Lower East Side People’s Federal Credit Union
Job Description: Business and Commercial Lending Officer
Reports to: Commercial Lending Manager/Chief Lending Officer
Requirements: B.A. degree and at least two-year experience; (Prefer-Bilingual Spanish/English)
Employment Status: Exempt
Job components
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Business and Commercial Loan Origination, Underwriting and Closing: assist LESPFCU Borrowers in the application process.
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Describe the range of credit union loan products to new credit union members.
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Explain all the loan products available to our members, for Example the deference between and SBA Loan and a Credit union loan.
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Provide technical assistance to prospective borrowers to help them prepare loan applications and fill out supporting documents.
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Take in loan applications and required supporting documents.
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After selecting the loan product, the forms that need to be completed for the program are selected.
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Perform due diligence in underwriting consistent with credit union loan policy.
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Make sure the underwriting is consistent with the business loan product selected.
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Present completed loan applications to Commercial Lending Manager and or CLO
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Review loan application with the Commercial Lending Manager, Chief Lending Officer and/or Credit Committee
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Communicate loan decision to the member.
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Communicate loan decision in writing immediately after loan is reviewed.
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Close Business/Commercial loan
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Technical Assistance/loan review for existing members: regularly communicate with borrowers, collect and review financial statements, and visit the businesses after the closing and at least annually thereafter.
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Objectives/business outcomes
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More frequent and regular visits to existing borrowers to see how business is doing, identify problems before loan is endangered and how can we help.
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Collect and review financial statements from businesses as needed.
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Measures of progress/success
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Create a tracking system to ensure regular visits, compare them to prior visits to demonstrate progress.
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Earlier identification and intervention with problem loans
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Improved member relationships/better serve members through more regular contact and assistance provided (qualitative measure)
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Maintain accurate loan file.
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Perform annual loan review.
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Delinquency reduction, expansion of number of loans (quantitative measure) as compared to base period
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As needed Attend business workshops.
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In collaboration with the outreach team, follow up on potential borrowers.
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Other duties as assigned by management for the smooth and efficient operation of the CU.