Job Title: Business Development Lending Officer
Classification: Exempt (Salary)
Status: Full-Time
Salary Range: $70K - $80K
Location: Providence, RI – Hybrid and Flexible Schedule
Schedule: Monday – Friday from 9 AM-5 PM
Reports to: Commercial Services Manager
How to Apply: Email a resume and cover letter to careers@mccinvest.org
About Us:
Mill Cities Community Investments (MCCI) brings financial resources and technical assistance to businesses in Massachusetts and surrounding states. MCCI is a U.S. Treasury-certified Community Development Financial Institution (CDFI) and a Massachusetts-certified Community Development Corporation (CDC). CDFIs are private-sector financial organizations with community development as their main goal. CDFIs are different from conventional financial institutions because they have in-depth knowledge of their communities. And they work closely with their customers and community leaders. MCCI often teams up with traditional banks to develop innovative ways to deliver loans, investments, and financial services. This includes jointly funding community projects.
Summary of Position:
The Business Development Lending Officer position reports to the Commercial Services Manager. Primary responsibilities for this position include networking within the small business ecosystem of Rhode Island, conducting diligence on pipeline opportunities, and providing access to capital. In addition, facilitate connections with existing local technical assistance resources and other service partners, helping to ensure Business success. The position will have a particular focus on supporting
and lending to business owners of color in Providence and other concentrated urban areas within Rhode Island. The business development lending officer will support MCCI’s overall commercial lending activities to meet MCCI’s organizational strategic goals and fulfill our mission.
Essential Functions, Duties, and Responsibilities:
Relationship Management
● Cultivate and foster relationships with other key stakeholders that provide resources and services to the Rhode Island small business community Assist small businesses to apply for loan and grant capital requests and other technical assistance programs to advance their business
● Attend relevant local events and activities to represent the organization and build strong relationships with key stakeholders, community partners, and small business owners.
Business Development
● Identify and promote small business resources available to small business owners, particularly of color in our focus areas in Rhode Island.
● Work closely with new and existing small businesses to understand their financial needs and support their access to business planning, operational, legal, and financial services
● Provide and facilitate post-loan support as appropriate
Underwriting
● Analyze loan applications using MCCI’s credit underwriting guidelines
● Review applicants’ business plans, financial statements, and credit reports. Assess fit with MCCI’s financial products and character-based lending ethos.
● Gather necessary loan application documentation and ensure complete loan packages are electronically available per MCCI guidelines
● Prepare and present proposals to loan committees for approvals
● Develop and maintain knowledge of sector-specific benchmarks and trends to inform the review of loan proposal
Required Skills & Experience
● At least 3-5 years of relevant professional experience
● 4-year degree in a related field, such as business & finance, community & economic development, public administration, urban planning or similar
● Ability to analyze business financial statements
● Excellent interpersonal skills
● Proficient level computer skills including spreadsheets and other Microsoft programs
● Proficient with lending systems, e.g., Lenderfit, Encompass, DownHome
● Effective organizational skills
● Strong stress and time management skills
● Strong analytical and problem-solving skills
● Ability to communicate effectively and adapt to diverse work styles
● Must be self-directed and able to learn business and new products quickly
● Fluency in English
● Attention to detail and high level of accuracy in preparing and entering information
Highly desirable
● Experience in small business lending, business outreach, community development, CDFI, small business operations, or other relevant fields.
● Fluency in Spanish and/or Portuguese
Supervisory Responsibility
This position has no supervisory responsibilities.
Work Environment
This job operates in an office and professional environment. This role routinely uses standard office equipment such as computers, phones, and photocopiers. On occasion, the job will require going out to events or organizations based on the needs of the business.
Physical Demands
This is mostly sedentary outside of travel in an office space. This would require the ability to sit at a desk, frequent walking, bend, or stand, as necessary.
Travel
Designated days and schedule will be primarily Monday-Friday. However, it will also be based on the needs of the operation and business and may require weekends, nights, and early mornings.
Other Duties
Please note this job description is not designed to cover or contain a comprehensive listing of activities, duties, or responsibilities that are required of the employee for this job. Duties, responsibilities, and activities may change at any time, with or without notice.
MCCI is an Equal Employment Opportunity Employer. (MCCI) provides equal employment opportunities to all employees and applicants for employment and prohibits discrimination and harassment of any type without regard to race, color, religion, age, sex, national origin, disability status, genetics, protected veteran status, sexual orientation, gender identity or expression, or any other characteristic protected by federal, state or local laws.
How to Apply: Email a resume and cover letter to careers@mccinvest.org