The Business Development Loan Officer oversees VSEDC’s lending activities including identification of funding sources of clients, maintaining a database of requirements and terms, managing relationships with lending partners and banks.
• Works with local business owners to facilitate technical and loan packaging assistance: o Reviews client/business personal information to conduct pre-qualification assessments to determine credit-worthiness o Completes relevant documents and ensures consistency with loan application requirements o Determines most appropriate type of loan for a particular borrower o Explains specific requirements and restrictions o Submits loan packages to underwriting for review and approval o Attends loan review committee panels on behalf of clients o Provides pre-post loan counseling when necessary
• Maintains accurate records to track participants’ progress including loans applied for and/or approved; maintain physical loan program files; compile/prepare detailed reports.
• Facilitate/lead workshops on access to capital, personal/business credit management and repair, and financial management.
• Coordinate work of Business Development Specialists.
Qualifications & Experience Requirements
• Working knowledge of and experience with community development lending, Small Business Administration (SBA) loans as well as traditional and alternative loan programs. • Working knowledge of and practical experience in lending and loan packaging • Superior financial/credit analysis skills • Ability to develop and interpret financial statements applied to business accounting and finance principles • Ability to meet performance goals on a quarterly basis • Demonstrated skills in evaluating financial recommendations • Knowledge of local market including small business, financial institutions, local government agencies and community organizations • Excellent verbal, written and presentation skills. • Ability to develop and maintain effective, cooperative, working relationships with business owner clients, financial institutions, other funding sources. • Computer competency in MS Office, experience with spreadsheets (QuickBooks a plus), and familiarity with database management. • Business-related bachelor’s degree or equivalent work experience. A graduate degree is preferred (e.g., MBA). Formal credit training. • A minimum of four years experience in lending or closely related position. • Bi-lingual skills in Spanish are preferred.
Since 1981, Vermont Slauson Economic Development Corporation (VSEDC) has stimulated economic development in South Los Angeles through commercial projects, affordable housing initiatives and business development.
Through its programs and services, VSEDC manages various Commercial, Housing and Business development programs to fulfill the mission of stimulating economic development in our service area.
VSEDC’s community development activities have produced more than $60 million in physical development projects and created/retained more than 3,000 jobs in the South Los Angeles community.
Funded in part with a grant received from OCS, the Business Enterprise Center (BEC) is a micro-business incubator designed to provide affordable office space and support services for approximately 30 start-up and fledgling businesses in the community.