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Business Development Officer
at TruFund Financial Services, Inc.
New York, NY

Business Development Officer
at TruFund Financial Services, Inc.
New York, NY

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Job Description

 Position Summary:

The Business Development Officer is responsible for identifying, acquiring, and expanding community development lending opportunities in target markets with a focus on providing loan financing, training and advising to small businesses and nonprofit organizations. The Business Development Officer will work closely with clients to assess needs, align solutions, and effectively manage the loan application process from origination to closing, and will continue to actively support the borrower relationship throughout the customer lifecycle.

Primary Job Functions:

Outreach & Deal Generation

·         Cultivates new lending opportunities in target underserved markets

·         Identifies, initiates and sustains positive relationships with client referral sources including banks, community-based organizations, city, state and federally sponsored small business support centers and programs among others.

·         Promotes TruFund’s mission, programs, products and services to prospective clients, client referral sources and other community stakeholders to build brand awareness and expand impact.

·         Responds to referrals (internal and external) in a timely, professional manner.

·         Identifies and participates in events and activities that promote community development lending opportunities.

·         Delivers educational workshops and presentations on panels and at community events as needed.

Client Relationship Management, Training & Advising

  • Builds and sustains trust and rapport with a diverse range of clients.
  • Assesses client needs and goals and aligns TruFund’s products and services to effectively meet needs and goals

·         Empowers clients with knowledge and guidance on business management matters including strengthening qualifications for debt financing, preparing for and navigating the loan application process, utilizing loan capital, managing cash flow, and, improving overall financial sustainability and scalability.

·         Works closely with loan collections staff to contact borrowers with delinquent loan accounts to help them find a method of repayment to avoid defaulting on the loan.

·         Supports a team approach to customer relationship development and continuity.

·         Promotes an overall client experience that leaves clients feeling empowered, at-ease, respected and regarded.

Loan Origination

·         Aligns the most appropriate type of loan product to the borrower’s goals and needs and explains specific requirements and restrictions associated with the loan.

·         Supports borrowers step-by-step through the application process by obtaining information about the purpose of the loan, supporting pre-screen processes, explaining the different types of loans and credit terms that are available, helping to explain and obtain documents and other requirements of the loan application, underwriting and closing processes.

·         Organizes completed loan applications and submits them to Credit department for review and approval.

·         Responds to client requests in a timely, professional manner.

·         Meets performance goals on a quarterly basis – weekly goal for completed loan applications may exceed $100,000.

Underwriting Support

·         Provides critical thinking, analysis, interpretation and evaluation of financial information and loan documentation to assess borrower capacity, cash flows, character, collateral, and condition to honor his or her obligations.

·         Supports a comprehensive industry and financial analysis and risk assessment to determine appropriate loan terms and repayment schedule.

·         Ensures that approval of new loan requests comply with loan underwriting, product and program policies and procedures.

Team & Organizational Support

·         Understands and adheres to organizational policies, procedures, and guidelines.

·         Participates in collaborative efforts to continually strengthen and develop the capabilities of the New York lending and business development services team to better serve clients.

·         Supports and contributes to organization-wide initiatives to improve overall efficiency and effectiveness to better deliver on TruFund's mission.

·         Promotes and sustains organization-wide norms and practices that encourage a culture that is performance-oriented, entrepreneurial and client-centered.

·         Promotes and sustains a collaborative, professional and healthy work environment.


Minimum Qualifications:

Education and Related Work Experience:

·         BS/BA required

·         Minimum 3 years of small business lending experience

·         Formal credit training is a plus.

·         Prior work-related experience with community development lending, Small Business Administration (SBA) loans, as well as traditional and alternative loan programs is beneficial.

Knowledge, Skills, and Abilities:

·         Strong financial skills and ability to develop and interpret financial statements applied to business accounting and finance principles are required.

·         Superior analytical skills are required.

·         A working knowledge of Small Business Administration (SBA) Loan Programs, Policies and Procedures as well as traditional and alternative Loan Programs is beneficial.

·         Must be proficient in Windows based software.

·         Ability to travel throughout New York City to visit prospective and current clients as necessary

·         Must possess the ability to meet performance goals.

·         Knowledge local markets including financial institutions, local government, and community organizations; and an understanding of local priorities, opportunities and challenges are preferred.

·         Ability to fulfill Business Development Officer responsibilities in Spanish is also preferred.


We appreciate all responses, but due to the volume of applications we usually receive, we are not able to give status updates, but if you are invited for an interview, you will be contacted by a member of TruFund staff.

TruFund Financial Services is proud to be an Equal Opportunity Employer.

E-Verify Employer.


Company Description

TruFund Financial Services, Inc. (TruFund) is a national Community Development Financial Institution (CDFI) with offices in New York City; New Orleans and Baton Rouge, Louisiana; and Birmingham Alabama. TruFund seeks to stimulate economic development in communities that are underserved by traditional banking institutions by providing affordable capital, hands-on technical assistance and innovative solutions to small businesses, nonprofit organizations, real estate developers, and other CDFIs. In the largest single round in the history of the New Markets Tax Credit (NMTC) Program since its creation in 2001, TruFund Financial Services, Inc. was recently awarded $55 million to spur economic and community development in distressed and low-income communities.

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