Credit and Collections Specialist

About The Role

Hi, I'm Cato, Founder at Loop, and I'm hiring a Credit and Collections Specialist to own both ends of our credit lifecycle: the decision to lend, and the recovery when a loan goes wrong.

This role is an onsite position at our downtown Toronto office (Bay and Bloor).

Most companies split underwriting and collections across two teams that never talk to each other. We don't. In this role you'll spend roughly half your time deciding who gets credit and on what terms, and the other half working directly with customers whose accounts have gone past due.

That combination is the point. You will see the downstream consequence of credit decisions, and you'll be expected to feed what you learn in collections back into how we underwrite. Nobody at Loop is better positioned to close that loop than the person doing both jobs.

You’ll be speaking with business owners every day — sometimes to structure a facility that helps them grow, sometimes to have a hard conversation about a balance they haven't paid. Success comes from balancing empathy with accountability, moving quickly without sacrificing judgment, and always looking for the practical path to a resolution.

You’ll also help build the function. Our credit book is growing faster than our processes, and we're looking for someone who wants to fix that — not just work the queue.

Credit (~50%)

• Underwrite business credit applications for Loop's credit card and capital products — assess creditworthiness, recommend limits, and decide within policy or elevate when a case warrants it.
• Analyze financial statements, bank account and open banking data, credit bureau reports, and payment history to build a clear picture of each business.
• Conduct due diligence on applicants and related parties, and request additional documentation where the file is incomplete.
• Manage security agreements and register liens and security interests with perfect accuracy, coordinating with customers, lenders, and vendor partners.
• Monitor the existing portfolio — reassess exposure, resize lines, and action remediation when a customer's position changes.
• Document every decision and its rationale clearly enough that someone else can audit it a year from now.

Collections (~50%)

• Own a portfolio of past-due accounts end to end, from first outreach through resolution.
• Contact customers by phone and email to collect outstanding balances and negotiate repayment arrangements that hold, while keeping the relationship intact where possible.
• Draft formal correspondence including payment reminders, document requests, and demand letters.
• Manage legal recovery matters — small claims, settlement conferences, bankruptcy and insolvency filings, process serving, and enforcement — working with internal teams, external counsel, and collection agencies.
• Maintain accurate records of every interaction and commitment in Salesforce, and report delinquency status to leadership on a regular cadence.
• Apply tact, diplomacy, and resourcefulness to handle objections and control genuinely difficult conversations.

Across both

• Identify the patterns behind delinquency and translate them into concrete changes to our underwriting criteria, monitoring triggers, and collections playbook.
• Build the scalable version of this function: better process, better tooling, more automation of the straightforward cases so human judgment goes where it's actually needed.

• Look for leverage first. You reach for a system, a template, or a script before you reach for more resources.
• Are direct, and can take direct. We say what we mean to each other's faces. No hallway gossip, no silent disagreement, no letting a colleague fail out of politeness.
• Finish the whole job. A file isn't closed until the documentation is written, the record is updated, and the next person is briefed.
• Run at hard problems. You don't complain; you troubleshoot. A collections file nobody wants to touch is an opportunity, not a burden.
• Don't need to be managed. You'll be given real ownership early and you'll be expected to use it.

If you want a job description that holds still, or you'd rather be liked than told the truth, this…