• Provide basic technical assistance and information to the public, potential loan program applicants and others with a need for information and assistance regarding the general guidelines, requirements, regulations and procedures governing BBL loan products for which the loan officer has or may have responsibility.
• Intake Loan Applications into the LendingFront portal and review completed
applications to determine basic program eligibility within the current regulations and guidelines for all programs administered by BBL.
• Underwrite each loan based on normal guidelines for small business loans and the additional loan overlays and guidelines provided by BBL. Present each loan application to the Director of BBL for review of the decision provided by the loan officer based on the underwriting guidelines and financing capacity of BBL.
• Review and analyze applications which are found to be program eligible for financial feasibility consistent with BBL underwriting standards and approved loan policies and procedures, which shall include, but is not limited to the following tests:
1. Full Business Plan, including a Marketing Plan,
2. Accuracy and completeness of required documents,
3. Development costs,
4. Availability of proposed funding including other funding sources,
5. Accuracy, rationality and completeness of projected operating expenses and debt service,
6. Eligibility for the program including market feasibility, ability to handle proposed rents and carrying costs.
7. Site visits,
8. Personal and phone interviews, -
9. Review of public records, etc. as needed,
10. Review of neighborhood condition,
11. Any other information relevant to loan feasibility analysis.
• Develop, maintain and continuously update his/her knowledge of directly applicable laws, regulations, guidelines and procedures affecting BBL products or programs for which the loan officer has responsibility. This includes knowledge of basic eligibility, financial, market and physical feasibility requirements and all other factors affecting approval or disapproval of loan applications.
• Negotiate terms of a loan within loan policy and in consultation with Director of BBL or President/CEO of BCL. All proposed variances from approved lending policies must be approved in writing by the President/CEO.
• Review “BBL” Loan Packages prior to submission for completeness content and project support documentation
• Interact with legal counsel regarding loan documentation and any legal issues regarding a particular loan.
• Meet with private, public or other lenders regarding any potential transactions and finding programs available to assist with “BBL” projects.
• Make site visits for existing and potential transactions to observe current environment for consistency and reasonableness of the project and existing neighborhood conditions.
• With regard to each application in the workload, the Officer is expected to keep their supervisor informed of significant progress or problems as they arise, and seek assistance to resolve problems as appropriate.
• Disseminate information through a series of regularly required reports.
• Assist the Finance Department/Portfolio team in performing annual loan reviews.
• Demonstrate a proficiency in effectively communicating technical concepts, writing letters, memoranda, loan summaries, position papers.
• Supervise maintenance of official files, organized in the standard BCL prescribed manner, properly secured and available in the prescribed location.
• Work as a team member, ever conscious of deadline needs, work flow and assignment schedules.