About TruFund Financial Services

TruFund Financial Services, Inc. ("TruFund") is a 501(c)(3) Community Development Financial Institution (CDFI), certified by the U.S. Treasury Department’s CDFI Fund and headquartered in New York City with offices in LA, AL, TX & GA. Our mission is to promote and foster economic development within underserved communities and among disadvantaged populations. TruFund achieves this by providing innovative financial solutions that have a TruImpact, revitalize communities, and create jobs. As a nonprofit, mission-driven entity, TruFund offers affordable loan capital to small businesses and nonprofit organizations that are financially viable but have difficulty accessing capital from banks or other conventional lenders.

Our lending and impact efforts are further enhanced through our two wholly owned subsidiaries: Empowerment Reinvestment Fund, a National CDE offering New Markets Tax Credit to enable access to private investment in distressed communities, and our Tru-Capital Investment Fund – Impact Developers Fund, which provides equity capital to established underrepresented affordable housing developers nationally.

TruFund was established in 2005 as a nonprofit organization dedicated to advancing economic opportunities for people, businesses, and communities in need.

Position Summary

Reporting directly to the Chief Lending Officer, the VP of CRE lending Loan is responsible for managing, identifying, acquiring, and expanding community commercial real estate Commercial Loan Opportunities in target markets. The VP of CRE lending will work closely with and support the Lending Team for CRE lending as well as borrowers and key stakeholders find solutions and effectively manage the loan process from origination through booking and will continue to actively manage the borrower relationship throughout the term of the loan.

Estimated Salary: $135,000 - $150,000 per year + Bonus as well as a full benefits package that includes health, life, dental and disability insurance, sick leave, 4 weeks’ vacation and 12 paid holidays per year. In addition, the position will be remote but preferably based in the NY Tri-State area.

About the Role:

The VP of CRE lending will also analyze, structure, and negotiate credit requests.

Marketing/Outreach

• Cultivates new Commercial Loan Opportunities in target underserved markets.

• Responds to referrals (internal and external) in a timely, professional manner.

• Promotes TruFund’s loan services and products and technical assistance resources to prospective borrowers, community organizations, banks, and government agencies to enhance its reputation.

• Promotes a positive attitude and team approach to customer relationships.

• Participate in selective activities that promote community development lending activities.

• Participates in special projects designated by the Chief Loan Officer.

Loan Origination

• Aggressive and proactive outreach to potential borrowers in our lending markets, that need commercial real estate loans and will occupy a minimum of 20% of the space.
• Gathers personal information about clients and businesses to ensure that an informed decision is made regarding the creditworthiness of the borrower and the probability of repayment.

• Analyzes and verifies borrower loan application to determine his or her creditworthiness.

• Provides guidance to prospective borrowers who have problems qualifying for traditional loans.

• Determines the most appropriate type of loan for a particular borrower, and explains specific requirements and restrictions associated with the loan. Some of the functions of a loan counselor may also be performed by the Loan Officer.

• Responds to client requests in a timely, professional manner within 48 hours. Meets performance goals on a quarterly basis.

• Underwriting. Understands how to pre-underwrite a loan to determine viability.

• Formal Credit Training. Understands of how to analyze business financials.

• Reviews their own as well as the Lending Team’s submitted loan application file to analyze, interpret and evaluate financial information and loan documentation to assess borrower capacity, cash flows, character, collateral, and condition to honor his or her obligations.

• Conducts a comprehensive industry and financial analysis and risk assessment and to determine appropriate loan terms and repayment schedule.

• Packages loans and submit to the Credit department for review and approval.
• Ensures that approval of new loan requests complies with loan underwriting, product and program policies and procedures.

Key Responsibilities:

• Meet with loan applicants to collect financial and related data on prospective borrowers to determine the merits of the specific loan request.
• Guides borrowers through the application process and negotiate, where necessary, terms under which credit will be extended, including the costs, repayment method and schedule and collateral requirements.
• Evaluates loan applicants and reviews appraisals, credit reports, and other necessary information to evaluate loan requests.
• Coordinates with loan processors and underwriters to ensure the accuracy and completeness of loan analysis and documentation and to ensure that new loan requests comply with loan underwriting, product and program policies and guidelines.
• Increase TruFund’s loan program visibility, enhance new business opportunities and participate in activities that promote TruFund’s programmatic and community development lending activities.
• Participates in special projects designated by the Chief Lending Officer and other senior managers including the delivery of educational workshops and presentations on industry panels and at community events.
• Works closely with loan collections staff to contact borrowers with delinquent loan accounts to help them find a method of repayment in order to avoid their defaulting on the loan.
• Cultivates new lending opportunities in target underserved markets and responds to referrals (internal and external) in a timely, professional manner.
• Promotes a positive attitude and team approach to customer relationships

KNOWLEDGE, EXPERIENCE, SKILLS, AND ABILITIES REQUIREMENTS

Education and Related Work Experience:

· BS/BA

· Minimum 7 years of lending experience required; formal credit training is a plus.

· Prior work-related experience with Small-Balance ($1Million - $5Million) Commercial Real-estate Lending, community development lending, Small Business Administration (SBA) loans, as well as traditional and alternative loan programs is beneficial.

· Existing Book of Business. Able to hit the ground running by bringing new loans to TruFund.

Knowledge, skills, and abilities:

• Strong financial skills and ability to develop and interpret financial statements applied to business accounting and finance principles are required.

• Superior analytical skills are required.

• Knowledge of small balance commercial real estate lending - $500,000 - $5,000,000.

• A working knowledge of Small Business Administration (SBA) Loan Programs, Policies and Procedures as well as traditional and alternative Loan Programs is beneficial.

• Must be proficient in Windows based software.

• Must possess the ability to meet performance goals.
• Knowledge of local markets (e.g. NY, NJ, TX, GA) including financial institutions, local government, and community organizations; and an understanding of local priorities, opportunities and challenges are preferred.

EQUAL OPPORTUNITY EMPLOYER