Shared Capital Cooperative is a cooperatively owned community development loan fund committed to fostering a just, equitable and democratic economy by investing in the development and growth of cooperative enterprises. As a federally certified Community Development Financial Institution (CDFI), Shared Capital provides financing for cooperative businesses and affordable housing. Shared Capital is democratically owned and governed by 250 cooperatives across 36 states, including consumer, producer, housing and worker-owned cooperatives. Shared Capital is an $11 million loan fund with a 40-year successful track record.
Shared Capital Cooperative seeks a Loan Administrator to support its lending programs. The Loan Administrator plays a key role in ensuring the smooth and accurate functioning of the organization’s lending activities. This position reports to the Director of Lending and supports the Lending Team. The position is expected to deliver the following results:
- Manage all aspects of the loan closing process.
- Prepare loan documents including commitment letters, promissory notes, security agreements, mortgages and guarantees.
- Assist with coordinating transitions between the loan origination and underwriting approval, and commitment, closing and loan activation.
- Coordinate and work with legal representation with respect to loan closings.
- Perfect appropriate liens to secure collateral including mortgages, UCC filing, and ensure appropriate renewals and releases are managed in a timely manner.
- Maintain complete and up-to-date loan files and electronic records.
- Prepare required schedules and materials related to lending activities to facilitate an efficient and clean annual audit.
- Enter and maintain loan data, including outcomes and impacts;
- Generate timely and accurate reports of lending activity for use by staff and governance bodies (Loan Committee, Board of Directors, etc.).
- Provide prompt and clear information and assistance to borrowers regarding their loan accounts.
- Monitor borrower compliance with all loan covenants.
- Demonstrate consistent and excellent customer service to meet the needs of applicants and borrowers;
The successful candidate will be a person with the following traits and qualifications:
- 3-5 years loan administration experience and/or paralegal experience in a lending environment
- Demonstrated consistent and excellent customer service to meet the needs of applicants and borrowers.
- Highly organized
- Great attention to detail with a high degree of accuracy
- Strong time management skills and ability to prioritize work effectively
- Sound numerical aptitude
- Self-directed and able to work with limited supervision
- Enjoys being helpful and working with a team of colleagues
- Good oral and written communication skills
- High level of expertise with Microsoft Excel and Word
- Familiarity with database and/or accounting systems a plus (especially TEA)
- Interest in the organizational mission, community development and cooperatives
Shared Capital Cooperative is an Equal Opportunity Employer. We are committed to building a multiracial, multiethnic, class-diverse and all-gender embracing organization. We do not discriminate on the basis of race, color, creed, religion, national origin, sex, gender, age, marital status, disability, public assistance status, prior convictions, personal credit score, veteran status, sexual orientation, gender identity, or gender expression. We desire a diverse pool of applicants and particularly encourage applications from women, people of color, LGBTQ and immigrant communities.
This position is a full-time, non-exempt position.
Shared Capital offers competitive salary and a generous benefits package, including employer-paid health and dental coverage, Health Savings Account, short and long-term disability, matching retirement contributions and generous Paid Time Off.
All inquiries and applications should be sent to: