DEPARTMENT: Business Lending, Financial Services
REPORTS TO: Loan Officer, Business Lending
Philadelphia Industrial Development Corporation (PIDC) is Philadelphia’s public-private economic development corporation. Our mission is to spur investment, support business growth, and foster developments that create jobs, revitalize neighborhoods, and drive growth to every corner of Philadelphia. You can learn more about PIDC at www.pidcphila.com.
PIDC’s Business Lending Team manages the marketing, structuring and approval of flexible financial products designed to support a thriving and equitable small business climate in the City of Philadelphia. Financial products for small business needs include lines of credit, working capital, purchase of machinery or equipment, tenant improvements, and real estate acquisition, renovation, and construction, machinery or equipment, tenant improvements, and real estate acquisition, renovation and construction.
Analyst Responsibilities include, but are not limited to the following:
Application pipeline management: Support the management of the business development pipeline to ensure a complete file for full underwriting. Follow up with relationship managers and/ or clients to complete application files. Draft financial spreads and preliminary underwriting analysis for internal review. Enter all credit, loan terms, and impact related data in Salesforce and make regular updates to ensure accuracy for credit approval and reporting purposes.
Application intake, review, and analysis: Proactively liaise with PIDC’s Relationship Managers for effective and smooth client handoffs from application to underwriting. Lead clients through the underwriting, approval, settlement, and post-closing process for PIDC loans and other resources. Schedule and attend underwriting meetings and support lead underwriter in loan structuring and other credit related discussions. Assist with the drafting of Term Sheets and secure source of funds for all deals in preliminary underwriting stages. Assemble underwriting materials, and assist with written credit memo including project description, market, and financial analysis as applicable. Ensure compliance with credit policy and PIDC underwriting standards.
Approvals and settlement: Where applicable, present or support the presentation of credit memo’s internally and to PIDC’s Loan Committee. Input and maintain project-related files and data systems in coordination with PIDC Loan Administration. When required, draft and/or review commitment letters and coordinate client handoff to Loan Administration, Legal and Portfolio Management Groups as the primary contacts for settlement, disbursements, and post-closing loan covenant monitoring.
Administration of Technical Assistance (TA) resources: Identify needs and opportunities for targeted TA and business support services for existing clients and prospects, i.e., business planning assistance, grant opportunities, referrals to key service providers or other support services, and more. Develop, and as needed, deliver technical assistance programs for PIDC’s clients and key partners, including the City of Philadelphia.
New business development, relationship management, and ongoing professional development: Support team’s business development efforts by a) developing relationships with existing clients and new prospects to drive new business; b) cultivating relationships with key intermediaries to reach prospective clients, such as bankers, accountants, attorneys; c) representing PIDC for relevant networking, educational, and industry events; d) tracking new contacts, accounts, and deals using customer relationship management (CRM) tools. Attend annual trainings and conferences from trade organizations, such as Opportunity Finance Network and Risk Management Association, to continually sharpen technical and industry knowledge.
Salary will be commensurate with experience. PIDC offers a competitive benefits package including healthcare, dental and vision coverage.
Interested applicants should electronically submit a cover letter and resume by no later than April 4, 2022 to the contact info below.
PIDC promotes a culture of inclusion and prohibits discrimination in any employment or promotional practices on the basis of race, color, sex (including gender identity, sexual orientation, and pregnancy), religion, national or ethnic origin, age, disability, veteran status, or any other legally protected factor.