Underwriting

Company: Carolina Small Business Development Fund

Locations: Hybrid;
Raleigh, NC

Posted on: June 4, 2026

Carolina Small Business Development Fund (CSBDF) is a 501(c)3 nonprofit guided by the belief that when small businesses succeed, everyone benefits. When we first opened our doors in 1990 as the North Carolina Minority Support Center, we were providing technical assistance to financial institutions and entrepreneurs, and in our first 20 years of service to our state, we administered millions of dollars in grants to help address the needs of unserved and underserved people and communities.

When the financial crisis of 2008 threatened Main Street firms across our state and nation, our leadership knew that we were in the position to not only double down on our work serving underserved communities, but to expand our services as well. We ushered in a new era for our work in 2011, when we made our first loan to a North Carolina small business, and eventually became a certified Community Development Financial Institution (CDFI) in 2013.

In the wake of the COVID-19 pandemic’s economic aftershocks, we doubled down once again and expanded our services to ensure that our state’s small businesses could succeed, and the communities they serve would benefit.

Since opening in 1990, we have met entrepreneurs at the crossroads of hardship and opportunity—and we will continue to light the way forward for whatever comes next.

The Underwriting Director manages underwriting staff, key credit department functions including loan underwriting, analysis and approvals; and loan servicing and processing. The Director underwrites loan applications and manages the overall credit operations in accordance with Carolina Small Business Development Fund (CSBDF) policies and procedures to ensure and maintain good quality credit. The position is responsible for managing the underwriting of eligible loans under the various loan guaranty programs including the SBA Community Advantage Pilot Program, Charlotte Community Capital Program, USDA Business and Industry Program, and US DOT Short Term Lending Program.

This position is housed within the Credit Department but supports the work of both the Credit and Business Solutions Teams within the organization.

The following duties are not intended to serve as a comprehensive list of all duties performed by all employees in this classification.

Credit Analysis & Underwriting

• Provide independent, in-depth analysis of financial statements, projections, business plans, and collateral to identify risks, mitigants, and appropriate loan structures.
• Prepare credit memoranda and present recommendations in line with CSBDF approval authorities and program guidelines.
• Serve as SME for various loan capital and guaranty programs available to CSBDF (e.g., SBA 7(a), SSBCI capital program) to ensure compliant underwriting and eligibility across programs.
• Maintain current and up-to-date knowledge of lending policies, program rules, regulatory guidance, industry trends, and best practices.
• Manage issuance of loan commitment letters.

Workflow, Quality, and Portfolio Risk

• Collaborate with CSBDF Directors (i.e., Business Solutions Director; Loan Operations Director; Loan Portfolio Director) to coordinate application intake, pipeline assignment, and workload balancing to meet expected procedural and cycle-time targets.
• Identify and implement process improvements (including automation opportunities) to streamline underwriting activities and reduce cycle times.
• Ensure direct reports adhere to established policies, procedures, and documentation standards while encouraging continuous improvement.
• Track and report production, approval rates, exceptions, and cycle-time target adherence; recommend actions based on trends.
• Collaborate with Loan Portfolio Director to monitor portfolio performance (e.g., delinquencies, charge-offs, concentrations); recommend risk mitigation strategies and structural credit facility enhancements.
• Support periodic audits, file reviews, and compliance reviews; contribute to policy updates and controls.
• Ensure accurate and timely reporting and other required submissions…