Small Business Loan Officer

Job Type
Common Capital, Inc. (a Way Finders subsidiary)

1780 Main Street
Springfield, MA
United States

Job Description

Small Business Loan Officer
Common Capital, Inc.

At Way Finders and Common Capital, we are passionately invested in lifting up the region’s people, places, and systems. Though our team performs a wide variety of functions, we are united by our shared mission: to build and advocate for a thriving and equitable region; to improve the stability and economic mobility of families and individuals; and to develop and manage a robust range of safe, affordable housing options.

Every day, our team helps people facing real challenges—with housing, jobs, personal finances, and other cornerstones of daily stability—to find real solutions. And we help communities and systems to grow in positive, strategic ways. We know that the right help at the right time can make all the difference; Way Finders provides transformative help to tens of thousands of people each year. Always with respect, always with compassion.

Interested in joining our team of dedicated professionals? Common Capital, Inc. (a Way Finders subsidiary) is currently seeking a full-time Small Business Loan OfficerThe Small Business Loan Officer underwrites new loans to small businesses, prepares loan renewals and modifications, manages borrower relationships, collects past due loan payments, and conducts outreach and marketing to generate new loan applications.  Primary or backup responsibilities will include a data coordination and analysis component.

The candidate may work in a hybrid-remote capacity but must live within commutable distance to the Western Massachusetts region.  In-person work and meetings throughout the area are regularly expected.


Responsibilities include:

  • Respond to loan inquiries, review loan requests, and conduct interviews with potentially qualified applicants
  • Underwrite small business loans by interviewing loan applicants, conducting due diligence, preparing  financial spreadsheets and analyzing financial data, preparing written analyses of business loan applicants and borrowers, and performing risk assessments
  • Finalize the loan process by preparing and submitting credit memos for further review, or recording and communicating loan denials in detail
  • Provide clear communication with clients concerning the outcome of their application:  terms of loan approvals; specific reasons for loan denials; and possible avenues for future success
  • Prepare and review loan documents, and conduct loan closings
  • Provide clients with assistance as needed both during the application process and during the life of the loan, working in collaboration with business assistance personnel
  • Manage borrower relationships, including annual reviews of open loans
  • Provide support with loan portfolio management, including tracking borrowers’ submission of required reports, collecting reports, and following up with borrowers as needed to ensure compliance with financial and reporting requirements
  • Establish and maintain strong, collaborative relationships with business assistance providers, banks, and other referral sources
  • Remain current on rules, regulations, and lending guidelines of all funding sources, particularly the Small Business Administration (SBA)
  • Maintain the confidentiality of the borrower and staff information at all times
  • Primary or backup responsibilities, as assigned:
  • Collect and track outputs, outcomes, and impact data related to borrowers, applicants, and loans
  • Prepare impact data reports for internal and external stakeholders

Requirements include:

  • 7 years’ equivalent experience in a business, banking, or related role, with 3 years as a field specialist in small business/CDFI lending; a combination of experience plus a Bachelor’s degree may be a substitute
  • Ability to conduct due diligence and evaluate credit worthiness
  • Experience managing an accounts portfolio
  • Skilled in researching data and information and applying good judgment when reviewing loan applications
  • Demonstrated ability with Microsoft Office applications (especially Excel), and comfort learning new technologies
  • Ability to communicate clearly and effectively, both verbally and in written form
  • Strong in presenting data in clear, visually appealing, readable reports
  • Ability to work both independently and as a member of a team, with the capacity to communicate effectively with diverse individuals and constituents
  • Bilingual (English/Spanish) written and verbal skills preferred, but not required

Benefits include:  Generous paid time-off | 12+ holidays annually | Health, dental, and vision insurance options | Educational assistance | Medical Reimbursement Account | Dependent Care Account | 403(b) retirement plan with employer match | Life insurance | Short-term and long-term disability insurance | Transportation benefits | Employee Assistance Program | Annual staff picnic!

Wage starts between $55,903 and $74,537 per year depending on qualifications. Interested applicants must submit a cover letter and resume; applications will be accepted until the position is filled.

Way Finders is an Equal Opportunity Employer that seeks a diverse staff in order to reflect our community and those we serve. Qualified individuals from diverse backgrounds are strongly encouraged to apply. This position is available to all without regard to race, color, religion, national origin, disability, age, gender or gender identity, sexual orientation, political affiliation, or veteran status. We provide reasonable accommodation for qualified individuals. 

Application Instruction