Company Description:
MGCC is a quasi-public corporation of the Commonwealth that saves and creates jobs at small businesses by providing financial services and managerial assistance. MGCC also promotes economic development throughout the state, focusing on Gateway Cities and low to moderate income communities.
Basic Function:
MGCC is currently seeking a full-time Commercial Loan Officer to join the team at our Charlestown, MA office.
Originates small business loans and manages all phases of lending function through loan closing and subsequent portfolio management, review and reporting.
Illustration of Duties:
- Through contacts, referrals, outreach, and by assignment, the Loan Officer identifies companies in need of financing that may fit MGCC eligibility criteria.
- Has primary responsibility for underwriting and credit analysis, with assistance and guidance by Credit Officers and the Chief Credit Officer.
- Negotiates terms and conditions with borrower; negotiates inter-creditor agreement with other lenders in the financing.
- Drafts and prepares loan proposal and makes presentation to Credit Committee.
- Oversees preparation of commitment letter, legal documentation and loan closing.
- Monitors borrower’s progress.
- Provides loan review and reports as required.
- Makes presentations to banks, trade groups, other governmental agencies outlining MGCC products and processes.
Qualifications:
- Ability to recognize business operational and management issues and to discuss in a helpful manner with company management.
- Familiarity with financial statements, projections, ratio analysis and CPA prepared reports.
- Ability to identify appropriate loan structures for differing lending situations.
- Experience with subordinated lending, typical senior lender requirements and inter-creditor documentation.
- Capacity to formulate and draft loan proposals, and make presentations to a Credit Committee of the Board of Directors.
- Working knowledge of typical closing documentation and procedures.
- Ability to make presentations regarding MGCC to potential loan sources including banks, trade groups, community development corporations, other state and federal agencies and individual small businesses.
- Demonstrated capacity to work independently as well as function as part of a team.
- Possesses a working knowledge of other sources of small business loans including the SBA, other non-bank lenders and micro-loan intermediaries.
- Must have a minimum of 5 years of direct, small business lending experience.
- Experience with cash flow lending will be an advantage.
- Must be prepared to travel statewide as required.
Benefits:
MGCC offers a competitive salary and benefits package, including: health/dental/life insurance, employer-paid vision insurance, employer-contribution retirement plan, paid vacation and a student loan paydown plan.
MGCC is an Equal Opportunity and Affirmative Action Employer. MGCC enthusiastically urges women, minorities and people from a wide variety of backgrounds and experiences to apply.
To apply, please send your resume and cover letter to jobs@massgcc.com.