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Commercial Loan Officer

Posted on September 22, 2022

Date: 2022
Position Title: Commercial Loan Officer
Division: Lending
Level: Level 4- Program Specialist
FLSA Status: Exempt
Reports To: Director of Lending and Investments
Primary Office: Bangor, Maine

Position Summary

Eastern Maine Development Corporation, a private, non-profit, mission-based lender, is seeking a new Loan Officer to join its Lending Department team. Particular focus will be given to EMDC’s participation in the U.S. Small Business Administration’s (SBA) 504 and Community Advantage 7(a) loan programs as well as EMDC’s direct lending programs.

The Loan Officer will establish mutually beneficial relationships with banking partners including commercial loan officers; state and federal agencies including the SBA, USDA, EDA, and Finance Authority of Maine (FAME); partner non-profit organizations such SCORE and SBDC; and individuals. The candidate chosen to fill this position will provide loans and referrals for small businesses, and market all of EMDC’s programs and services.

Essential Functions

  • Contribute to loan production goals by identifying lending opportunities and originating new loans
  • Work with partners on loan participations
  • Structure loans in compliance with internal credit guidelines and program requirements
  • Prepare and negotiate loan proposals under the supervision of the Director of Lending
  • Manage the loan process from deal screening to loan approval
  • Interviewing loan applicants
  • Analyzing financial statements and business plans
  • Preparing credit memos for presentation to EMDC’s Loan Committee
  • Some loan servicing, as necessary
  • Work closely with Lending and Finance staff to ensure excellent customer service
  • Understand and promote other EMDC programs such as Workforce Services and Business Services (contracting) to potential and current borrowers
  • Represent EMDC on panels and manage relationships with partners and borrowers
  • Other duties as assigned

Job Requirements

This person must demonstrate professionalism, have high energy, be enthusiastic, be highly motivated, value teamwork, have the ability to manage multiple projects and initiatives, and have problem-solving skills. Familiarity with SOPs relating to the SBA 504 and 7(a) loan programs as well as rules and regulations governing EDA and USDA programs is preferred. EMDC is willing to expand the role within the Lending Department and organization for certain qualified applicants.

Core Competencies

  • Computer skills: Skilled in the use of computers, adapts to new technology, learns new programs quickly, uses computers to improve productivity.
  • Customer service: Handles customer/client questions and complaints, communicates with customers/clients, handles service problems politely and efficiently, always available for customers/clients, follows procedure to solve customer/client problems, understands company products and services, maintains pleasant and professional image.
  • Dependability: Meets commitments, works independently, accepts accountability, handles change, sets personal standards, stays focused under pressure, and meets attendance/punctuality requirements.
  • Integrity/Ethics: Deals with others in a straightforward and honest manner, is accountable for actions, maintains confidentiality, supports company values, conveys good news and bad.
  • Teamwork: Meets all team deadlines and responsibilities, listens to others and values opinions, helps team leader to meet goals, welcomes newcomers and promotes a team atmosphere.

Position Competencies

  • Job Knowledge: Understands duties and responsibilities, has necessary job knowledge, has necessary technical skills, understands company mission/values, keeps job knowledge current, is in command of critical issues.
  • Personal Organization: Keeps information organized and accessible, maintains clean/functional work space, works systematically/efficiently, and manages time well.
  • Productivity: Manages a fair workload, prioritizes tasks, develops good work procedures, manages time well, and handles information flow.
  • Quality: Is attentive to detail and accuracy, is committed to excellence, looks for improvements continuously, monitors quality levels, finds root cause of quality problems, owns/acts on quality problems.

Education/Experience

  • Bachelor’s Degree or equivalent; minimum of 2-3 years in comprehensive commercial lending experience including strong financial analysis skills.
  • Proven track record generating and closing deals, building relationships, diagnosing clients’ needs, and executing strategies.
  • Excellent written and verbal presentation skills.
  • Firsthand knowledge of SBA’s Community Advantage 7(a) and 504 loan programs as well as economic development revolving loan funds would be ideal.

Working Conditions

General business hours are 8:00 a.m. to 5:00 p.m. Monday through Friday, though exempt positions will typically require work to be performed outside general business hours. Work is generally performed in an indoor, professional office environment. During the pandemic, EMDC has approved flexible work schedules blending in office hours and home office hours with supervision approval.

While performing the duties of this job, the employee is regularly required to sit and talk or listen, and regularly required to use a keyboard for typing. The employee is often required to stand and walk. The employee must occasionally lift and/or move up to 20 pounds. Specific vision abilities required by this job include close vision and ability to adjust focus. The employee must travel to different locations and must be able to provide own transportation.

The physical demands described here are representative of those that must be met by an employee to successfully perform the essential functions of this job. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.

Disclaimer: Nothing in this job description restricts management’s right to assign or reassign duties and responsibilities to this job at any time.

 

 

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