Vice President & Loan Officer

NOW HIRING A Full time Vice President / Loan Officer Position

The Vice President / Loan Officer will divide his/her attention between outreach activities to identify new loan opportunities, building and retaining relationships (businesses and lenders), and facilitating the Biz Starts Racine entrepreneurial training program.

RCEDC administers multiple revolving loan fund (RLF) programs that are available to Racine County businesses. RCEDC is also a certified development company able to provide SBA 504 loans throughout Wisconsin. In 2024 RCEDC launched an entrepreneurial training program called Biz Starts Racine. This program follows an accredited training program that includes three phases (class instruction, one-on-one mentoring, and partnership with Carthage College students).

• RLF & SBA LOAN STRUCTURING and CREDIT ANALYSIS 50%
• The Loan Officer positions perform two primary roles.
  a. When leading a transaction as the Loan Officer, the initial structuring and document collection are completed by the Loan Officer. The other RCEDC Loan Officer will perform the credit analysis work to share the workload as well as provide internal 50% control protection for both parties.
  b. When supporting a transaction for another Loan Officer, the role will be to perform credit analysis for the other Loan Officer (separation of duties).
• Engage with the prospective borrower and manage the loan structuring, credit analysis, and approval processes.
• Work with lending team to process business loans following established policies and procedures for loan selection, underwriting, approval, and closing.
• Prepare and deliver presentations to the Loan Committees (loan approval authority of $150,000 RLF and $750,000 SBA), Board of Directors (if more than loan approval authority), and/or SBA.
• Upon loan approval, introduce the borrower to the RCEDC Loan Closing Specialist to start the closing process.
• Prior to the final step of selling the SBA debenture, work with the Loan Closing Specialist to perform the No-Adverse-Change analyses as required.
• OUTREACH 25%
• Promotes all services of RCEDC, with particular emphasis on the lending, grant, and Biz Starts Racine resources.
• For the SBA 504 loan program, outreach is primarily directed toward commercial lenders. One RCEDC Loan Officer focuses their attention on counties south of Sheboygan and one Loan Officer focuses on counties north of Sheboygan.
• For the RLF loan programs, outreach may be directly to businesses or Racine County commercial lenders.
• Seek opportunities for one-on-one meetings as well as group presentations to local commercial lenders.
• Working with RCEDC’s marketing and economic development team, proactively market the annual Biz Starts Racine program to future and existing entrepreneurs.
• Track all prospect activities in the required CRM (Salesforce or Ventures).
• BIZSTARTS RACINE 20%
• The importance of establishing and supporting small businesses in Racine County is an RCEDC priority.
• Work in partnership with the RCEDC Marketing & Events Coordinator on the logistics of the program (dates, facilitators, successful business owner presentations, email communications, etc.)
• To ensure progress is being made by each entrepreneur, have regular email and/or phone contact with each Biz Starts entrepreneur.
• Work with mentors and Carthage College instructor to ensure entrepreneurs are meeting regularly and making progress.
• ADDITIONAL DUTIES 5%
• Act as a resource, as needed, to enable the Loan Closer to effectively complete the closing process.
• Provide guidance to determine if Loan Committee review is required for pre-closing or post-closing issues.
• Participates in other project assignments as directed by the Executive Director.

RCEDC is an AA/EEO employer:
All applicants will receive consideration for employment without regard to race, color, national origin, religion, sex, sexual orientation, gender identity/expression, disability, or protected veteran status. Individuals from diverse backgrounds are encouraged to apply.

Racine County Economic Development Corporation (RCEDC) and our partners provide Racine County businesses with services needed to complete an expansion, relocation, financing, or talent recruitment project. Our dedicated staff is committed to meeting the needs of Racine County businesses and companies interested in expanding or locating in the Chicago-Milwaukee Corridor.