• Recommend improvements to underwriting guidelines, loan procedures, and practices when appropriate

Benefits

• A guaranteed life-long monthly pension, once vested after 5 years of service
• 457B Retirement Plan
• 140 hours of PTO earned within first year
• 11 paid holidays
• 1 personal holiday
• 1 volunteer day per year
• Competitive medical, dental and vision plans effective within 1 month of start date

What This Job Offers

• Job Type: Full-time
• Career Level: Mid Level