Analyzes commercial loan applications and structures credit arrangements in order to generate interest income while limiting credit losses, in order to support the operations and fulfill the NJEDA mission. Primarily responsible for loans under programs such as Department of Environmental Protection, PNC Business Growth Fund, Preferred Lender Program and Statewide Loan Pool Program.

Interviews applicants regarding business, financial and operational matters and personal financial information; negotiates guarantees, collateral or loan conditions and conducts site tours.

Reviews applications for completeness, evaluates loan request and determines how to best structure the loan/guaranty if not determined in advance.  Follows up with applicant, banker or marketing officer for needed information.

Prepares loan underwriting including financial statements, business and personal cash flow analysis, collateral analysis and the strengths, weaknesses and mitigants of each loan to be approved; analysis of public policy considerations and compliance with internal credit and program policies. Presents each loan for consideration at monthly loan review committee.

Reviews draft commitment letters once loan and/or guarantees are approved for consistency with Board approvals and correctness.  Responds to applicant questions, negotiates changes and obtain approvals as required.

Monitors the outstanding loan commitments to ensure projects proceed and loans are closed on a timely basis. 

Reviews applicant’s compliance with conditions of approval prior to closing of loan and ensures current financial and other information has been received.  Approves closing memorandum and recommends approval to Director and transfers to Lending Services to close.

Reviews and makes recommendations on requests for modifications to loans.

Performs financial reviews on projects that do not involve Authority exposure, as requested.

• On the job training in loan approval procedures, closing and disbursement processes
• Must be able to communicate effectively both verbally and in writing, proficiency in business presentations and report writing Understanding of GAAP, income, balance sheet and cash flow statements and personal net worth statements and tax returns
• Knowledge of sound lending and underwriting principles, industry standards and regulatory compliance
• Knowledge of loan approval procedures, closing and disbursement processes
• Ability to understand loan documentation, appraisal, environmental reports, NJEDA loan policy and procedure manual
• Excellent interpersonal skills when dealing with external business professionals and NJEDA staff
• Must possess advanced Microsoft Office suite, Moody’s Financial Analyst and database skills and have the ability to learn new software programs.

Education and Experience Requirements

• Bachelor’s Degree in Accounting, Finance or Business Administration and/or equivalent professional experience
• Formal commercial credit training preferred
• Minimum three to five years commercial banking/lending experience, including client relationship management experience

Physical Demands

Travel to applicant sites

• May require work outside of normal business hours

Certificates and Licenses Required

• Not Required

Must complete a Conflict of Interest Law, Disclosure of Outside Office or Employment Statement form annually.