Lending​/Loan Operations

Northern Initiatives (NI) is a non‑profit Community Development Financial Institution that provides access to capital, information and markets to advance and connect small businesses and their communities. Northern Initiatives supports entrepreneurs, businesses, manufacturing firms, banks, educational institutions, and non‑profit organizations in a common effort to strengthen the economy of Michigan.

Summary

The Commercial Lender is responsible for developing and maintaining a portfolio of new and existing relationships in the assigned territory within Michigan. The Lender acts as the borrower’s advocate by recommending suitable credit products, guiding them through the loan underwriting and approval process, securing technical assistance, where appropriate, and providing periodic financial review and feedback. Commercial Lenders should be self‑motivated, willing to travel within their assigned territory and have a passion for working with small businesses.

Responsibilities

This position will develop and maintain relationships with potential and current referral sources, with the primary goal of developing and growing the loan portfolio. It also provides appropriate due diligence and oversight to the existing portfolio to minimize loss.

Business Development and Customer Consulting

• Make new business development calls and follow up on referrals. This includes attending functions that business owners and referral partners typically attend.
• Interview and guide loan applicants through the loan application process.
• Respond to inquiries for information as requested by customers and applicants.
• Identify opportunities to provide technical assistance to borrowers.
• Refer customers to other Northern Initiatives’ staff and contract service providers as appropriate.

Due Diligence and Underwriting

• Conduct due diligence on loan applicants, analyze financial data in order to determine credit worthiness and capacity to repay and meet other requirements per the Loan Policy.
• Research industry and market sectors to understand applicant’s business industry, key risks and challenges.
• Present recommendation for loan approvals to the appropriate Loan Committee.
• Ensure documentation of all loans is compliant with the committee’s loan approval policy, as well as the regulations of Northern Initiatives’ funding agencies.
• Prepare loan memos, environmental assessments, and business valuations as applicable, consistent with NI’s Loan Policy.
• Lead or support loan closings and remain alert to indicators of fraud throughout the lending process.

Monitoring and Collections

• Maintain regular contact with borrowers, review financial statements as required by loan agreements, properly document customer contact and proactively identify borrower’s future financial needs.
• Monitor all loans in the Lender’s portfolio to identify problem accounts, working with the Loan Asset Administrator and borrowers to develop an action plan to avoid delinquencies.
• Responsible for monitoring borrower risk ratings and adjusting when warranted.
• In regular contact with all Northern Initiatives staff, specifically the lending department and business services coaches, to fulfill critical duties within Northern Initiatives. Lender must maintain positive working relationships within the organization, as well as Board members.
• External contacts involve maintaining a relationship with customers (potential and existing), title companies, insurance companies, or bankers by discussing and resolving problems or gathering comments which could lead to proposing measures to enhance services and proactive solutions.
• Connections with outside sources to raise awareness about NI. These outside sources include customers, established partners (banks, economic development groups,…