Economic Development Coordinator-Metco Loan Specialist

Summary Objective

The purpose of this position is to coordinate the economic development activities of the department to include business outreach, project management, lead generation and strategy development.

This class works independently, under limited supervision, reporting major activities through periodic meetings.ESSENTIAL FUNCTIONS

The essential functions listed below are those that represent the majority of the time spent working in this class. Management may assign additional functions related to the type of work of the class as necessary.

Assists neighborhoods in establishing business associations.

Represents the department to business officials, business groups, entrepreneurs and committees to disseminate and provide information on available economic development programs and services.

Participates in planning and developing programs or activities to address minority economic development issues and community concerns.

Contacts retailers and other businesses regarding economic development programs and promotions.

Meets with lending partners regarding loan negotiations and renewal of minority program contracts.

Administers economic development grant programs, and recommends grant funding opportunities.

Provides technical assistance and instruction, and assists businesses and business associations with securing services, grants, loans and assistance from government agencies.

Coordinates agency activities with commercial or industrial businesses regarding possible expansion, acquisition, retention, relocation or other business issues.

Prepares correspondence and activity reports, and complete special projects.

Researches and recommends economic development best practices.

Utilizes data driven metrics and other performance measures as part of continuous improvement efforts.

Performs related work as assigned.

METCO LOAN SPECIALIST:

Meets with prospective borrowers regarding the loan application process, assesses eligibility, and provides guidance on application submissions.

Underwrites loan applications, including completing all due diligence, verification and financial analysis following METCO's policies and procedures. Collects all required documents from applicants. Conducts site visits and follow up as needed.

Presents loan applications to the METCO Loan Committee and METCO Board for decision.

Coordinates closing of approved loans, including due diligence, coordinating financial disbursements and legal documents, perfecting security interests, and setting up new loans for servicing.

Monitors and services active METCO loans, including sending monthly statements, monitoring the portfolio for accounting accuracy, and contacting delinquent borrowers.

Maintains professional relationships with borrowers and conducts follow up site visits and/or meetings as needed to promote timely loan repayment and ongoing business success. Provides referrals to borrowers for technical assistance and/or other resources when appropriate.

Conducts outreach, networking, and presentations about the METCO loan program.

Represents METCO and the department to business officials, business groups, entrepreneurs, banks, and organizations engaged in small business development, financing, and technical assistance.

Responds to general inquiries about METCO and makes referrals to partner organizations when appropriate.

Assists with collection and reporting of data related to METCO loans and access to credit.

Maintains electronic and physical loan records as required for program compliance.

MINIMUM EDUCATION AND EXPERIENCE REQUIREMENTS:

METCO LOAN SPECIALIST:

Bachelor's degree in Business or Public Administration, Finance, Accounting, Economic Development, or a Related field.

Three (3) years of experience in small business, financial analysis, economic development, lending, or community development, or an equivalent combination of education, training, and experience.

PHYSICAL DEMANDS:

Physical demands refer to the requirements for physical exertion and coordination of limb and body movement.

Performs sedentary work that involves walking or standing some of the time and involves exerting up to 10 pounds of force on a regular and recurring basis or sustained keyboard operations.

UNAVOIDABLE HAZARDS (WORK ENVIRONMENT):

Unavoidable hazards refer to the job conditions that may lead to injury or health hazards even though precautions have been taken.

None.

SPECIAL CERTIFICATIONS AND LICENSES:

Must provide one's own source of transportation.

Must possess and maintain a valid state driver's license with an acceptable driving history.

AMERICANS WITH DISABILITIES ACT COMPLIANCE

Louisville Metro Government is an Equal Opportunity Employer.  ADA requires the Louisville Metro Government to provide reasonable accommodations to qualified persons with disabilities. Prospective and current employees are encouraged to discuss ADA accommodations with management.

STANDARD CLAUSES

May be required to work nights, weekends, holidays and emergencies (man-made or natural) to meet the business needs of Louisville Metro Government.

This job description is not designed to cover or contain a comprehensive listing of essential functions and responsibilities that are required of an employee for this job. Other duties, responsibilities, and activities may change or be assigned at any time with or without notice.

ESSENTIAL SAFETY FUNCTIONS

It is the responsibility of each employee to comply with established policies, procedures and safe work practices. Each employee must follow safety training and instructions provided by their supervisor.

Each employee must also properly wear and maintain all personal protective equipment required for their job. Finally, each employee must immediately report any unsafe work practices or unsafe conditions as well as any on-the-job injury or illnesses.

Every manager/supervisor is responsible for enforcing all safety rules and regulations. In addition, they are responsible for ensuring that a safe work environment is maintained, safe work practices are followed and employees are properly trained.

EOE