Loan Officer & Financial Specialist
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Position Summary
Are you interested in championing the work of nonprofits in Propel Nonprofits’ service area? Propel is seeking a Loan Officer & Financial Specialist to join its lending team. The ideal candidate will be a mission-driven professional with interest in community development, advancing equity in the nonprofit sector and a commitment to the mission, vision and values of Propel Nonprofits.
The Loan Officer plays an important role in the success of Propel Nonprofits $46 million loan fund and is responsible for working directly with nonprofit leaders, providing technical assistance and training, assessing financial information, and structuring loans through written credit analysis.
Reports to: Loan Fund Director
Classification: Full-time, Exempt
Essential Job Functions
The following list is not designed to comprise a comprehensive listing of activities, duties or responsibilities that may be required for this job. Duties, responsibilities and activities may change at any time with or without notice.
- Build and maintain lending relationships with nonprofit leaders, across all sectors, in Propel’s service area (including Minnesota, the surrounding states and the Native Nations that share the geography).
- Diagnose needs of potential clients, provide technical assistance around finance and management when needed, develop lending solutions for organizations.
- Guide potential borrowers through the application and underwriting process; communicate clearly to stakeholders involved in the process.
- Underwrite loan requests according to approved lending policy, prepare written credit package for committee consideration and attend committee meetings.
- Work with loan administration team to ensure accuracy of loan documentation.
- Manage relationships with borrowers, including follow-up on past due loan payments, responding to client inquiries about existing loans, and maintain current information on borrowers.
- Develop and maintain relationships with organizations and agencies providing services to nonprofits, including relationships with other financing agencies.
- Support borrower success by providing technical assistance and making referrals to internal/external service providers as needed.
- Participate in loan product development, working with lending team to move ideas forward through pilot processes to rollout.
Qualifications
- Commitment to the mission, vision, values of Propel Nonprofits and the nonprofit sector.
- Three years’ experience in at least one area directly relevant to the position: nonprofit executive leadership, nonprofit financial management, nonprofit consulting, community development, or nonprofit/small business lending.
- Broad-based knowledge of community resources, excellent financial analysis and diagnostic skills, and the capacity to provide hands-on assistance on various financial and management topics.
- Commitment to building strong relationships. Ability to work effectively in collaboration with diverse groups of people
- Excellent communication, analytical, and organizational skills.
- Flexibility to work effectively both independently and in a team environment.
- Curiosity and aptitude for learning and mastering information and financial concepts.
- Commitment to infusing a diversity, equity, and inclusion lens in work process and product.
Education and Other Training:
- Bachelor’s degree preferred or equivalent combination of education, training, and experience
- Prior experience with financial management and user-level understanding of accounting and
- Previous experience in banking or lending is not required.
We offer excellent compensation and benefits, including:
- Annual salary range of $60,000-80,000 per year depending on experience
- 32 PTO days per calendar year (prorated your first year)
- 12 personal holidays per calendar year (prorated your first year)
- Flexible work schedule in a hybrid work environment
- Health insurance
- Dental insurance
- Health savings account
- Health and dependent care flexible spending accounts
- Basic and supplemental term life insurance
- Long-term disability insurance
- Short-term disability insurance
- Other voluntary insurance benefits
- 403(b) retirement plan with employer contribution
To Apply
Interested candidates should send a cover letter and resume by 5pm CST Thursday, September 12, 2024, to hiring@propelnonprofits.org. Please use the subject line “Loan Officer/Financial Specialist.”
About Propel Nonprofits
Propel Nonprofits is an intermediary organization and federally certified community development financial institution (CDFI). We provide capacity-building services and access to capital to support nonprofits in achieving their missions, including the ability to link strategy, governance, and finance to support nonprofits through their organizational lifecycle.
Propel Nonprofits was formed by the January 2017 merger of the Non-profits Assistance Fund and MAP for Nonprofits. The two organizations came together to create a larger entity that offers a holistic approach to services that meets a larger set of nonprofit needs, including the ability to closely link strategy, governance, and finance. The merged organization has a growing 35-person staff working collaboratively to support nonprofit clients, develop and deliver excellent programs, and grow a healthy organization.
Propel Nonprofits is an equal opportunity employer.