Microloan Officer - Business Ownership Initiative (BOI)
Applies the principles of lending within an assigned area of Business Ownership Initiative (BOI) a division of the Indy Chamber's Entrepreneur Services Division. The Microloan Officer directs the BOI micro lending activities, and acts as the intermediary between the BOI loan funds and the borrower. This position has the primary relationship with the client and helps the client with the entire coaching/training and loan process.
• Directs all clients interested in BOI microloans through all phases of the process, from inquiry, pre-application screening, loan application, underwriting, and loan committee write up with recommendation, loan documents preparation & closing, proper filing of security interests to secure the loans, through repayment of each loan.
• Provide one-on-one technical assistance to clients as needed.
• Perform underwriting including but not limited to review and necessary follow up of the loan application and all supporting documentation, credit scores of key principals, collateral analysis.
• Design, coordinate and recruit potential borrowers.
• Establish relationships with area banks to bridge clients to traditional sources of capital.
• Maintains loan software, keeping data entry current and providing weekly reporting of pipelines, performance and other activities.
• Establish and manage a training feedback component from the clients with the BOI business coaches.
• Initiates and communicates journal entries into various accounts for the finance department on a monthly basis, related to the BOI loan activity. Helps to resolve any accounting issues and discrepancies.
• Provides information to staff, volunteers, clients, auditors and individuals or organizations outside of BOI as appropriate.
• Uses various software applications, such as spreadsheets, relational databases, statistical packages, and graphics packages to assemble,
manipulate and/or format data and/or reports.
• Compiles information (financial and otherwise) to assist in the preparation of various reports.
• Applies a working knowledge of applicable laws and regulations; verifies documents for completeness and compliance with government and private agencies.
• Helps to maintain an up to date BOI Procedures Manual.
• Helps to make suggestions for improved BOI Loan Documents and Loan Policies.
• Prepares and submits on time all financial reports due grantors for BOI lending activities. Allocates expenses to each grantor in accordance with notice of award.
• Maintains both paper and electronic participant files and client data base information
• Good Communication Skills are mandatory
• Applicant needs to be a self-starter who can relate to a wide range of entrepreneurial clients
• Strong Financial Analysis skills including the ability to read, interpret and explain financial statements or financial data
• The ability to teach and build a projection and understand the concepts of cash sources and uses
• Must have the ability to read, analyze, and interpret general business periodicals, professional journals, technical procedures and governmental regulations
• Ability to write reports, business correspondence, and procedure manuals is also necessary
• Ability to effectively present information and respond to questions from groups of managers, clients, and the general public.
• Understanding of grant reporting requirements a plus
• Base knowledge of accounting principles and legal issues related to loan compliance
• Bachelor's degree in business or accounting preferred
• Five years related work experience.
• Proficiency in software applications, databases, spreadsheets and/or word processing.
Click APPLY NOW to submit resume to Carrie Henderson.
Category: Payday loans