Small Business Loan Workout Officer

2 months ago

Denver, United States Colorado Enterprise Fund Inc Full time
Job DescriptionJob DescriptionDescription:

Colorado Enterprise Fund (CEF) is a nonprofit organization dedicated to the success of small businesses. We target our financing resources to undeserved communities-primarily low income, BIPOC, women and veteran owned businesses who are unable to access traditional bank financing. We're committed to creating meaningful impact in Colorado's communities by providing equitable and affordable business financing for entrepreneurs who cannot access bank loans or other financial resources.


At CEF we see our community impact through job creation, wealth building for disadvantaged populations, and the growth and success of the businesses we fund. As a Community Development Financial Institution (CDFI), we offer loans, grants, and free business coaching to entrepreneurs to help them succeed. For more information, please visit our website at

www.coloradoenterprisefund.org.


As a member of the Credit Team, the Small Business Loan Workout Officer will manage and report on a portfolio of distressed small business loans including SBA loans.


Essential Duties/ Responsibilities

  • Work closely with borrowers to find non legal solutions to difficulties. Restructure loans, substitute collateral, enhance collateral positions, settle guarantees preserve collateral and other workout tasks.
  • Provide technical assistance with loan modification agreements by working with clients who are having financial difficulties.
  • Refer and strongly encourage clients who are having financial difficulties to Business Navigation (BN) team for more in-depth free technical assistance.
  • Perform site visits, provide technical assistance to clients by reviewing their financial statements, cash flow analysis, and devising exit strategies for distressed assets.
  • Supply input about amounts to be written-off each quarter and for the full year.
  • Perform Troubled Asset Reviews on all loans over 60 days past due and regular loan reviews on all loans in the distressed portfolio.
  • Manage and assist CEF’s attorneys on pending lawsuits and or bankruptcy cases. Send files and documents to attorneys for legal assignment, monitor filing of claims, court processes, proof of claims in Bankruptcies, make decisions when to prudently spend legal dollars to pursue collateral of value.
  • Weekly reporting to Director of Credit with a review of all loans in the legal process.
  • Maintain current notes in each file as to ongoing status of legal process of borrower negotiations.
  • Be active in documenting collections processes in borrower files.
  • Act as the company’s representative in collections legal proceedings as needed.
  • Assist in collection and notification processes for borrowers.
  • Maintain confidentiality of all corporate and borrower-related matters.
  • Perform other duties as assigned by the Director of Credit.


Knowledge, Skills & Abilities

  • Well-developed oral and written communication skills.
  • Experience with a variety of computer software programs.
  • Excellent grasp of financial statements, business practices, and accounting practices.
  • Comprehensive understanding of the legal collection process, bankruptcies, judgments, garnishments, and general commercial loan workout practices.
  • Solid working knowledge of loan documents and how each is used in litigation.
  • Professional demeanor and flexibility to work across a broad range of cultures, backgrounds, personalities and working styles.
  • A commitment to community development and CEF’s mission to support under-served businesses while appropriately balancing our need to protect organizational assets.
  • Ability to prioritize duties and work independently while remaining flexible to changing assignments.
  • Commercial Credit Analyst background is preferred, but not necessary.


Requirements:

Training/Education

  • Bachelor’s degree from an accredited institution and/or equivalent experience required.
  • Experience
  • At least 3-5 years small business or commercial loan work-out experience.
  • SBA 7A workout experience strongly preferred.
  • Depth of understanding of legal proceedings. Be conversant in Bankruptcy and Civil proceedings, demonstrate an understanding of how to attach collateral, garnish wages, liquidate assets and preserve collateral.

Working Environment

  • CEF is a hybrid workplace. CEF provides all employees with a work laptop, and additional necessary workspace equipment as needed
  • Ability to regularly travel to main CEF office for work, attend meetings or complete training as required.
  • Prolonged periods of sitting at a desk working on a computer


Note: This job description is not intended to be an exhaustive list of all duties, responsibilities, or qualifications associated with the job.


Colorado Enterprise Fund is an equal opportunity employer.

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