Loan Officer

ORGANIZATION OVERVIEW:

Genesis LA was created in 1998 with a mission to provide capital and capacity to low-income neighborhoods as a means to facilitate high-impact community development real estate projects. Our mission is to deliver financial solutions that advance economic and social opportunities in underserved communities. We make loans to a variety of borrowers and projects generally consisting of commercial or small business real estate, community facilities, and affordable housing located in low-income communities or serving low-income individuals in Los Angeles County. Genesis LA is certified by the U.S. Treasury Department as both a Community Development Financial Institution (CDFI) and a Community Development Entity (CDE). Through our $150 million on-balance sheet CDFI loan fund (the Genesis Community Investment Fund), we provide real estate loans to non-profits and developers generally ranging up to $5 million per project. As a CDE, we have been awarded nearly $600 million of New Markets Tax Credit (NMTC) allocation, which has provided financing for larger scale real estate projects. Genesis LA pairs its lending products with development services to assist potential borrowers by providing additional capacity to ensure projects move forward and can access our capital. Further, Genesis LA operates multiple community development programs and intermediary services to third parties, both of which are designed to support community development and drive capital to low-income and underserved communities.

POSITION SUMMARY:

The Loan Officer will facilitate Genesis LA’s mission to build the capacity of community development partners and deploy capital to community and economic development projects. The Loan Officer is part of Genesis LA’s 19-person team and will report to the Director of Lending. The Loan Officer’s responsibilities will include underwriting and closing of new loans, maintaining borrower relationships, and asset management of loans.

The ideal candidate will have existing knowledge of Los Angeles as well as its local community development sector and must possess a genuine desire to improve economically distressed communities.  A minimum of 3-5 years of experience in lending, underwriting, or credit analysis is required.

RESPONSIBILITIES:

Underwriting

• Analyze and underwrite potential loans consistent with Genesis LA’s policies and work in collaboration with management on these activities.
• Perform thorough due diligence on potential loans, including site visits, financial proforma analysis, evaluating financial feasibility and repayment sources, appraisal and environmental reviews, entitlement and land use assessments.
• Perform thorough analysis of borrowers’ and/or sponsor’s financial statements, including sources of revenues, expenses, cash flows and balance sheet, as well as operating trends.
• Work with General Counsel and Director of Lending to structure loans, many of which may be complex transactions, negotiate terms with borrowers, and make recommendations on loan terms to management.
• Prepare loan narrative / credit memorandums for review by management and presentation to Board of Directors for approval.

Closing

• Following approval of loan terms, the Loan Officer works with General Counsel and Director of Lending on loan closings, including the preparation of commitment letters/term sheets, coordination of loan documents, and ensuring that final loan terms are consistent with the approved terms and Genesis LA’s loan policies.
• Prepare closing memos to be shared with all staff and to transition ongoing loan servicing to the Accounting Department.

Asset Management

• Administer or assist with the review of loan draws and construction disbursements as needed.
• Assist Lending Team with conducting semiannual and annual loan reviews, including financial spreads for borrowers and/or sponsors, compliance with loan terms and covenants, and review of project performance.
• Assist other staff with gathering and reporting on community impacts resulting from our investments.

Timekeeping

• Employees are required to accurately track and enter all hours worked using the company’s payroll service provider’s web-based timesheet system.

QUALIFICATIONS:

• Bachelor’s degree required, preferably in business, economics, finance, accounting or related fields. Advanced degree is preferred.
• Minimum of 3-5 years of experience in real estate lending, including credit analysis, deal structuring, due diligence, and loan closings. 
• Proficiency in analyzing financials of nonprofit organizations, for-profit developers, and/or small businesses.
• Prior experience and/or demonstrated interest in assisting mission-driven organizations and projects. 
• Excellent written and oral communication skills and attention to detail.
• Outstanding interpersonal skills and demonstrated ability to work collaboratively with a small team on overall business strategies and structuring of transactions.
• Self-starter with an ability to work independently on core responsibilities.
• Strong organizational skills and follow through.
• Ability to manage multiple workstream and projects from start to finish.
• Capacity to prioritize multiple tasks to meet timing needs of Genesis LA, its partners, and borrowers. 
• Ability to work efficiently in a fast-paced environment and to exhibit flexibility within a dynamic and entrepreneurial organization.
• Computer aptitude, including knowledge of Microsoft Office Suite Programs.
• Knowledge of NMTCs, CDFIs, federal, state, and local financing programs and related public policy issues is a plus.

COMPENSATION:

Genesis LA offers a competitive salary commensurate with experience. The expected starting salary range for this position is $110,000 - $130,000, depending on experience. Genesis LA offers full medical, dental and vision benefits, a 401k retirement plan with generous matching terms, 12 paid holidays and 15 days of paid time off per year. Bonus opportunities are also available based on performance.

The position is based at Genesis LA’s corporate offices in Downtown Los Angeles. Genesis LA is primarily an in-person business, with a policy for in-office attendance Monday through Thursday and the option to work from home on Fridays. Management is open to accommodating additional flexibility when needed. Genesis LA also fosters a culture of team building and bonding, with regular social activities.

Interested candidates should forward a resume and cover letter to Dina Valenzuela at dvalenzuela@genesisla.org