Economic Development Senior Lending Underwriter
The Economic Development Company of Lancaster (EDC) is a leading not for profit economic development organization in the Commonwealth of Pennsylvania. EDC is seeking an individual with strong project management capabilities and significant commercial credit / underwriting experience to support our growth in economic development lending for Lancaster County.
Job purpose – The Economic Development Senior Lending Underwriter is responsible for accurately reviewing and assembling loan project files submitted by the internal project management team and/or Regional SBA 504 Partner. This position will also manage the collection of loan project applications, underwriting and presenting loan project requests, and other applicable documents. The position will be part of the Operations team who skillfully provide support to all levels of the organization in a variety of functions. Emphasis is placed on customer focus both internal and external to support the organization’s mission.
Duties and responsibilities –
- Attend relevant project meetings with internal project management team and/or Regional SBA 504 Partner;
- Complete detailed analysis of financing requests for credit worthiness, rule applicability, and eligibility;
- Work closely with the Director, Project Management to verify underwriting criteria matches policy requirement;
- Work closely within the internal project management team to capture key project information and ensure broad knowledge about each project or lead;
- Track visits, leads, and projects in CRM
- Update team at staff meetings on recent project activity and follow-up items
- Gather loan file material from the internal project management team and/or Regional SBA 504 Partner;
- Review loan files for completeness and accuracy and work with the internal project management team and/or Regional SBA 504 Partner to request additional information;
- Underwrite loan requests by assembling the loan write-up information in the loan management software;
- Periodically present project reviews and credit memos for board approval;
- Submit appraisals & environmental requirements for loan submissions, working with both borrower and banking partners;
- Prepare loan files for final submission to Small Business Administration (SBA), Pennsylvania Industrial Development Authority (PIDA), Commonwealth Financing Authority (CFA), etc.;
- Upon project approval, enter relevant approval information into the loan management software;
- Complete a final review of loan project costs upon construction completion;
- Complete no adverse change write-ups prior to SBA 504 loan closing;
- Complete other duties as assigned to achieve organization goals.
Skills and qualifications – This position requires the following skills and qualifications:
- At least 2-4 years commercial lending and underwriting experience
- Effective written and verbal communication
- Strong relationship building and customer service
- Ability to document key information using multiple software platforms
- Strong time management and attention to detail
- Knowledge of economic development funding tools delivered through the Pennsylvania Department of Community and Economic Development (DCED), Commonwealth Financing Authority (CFA), and Small Business Administration (SBA 504) is preferred, but not required
Direct reports – This position will be required to work effectively with internal personnel or outsourced professionals involved in the implementation of application and/or review of loan projects.
Reports to – Director, Project Management
Compensation – The position will pay a competitive market salary based upon experience combined with additional variable and deferred compensation packages.
To apply – Qualified applicants are encouraged to submit their resume and cover letter to email@example.com.