Small Business Loan Underwriter

Compensation:
Renaissance offers a competitive salary with a comprehensive benefits package, recognition and opportunities for professional growth. The salary range for this position is between $55,000 and $70,000 based on the candidate’s depth of relevant experience. An annual bonus may be given based on performance.

POSITION SUMMARY:
The Small Business Loan Underwriter will primarily serve clients in the NY Metro Region of New York City, Long Island, Mid-Hudson Valley, and New Jersey.

Reporting to the Lending Director, the Small Business Loan Underwriter focuses on Renaissance’s core lending service, which is our Small Business Loan Programs.  Renaissance loan programs are tailored to the needs of small business owners and entrepreneurs for small or emerging businesses unable to obtain financing from mainstream financial institutions. Loan amounts range up to $250,000. This position requires a high level of technical expertise, sound judgement and attention to detail with the ability to analyze many different documentations to assess credit risk, create appropriate loan structure and ensure compliance with Renaissance Loan Policy and Procedures in an effort to mitigate loss, delinquency and overall risk.

RESPONSIBILITIES:

• Underwrite loans in accordance with Renaissance’s Loan Policies and Procedures.
• Manage and oversee the loan process from loan application to loan closing; ensuring the relevance of the loan documentation provided during the loan application, the soundness of the loan decision through the preparation of financial spreads and credit memorandum and the accuracy of the legal documentation at closing. 
• Evaluate application data including financial statements, bank statements, tax returns and business and personal credit reports.
• Assess credit worthiness and structure loans within established guidelines and expectations.
• Ability to complete the financial analysis, credit memorandum and site visit to determine client’s repayment ability and capacity in order to make a sound recommendation to the loan committee
• Ability to work well under pressure and on deadlines and adapt to changing situations on a daily basis.
• Function independently and as a team player that collaborates with others and maintains a positive and proactive attitude.
• Ability to use creative thinking to find solutions to problems.
• Participate in outreach and marketing of Renaissance products and services at different events.
• High level of integrity and trust.  Maintains the highest level of confidentiality with all information obtained.
• Willingness to do more than basic job requirements as assigned.

• Solid credit fundamentals.  Formal credit training a plus.
• 1 to 3 + years of working experience in small business underwriting.
• Bachelor's degree with a concentration in finance or accounting preferred.
• Strong analytical, verbal, written, and interpersonal communication skills, with the ability to present information to a diverse customer base.
• Precise attention to details, excellent organizational, interpersonal and time management skills.
• Flexibility and adaptability in a fluid and rapidly changing environment.
• Hands on experience interacting with low-income individuals and diverse communities.
• Bilingual skills in English/Chinese, English/Korean or English/Spanish is highly desirable.
• Commitment to the confidentiality of sensitive materials and information.
• Ability to quickly gain knowledge of local businesses and resources.
• Hands-on experience working with small business owners is a plus.
• Proven ability to multitask, work under pressure, and meet deadlines.
• Proficiency in Salesforce, Google applications, and Microsoft Office Suite (specifically MS Word and Excel).
• Location Requirement: This is a hybrid remote position with an initial 3 months of on-site training. Candidate must be willing to travel between NJ, NYC, LI, and Mid-Hudson.
• Proficient in MS Office (including PowerPoint, Word, and Excel) and Google Suite.

EXPECTATIONS & HOW WE WORK:
We believe that the people and the communities that we have the privilege to serve deserve our very best every day.  We are a results-driven organization that focuses on inclusiveness, empowerment and impact. AAFE employees are accountable, collaborative and strong communicators with a core strength of community service and development.  We are strategic thinkers who are committed to racial equality and treating each other, and the communities we serve, with respect and dignity.  We have an aptitude for technology and a strong desire to continuously learn. This philosophy expands to the way we manage our work and the way we put our best foot forward.  All employees are expected to adhere to the following: 

• Ensure compliance with all grant/contract requirements
• Work as part of a team 
• Provide high quality customer service to both internal and external partners and co-workers.
• Support efforts that ensure a safe and healthy work environment.
• Understand and embrace the value in collaborating with people of different cultures, races, genders, ethnicities, beliefs, experiences and ideas.
• An understanding of the concepts of institutional and structural racism and bias and their impact on underserved and underrepresented communities.
• Maintain a positive, helpful attitude.
• Enjoy your time at work!

WHO WE ARE:
Renaissance Economic Development Corporation (REDC) is a 501(c)(3) nonprofit organization whose mission is to build-up low-to-moderate income and immigrant communities in New York City metro area by providing low-interest small business loans along with training and counseling services. REDC is an affiliate of Asian Americans for Equality, one of the country’s leading community development nonprofits. As an organization deeply rooted in the communities it serves, REDC works hand-in-hand with local business owners to ensure their long-term success. Renaissance also provides financial literacy services and comprehensive technical assistance to small business owners and entrepreneurs each year through individual counseling and workshops.

We are US Treasury certified Community Development Financial Institution (CDFI), Small Business Administration (SBA) Intermediary Microlender, and SBA Community Advantage (7a) lender. Renaissance’s lending activities are guided by a commitment to increase business opportunities for low-income, minority, women, and immigrant entrepreneurs.