Business Development Specialist

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  1. Business Loan Origination, Underwriting and Closing: assist LESPFCU Business Borrowers in the application process.
    1. Describe the range of credit union loan products to new credit union members.
      • Explain all the loan products available to our members, for Example the difference between and SBA Loan and a Credit union loan.
    2. – assist prospective borrowers to complete loan business loan application and help them complete supporting documents.
    3. Take in loan applications and required supporting documents.
      • After selecting the loan product, the forms that need to be completed for the program selected
    4. Perform due diligence in underwriting consistent with credit union loan policy
      • Make sure the underwriting is consistent with the business loan product selected
    5. Present completed loan applications to Commercial Lending Manager
      1. Review loan application with the Commercial Lending Manager, Chief Lending Officer and/or Credit Committee
      2. Communicate loan decision to the member
        • Communicate loan decision in writing immediately after loan is review
      3. Close business loan
  2. Loan review for new and existing business members: regularly communicate with borrowers, secure and review financial statements, and visit the small businesses after the closing.
    1. Objectives/business outcomes
      • More frequent and regular visits to existing small business clients to see how business is doing, identify problems before loan is endangered and how can help
      • Secure and review financial statements from businesses on regular basis
    2. Measures of progress/success
      • Create tracking system to ensure regular visits, compare to prior frequency of visits to demonstrate progress
      • Earlier identification and intervention with problem loans
  3. Analysis: quantify impact of LESPFCU lending and share findings with Commercial Lending Manager and Outreach Department.
    1. Objectives/business outcomes
      • Determine economic impact of lending by quantifying measures such as new hires and capital improvements
    2. Measures of progress/success
      1. Improve small businesses understanding of LESPFCU loan qualification requirements
  4. Portfolio Management
    1. Maintain accurate loan file
    2. Perform annual review
    3.  Delinquency reduction, expansion of number of loans (quantitative measure) as compared to base period