Loan Officer

Job Description

Job Description

Position Title: Loan Officer

Supervisor: Director of Lending

Department: Lending

FLSA Status: Full time, exempt

Salary Range: $65,000-$73,000

Location: Hybrid

candidates must be based in the Minneapolis/St. Paul area

Organizational Summary

WomenVenture is a 501(c)(3) nonprofit organization with a mission to empower women to achieve their economic goals by building profitable and sustainable businesses that transform communities. We execute on this mission through providing clients access to business capital, coaching, and community. Our core values are to make meaningful change, to engage with empathy, and to persist boldly, and we seek out candidates who exemplify these characteristics.

Position Summary
The Loan Officer supports WomenVenture's mission by providing exceptional relationship-based lending services to entrepreneurs and small business owners. This position is responsible for underwriting and closing business loans while delivering high-quality client experience. The Loan Officer works collaboratively across departments to ensure clients receive the capital, technical assistance, and resources needed to build profitable and sustainable businesses. The position requires strong financial analysis skills, excellent relationship management abilities, and a commitment to equitable access to capital for underserved entrepreneurs.

Core Duties

The essential functions of this position include loan origination, underwriting, client communication, compliance documentation, and collaboration with internal and external partners to support responsible lending and client success.

Loan Underwriting – 80%

• Manage a pipeline of loan applicants from inquiry through closing while maintaining timely communication and high service standards.
• Provide guidance to prospective borrowers regarding loan readiness and financing options.
• Assess viability of businesses seeking financing through loan consultations.
  • Evaluate management experience, capacity, market relevance of the business, viability of the business proposal, and adequacy of collateral.
  • Build cash flow projections, calculate and evaluate debt service coverage of the business as well as overall global ratios.
  • Evaluate personal financial condition, using credit reports, personal financial statements, etc.
• Ascertain business technical assistance needs of loan clients and work cross-functionally to develop business consulting plans that mitigate risk and support client success.
• Prepare written credit presentation and present loans for the internal and external loan committees.
• Structure loan requests in accordance with WomenVenture lending policies and risk guidelines.
• Identify risk factors and recommend appropriate mitigants through technical assistance, collateral, guarantors, or loan structuring.
• Participate in portfolio reviews and delinquency management activities as needed.
• Maintain appropriate post-close communication with borrowers to support repayment, identify emerging needs, and connect clients with resources when needed.
• Work collaboratively with the lending team.
• Effectively serve clients across diverse perspectives, ideas, and backgrounds.
• Provide an exceptional client experience starting from the point of application to loan closing.

Administration and Other – 20%

• Organize and maintain accurate loan files, such that files are ready for audit at any time.
• Maintain compliance with all applicable rules and regulations.
• Maintain accurate and timely data entry in loan management and customer relationship management systems.
• Maintain compliance with all client experience procedures and service level agreements.
• Document meetings with and review of loan client business records.
• Document meetings with potential loan clients.
• Participate in both virtual and in person training activities as needed.
• Participate in various community events representing WomenVenture.

Other duties, tasks, and responsibilities may be assigned at any time.

Confidentiality:

This position requires having access to confidential records and information, including but not limited to client information. To perform this job strict confidentiality must be maintained.

Required Qualifications:

• 3+ years of experience with credit management, financial services, or consumer or commercial lending.
• Bachelor’s degree in business, economics, finance, or related field preferred, or equivalent experience relative to duties described.
• Previous experience working with business start-ups and expanding businesses.
• Experience presenting loan recommendations to other parties such as credit or loan committees.
• Experience with loan management software and ability to learn and adapt to proprietary industry software products.
• Intermediate to advanced skillset in database programs and Microsoft Office applications including Excel, Outlook, and data security.

Preferred Skills:

• Strong relationship management and customer service skills.
• Ability to read, analyze, and interpret general business information, professional journals, technical procedures, or governmental regulations.
• Ability to write effective reports and business correspondence.
• Excellent verbal communication and presentation skills.
• Ability to follow complex tasks through to completion with a focus on detail.
• Ability to make reasonable decisions and employ problem-solving skills.
• Ability to manage multiple priorities and deadlines in a fast-paced environment.
• Ability to work both independently and collaboratively within a team environment.
• Excellent cultural competencies and ability to collaborate across diverse perspectives, ideas, and people with diverse backgrounds.
• Demonstrated commitment to diversity, equity, inclusion, and economic opportunity.
• High level of commitment to issues of gender equality and the social mission of the agency.

Application Procedure

Interested candidates should submit their applications using the link provided and will be contacted via email for next steps.

Benefits

WomenVenture takes great pride in providing exceptional benefits to our staff. Employees are eligible for 18 paid holidays and 18 PTO days starting their first year. WomenVenture offers medical, dental, vision, short term disability, long term disability, and life insurance. WomenVenture offers a paid paternity leave, health savings account, flexible spending account, pre-tax transportation, and an employee assistance program. Employees can also participate in a retirement plan with an employer match.

Work Environment/Physical Demands

While performing the duties of this position, the employee is frequently required to sit for extended periods and may be required to stand for an extended period. The employee may occasionally move items weighing up to 25 pounds. Reasonable accommodation will be made to enable individuals with disabilities to perform the essential functions of the position.

This position description is intended to describe the general nature and level of work being performed by people assigned to this position. It is not intended to be an entire list of all activities, tasks, and skills required of people in the position.

WomenVenture is an equal opportunity employer. All qualified applicants will receive consideration for employment without regard to race, color, religion, sex, sexual orientation, gender identity, national origin, disability status, protected veteran status, or any other characteristic protected by law.