Loan Officer

$60,000 - $73,000/Yr

HIAS - Silver Spring, MD

- Entry Level

Silver Spring, MD

Justice, Public Order, and Safety Activities

About the position

The Loan Officer plays a critical role in empowering refugee entrepreneurs by providing tailored financing solutions, training, and technical assistance to help launch, stabilize, and grow their businesses. This involves proactively identifying new clients, building trust-based relationships with refugee business owners, understanding their unique financial and operational challenges, and delivering personalized guidance throughout the lending process. The Loan Officer conducts in-depth assessments of applicants' financial needs, evaluates business viability, and structures loans that balance accessibility with sound risk management practices. Operating in a virtual capacity across multiple geographic markets, the Loan Officer ensures that refugee entrepreneurs, regardless of location, have equitable access to financial resources and guidance they need to succeed. HIAS Economic Advancement Fund (EAF) is a non-profit organization and emerging CDFI loan fund that provides refugees and other forcibly displaced entrepreneurs access to capital so they can launch and grow their businesses. EAF works alongside HIAS resettlement partners that are local Jewish and secular service agencies working on the ground in communities across the country to help refugees settle and integrate into their new communities. EAF was founded in 2022 by HIAS, the Jewish humanitarian organization that provides critical services to refugees, asylum seekers, and other forcibly displaced people around the world. This position is temporary, starting ASAP and ending December 31, 2026, with possible extension. The salary range for this position is $60,000.00-73,000.00.

Responsibilities

• Work closely with HIAS affiliate partners and other refugee-serving organizations to identify and engage prospective clients across multiple geographic markets virtually.
• Assist clients in navigating digital tools and platforms to access services, complete loan applications, and participate in training sessions.
• Conduct comprehensive intake assessments to understand clients' business needs, growth goals, and financing requirements, tailoring support to each entrepreneur's unique circumstances.
• Facilitate one-on-one and group virtual training sessions on key topics such as financial literacy, business planning, marketing strategies, and navigating business challenges.
• Provide individualized guidance to business startups, helping them create realistic business plans, develop detailed budgets, and forecast cash flow.
• Assist clients in preparing and reviewing loan applications, focusing on applicants with non-traditional credit profiles.
• Organize and review loan application materials to ensure accuracy and completeness, identifying missing documentation and proactively requesting additional information as needed.
• Build trust and maintain strong relationships with refugee entrepreneurs through culturally sensitive communication.
• Maintain consistent communication with clients, addressing inquiries promptly, providing guidance, and monitoring their progress toward business milestones.
• Track technical assistance activities and client outcomes using internal databases, ensuring data integrity for reporting and program evaluation.
• Develop and maintain a robust referral network of business-support organizations within each geographic market to enhance services and resources for clients.
• Identify at-risk loans early and collaborate with clients to develop effective remediation strategies.
• Seek out and participate in training programs appropriate to EAF's work as an emerging CDFI and non-profit lender.
• Support additional initiatives, projects, and responsibilities as directed by the Lending Manager or organizational leadership.

Requirements

• Undergraduate degree in business administration, finance, economics, or a related field, or equivalent work experience.
• 2-3 years of experience in small business lending, community development, or financial services, ideally with a CDFI or nonprofit organization.
• Demonstrated understanding of U.S. business climate, business systems, and business development, with experience in business counseling strongly desirable.
• Experience working with underserved populations, particularly refugees or immigrant communities, is highly preferred.
• Knowledge of business development resources and challenges faced by small business owners, particularly those in refugee and immigrant communities.
• English fluency required; fluency in one or more languages spoken by refugee communities (e.g., Spanish, Ukrainian, Dari, Pashto, Arabic, or others) is desirable.
• Self-motivated, with the ability to work independently in a virtual environment while maintaining close communication with the team.
• Flexibility and adaptability to work across different time zones and respond to the evolving needs of refugee business owners.
• Proficiency in virtual communication tools (e.g., Zoom, Microsoft Teams) and outcomes tracking software.
• A commitment to EAF's mission and its impact on its community.
• Travel, to include travel to insecure operating environments, may be required.

Nice-to-haves

• Experience in business counseling strongly desirable.
• Fluency in one or more languages spoken by refugee communities is desirable.