IFF is a mission-driven lender, real estate consultant, and developer that helps communities thrive by creating opportunities for low-income communities and people with disabilities. Key to our success has been a deep sense of purpose, a broad perspective, and a relentless focus on achieving positive results. Social return can coincide with financial return.
Across the Midwest, we help clients from every sector, including human service agencies, health centers, schools, housing developers, and grocery stores. Our staff of nearly 90 professionals works from our Chicago headquarters, and we also serve the Midwest from six regional offices: Indianapolis, Indiana; Detroit, Michigan; Minneapolis, Minnesota; St. Louis, Missouri; Columbus, Ohio; and Milwaukee, Wisconsin. We are a U.S. Department of the Treasury-certified community development financial institution (CDFI), a member of the Federal Home Loan Bank of Chicago and the Opportunity Finance Network, and a past recipient of the $5.5 million Wells Fargo NEXT award for Opportunity Finance.
IFF is the largest nonprofit CDFI in the Midwest and one of only a few nationally to earn the CARS AAA+1 rating. Since 1988, we have made over $620 million in loans, leveraged $1.7 billion in community investments, and grown our total managed assets to $498 million.
IFF improves the world by strengthening nonprofits and the communities they serve. As a mission-driven lender, real estate consultant, and developer, IFF helps communities thrive by creating opportunities for low-income communities and persons with disabilities. Key to our success has been a deep sense of purpose, a broad perspective, and a relentless focus on achieving positive results. Across the Midwest, we help clients from every sector, including human service agencies, health centers, schools, affordable housing developers, and grocery stores.
Staff contributes its extensive business experience with an unrivaled connection to the mission of IFF and the nonprofit clients it serves. IFF is looking for candidates with a commitment to the work it does and can demonstrate their creativity, detail-orientation, diligence, efficiency, enthusiasm, flexibility, organization, thoughtfulness, and sense of humor.
Basic Job Function
Responsible for loan production in Michigan and Northern Ohio including business development, networking, relationship management, loan approval and closing. Identify new business and relationship opportunities. Work with colleagues to implement sales and networking activities. Analyze and evaluate loan applications and make appropriate recommendations regarding loan approval. Participate in overall portfolio monitoring.
Job Duties and Responsibilities:
- Primary borrower relationship manager for assigned region’s lending activities. Responsible for sourcing, underwriting, seeking approval, and facilitating the closing and monitoring of loans, including those requiring complex structuring. (60%)
- Responsible for guiding prospective borrowers through the loan application, approval and closing process.
- Screen projects for alignment with IFF and department goals. Evaluate loan requests, including the agency's financial condition and projections, site analysis and building plans, operating plans, potential risks and other relevant data to support a recommendation of whether or not to make a loan. Follow up as necessary with agency and others to obtain additional information.
- Coordinate as necessary with the Managing Director of Lending and Portfolio Management, underwrite, structure, package and present loan recommendations for approval to loan committees. Document terms and conditions and issues commitment letter.
- Provide technical assistance on financing and financial systems to improve capacity of applicants and borrowers.
- Support IFF’s Customer Relationship Management database with data input to ensure accurate and comprehensive information on all aspects of loan program are readily available, from initial contact through project closing and long-term monitoring. Contribute quantitative and narrative materials for fund raising applications and required reporting.
- Establish closing requirements and work with IFF Closing and Portfolio Management team, borrower, attorneys, and others to facilitate closing process in timely and efficient manner.
- Work with the Closing and Portfolio Management team to support post-close monitoring including customer check-ins or site visits as required. Coordinate customer relationship management with Closing and Portfolio Management and support effective relationship communications. Identify potential issues and support Closing and Portfolio Management work with borrowing agency to minimize late payments and foreclosures. As needed, works with Closing and Portfolio Management to negotiate and follow up on restructures or workouts.
- Lead loan business development efforts in Michigan and Northern Ohio to build and maintain a strong loan pipeline. Work with Corporate Communications and Public Affairs department (CCPA) to implement appropriate marketing, business development and sales activities. (25%)
- Develop and pursue business leads from existing network of customers, contact with agencies and market influencers, community leaders and funders and follows up with generated leads.
- Respond in a timely manner to inquiries from prospective borrowers, providing information regarding IFF lending programs, assessing loan readiness, and assisting as necessary to prepare loan submissions and related paperwork.
- Follow up in a timely manner with leads provided by CCPA through telephone calls or meetings.
- Conduct presentations or workshops for customers and prospective borrowers as arranged and scheduled with MBD or in coordination with other partners.
- Cross sell other IFF products and services as appropriate
- Participate with other Capital Solutions staff to research, develop, and improve lending programs, policies and procedures, marketing materials, application forms, tracking procedures, program goals, and general communications. (5%)
- Provide guidance and mentorship to junior Capital Solutions staff. (5%)
- Maintain required job knowledge, skills and core professional competencies. Attend and participate in required educational programs and staff meetings. (2.5%)
- Perform other duties as assigned. (2.5%)
- Achievement of lending and program goals. Long term quality of closed loans.
- High level of customer satisfaction with IFF products and services.
- Complete, accurate, and thoughtful analysis and communication of lending risks and mitigants for loan applications.
- Achievement of portfolio outreach and monitoring goals and increasing the profile and visibility of IFF across the region.
- Solutions to identified issues and challenges relating to loan program implementation.
Education: BA required, preferably in business, accounting or finance.
Previous Experience: Minimum of seven years experience in banking, finance, or real estate finance required. Demonstrated competence in commercial lending terminology and credit and financial statement analysis. Experience with marketing loan products.
Special Knowledge & Skills: Familiarity with the nonprofit sector strongly preferred; familiarity with construction and lending practices and terminology; strong interpersonal skills; comfortable in presentation and workshop situations; proficient computer software user, including spreadsheets (Excel) and databases.
Unusual Requirements: Some travel within the Midwest including occasional overnight travel; occasional evening and weekend work; able to inspect active construction project sites.
See How to Apply Section
How to Apply:
Application Process: Please send a cover letter, resume and salary requirements to firstname.lastname@example.org with “Senior Loan Officer – Detroit” in the subject line.
IFF is an equal opportunity employer.