Program Officer, Lending

Local Initiatives Support Corporation • Chicago, IL

3d • Hybrid

About The Position

LISC seeks a Program Officer, Lending & Underwriting to lead the origination, underwriting, and deployment of community development financing through the LISC Illinois program office. The role sources, structures, underwrites, and closes loans in Illinois that advance community development initiatives and support LISC’s mission of strengthening neighborhoods and expanding economic opportunity. The Program Officer provides outreach, technical assistance, and underwriting for a broad range of community development projects and asset classes, and serves as a trusted advisor to borrowers and partners throughout the lending process.

Working with LISC Illinois staff and LISC’s National Lending and Legal teams, the Program Officer manages the full lifecycle of lending transactions, from business development and underwriting through closing and portfolio support. The position calls for expertise in commercial real estate lending, credit analysis, and transaction structuring, along with attention to detail, relationship-management skills, and a customer-centered approach. It also requires strong project management and the ability to balance multiple priorities and deadlines.

This is a hybrid position based in LISC’s Chicago office and reports directly to the Deputy Director of the LISC Illinois Program Office.

Requirements

• Bachelor’s degree from an accredited college or university.
• At least 5 years of experience in commercial real estate lending, community development finance, credit analysis, underwriting, or a related field at a financial institution, nonprofit lender, government agency, or similar organization.
• Demonstrated experience structuring and underwriting complex real estate and community development transactions.
• Strong financial analysis skills, including evaluating financial statements, project development budgets, cash flow projections, and operating pro formas.
• Knowledge of community development finance tools, including public subsidies, tax credit programs, and other layered financing structures.
• Proficiency in Microsoft Office Suite, particularly advanced Excel skills.
• Exceptional written, verbal, and presentation skills, including the ability to communicate complex financial concepts to diverse audiences.
• Strong organizational and project management skills, with the ability to manage multiple transactions simultaneously and meet deadlines in a fast-paced environment.
• Ability to work independently while collaborating effectively across multidisciplinary teams.
• Relationship-building and business development experience.
• Strong customer service orientation and consultative approach with borrowers and partners.
• Knowledge of Illinois community development markets and stakeholders.
• Ability to navigate ambiguity, solve problems creatively, and exercise sound judgment in complex transactions.

Nice To Haves

• Advanced degree in finance, real estate, urban planning, public administration, business, or a related field.

Responsibilities

• Serve as the primary underwriter for Illinois-based loan transactions, working with borrowers to structure financing solutions that meet project and organizational needs.
• Support business development for LISC lending activities in Illinois through outreach, borrower education, and relationship management to cultivate and maintain a strong pipeline of lending opportunities.
• Conduct due diligence, financial analysis, and risk assessments, including reviewing organizational financial statements, development budgets, sources and uses, and operating pro formas.
• Prepare clear, comprehensive credit memoranda and underwriting recommendations for internal review and approval.
• Present loan opportunities and recommendations during LISC’s credit review process and respond to questions about transaction structure, risk, and impact.
• Work with national LISC Lending and Legal staff to manage timely loan closings, including coordinating commitment letters, negotiating key business terms, and reviewing due diligence items and loan documents for consistency with those terms.
• Collaborate with local program staff, national lending colleagues, and community partners to design and implement lending initiatives addressing community development priorities.
• Provide technical assistance and capacity-building support to nonprofit and community development partners to help position organizations for successful project execution and access to capital.
• Stay informed about market trends, public financing tools, tax credit programs, and other resources relevant to LISC’s lending activities.
• Represent LISC at conferences, trainings, and events.
• Perform other duties and special projects as assigned.

Benefits

• Medical, dental, and vision coverage.
• Long-term and short-term disability insurance.
• 401(k) and 403(b) retirement savings plans.
• Generous holidays.
• Vacation, PTO, and sick days with flexible time-off policies.
• Tuition assistance.
• Referral program with rewards for referring qualified candidates.
• Professional development opportunities, including ongoing training and development programs.

What This Job Offers

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