Los Angeles, California
Inclusive Action for the City is a non-profit, community development financial institution (CDFI) whose mission is to serve underinvested communities and build thriving local economies by improving access to transformative capital and advancing policy through collaborative research and community-driven advocacy. We envision diverse communities that have equitable and… sustained access to resources and exercise agency over their futures.
Position Overview
Inclusive Action is seeking a self-motivated and experienced Loan Underwriter (part-time) to support Inclusive ActionÂ’s Access to Capital initiatives by reviewing and analyzing SemiÂ’a loan applications of low-income entrepreneurs. The part-time employee will work directly with the Underwriting Team and closely with IACÂ’s business coaching team, who conduct client intake, and IACÂ’s outreach team, whose work supports the build-up of the loan pipeline.
The Loan Underwriter will help gather all available and necessary information from clients to develop a comprehensive analysis of the applicantÂ’s ability to take on debt capital to grow their business. The Underwriter will also perform basic reviews of documents submitted, track the loan application, process and maintain organized files of information received from potential borrowers, and prepare credit memoranda and supporting materials for the Loan Committee.
This position requires an exceptionally organized and detail-oriented individual who is persistent in making sure there are no gaps in the information collected. To be successful, the Loan Underwriter must be systems-oriented, have strong customer service skills, and be an effective problem solver.
The Loan Underwriter is an hourly part-time (28 hours/week), 6-month temporary position, with the opportunity to extend for an additional 5 months. The Underwriter will report to the Underwriting and Technical Assistance Associate.
Primary Job Responsibilities
• Review 10-20 loan applications (dependent on IAC pipeline) per week. (IAC offers loans that range from $500 to $50,000.)
• Review all available and necessary information on applicant file to develop a comprehensive analysis of the applicant’s ability to take on debt capital to grow their business.
• Monitor the loan application process and ensure review of files in the application pipeline.
• Review applicant credit reports and alternative credit score data.
• Work in partnership with the Technical Assistance team to collect missing information and answer questions that emerge in the underwriting process.
• Prepare business financial statements and cash flow projections.
• Prepare loan memoranda and supporting materials for the Loan Committee.
• Prepare and maintain organized electronic and hard client files.
• Update files and maintain accurate client data in conjunction with other relevant team members in DownHome Solutions and Lenderfit.
• Support the cultivation of a creative, productive environment with Inclusive Action staff and its partners.
Ideal candidates will have the following qualifications:
• Bachelor’s degree in Business Administration, Public Policy, Public Administration, Economics, Finance or comparable work experience in the field;
• At least five years of experience in administration, finance, program management, or small business assistance;
• Strong organization and file management skills;
• Experience in project management;
• Ability to create and work with systems for effective management of high volume of data;
• Strong written and verbal fluency in the Spanish or Tagalog preferred;
• Ability to work effectively with diverse audiences;
• Valid driver’s license with reliable transportation;
• A positive, upbeat attitude that supports Inclusive Action staff and its organizational partners;
• Commitment to Inclusive Action’s mission.
Compensation
The expected salary is $50/hour, dependent on experience, for 6 months with an option to extend for an additional 5 months.
To Apply
Please send a cover letter, resume, one writing sample, and three references to work@inclusiveaction.org. Inclusive Action will inform you before they reach out to references. Please make the subject of your email “YOUR NAME- Loan Underwriter (part-time).”
Hybrid Work Schedule
Currently, the Inclusive Action team is working in person at the office 40% of the time and remotely 60% of the time until further notice, and all employees must be vaccinated against COVID-19. The physical office is located in Boyle Heights and is available for necessary in-person appointments as well as an optional workspace. All applicants are expected to live in Los Angeles County.
Equal Opportunity Employer
Inclusive Action for the City does not discriminate on the basis of race, color, religion, sex (including pregnancy and gender identity), national origin, political affiliation, sexual orientation, marital status, disability, genetic information, age, membership in an employee organization, retaliation, parental status, military service, or other non-merit factor. Applicants and employees are protected from discrimination under Federal law. For more information, please see EEO is the Law. Inclusive Action for the City hires and promotes individuals solely based on their qualifications for filling the job
