Loan Fund Manager

The Womens Opportunities Resource Center is a nationally recognized not-for-profit organization headquartered in Philadelphia that promotes social and economic self sufficiency for economically disadvantaged women and their families.

WORC provides training, individual business assistance, a savings program, support services, and access to business and financial resources. WORC received the "2001 Presidential Award for Excellence in Microenterprise Development: Poverty Alleviation" from the United States Department of Treasury.

Since 1994 WORC has provided over 1,400 individuals with self-employment training, developed and launched the largest incentive savings program for low-income adults in the nation, and established a direct lending program for loans under $5,000 through its non-profit subsidiary, the Economic Opportunities Fund.

The Economic Opportunities Fund provides financial and technical assistance to numerous micro-entrepreneurs and businesses in the Philadelphia area. As a subsidiary of the Womens Opportunities Resource Center (WORC), EOF is able to offer a range of financing products and link customers to the comprehensive array of financial education and other services provided by WORC.

The Economic Opportunities Fund is a certified Community Development Financial Institution (CDFI) by the U.S. Department of the Treasurys CDFI Fund.

Over the next four years, EOF projects to provide $1.9 million to 208 micro-enterprises and small businesses in Philadelphia.

Duties:
Womens Opportunities Resource Center seeks a professional to manage the growth of the loan fund.

Functions & Responsibilities include but are not limited to:

• Manages the Direct Lending Program through analysis, underwriting and approval of loan requests; fund disbursements, loan monitoring and quality control; account collecting; asset/liability management; financial planning and assumptions; periodic reporting on loan program; cash management of loan funds and monitors lenders covenants.
• Manages the Womens Opportunities Resource Center's (WORC) Loan Guarantee Pool and financing referral programs including: helping in the completion /preparation of WORC's loan application and related documents; planning and staffing loan committee meetings, coordinating, finalizing and presenting loan requests (e.g.: appropriate terms, rate, collateral, fees, WORC guarantee %) to WORC's Advisory Council.
• Prepares loan packages.
• Provides access to resources by outside financing, recommends and develops new loan products for WORC.
• Coordinates the WORC Advisory Council by providing staff support in preparation of agenda, reports, and documents and in recording the minutes of each meeting.
• Assists reporting and grant compliance efforts by completing data collection and creating reports as needed for funders, Advisory Council or Board of Directors.
• Develops and implements the Economic Opportunities Fund business plan and marketing plan.
• Participates in fundraising and capitalization efforts.

Qualifications:

• The individual needs a strong background in small business finance, familiarity with local financial, economic development and business assistance communities.
• The candidate must have experience in community development and commercial lending.
• S/he will report to WORCs Chief Operating Officer.

Application Instructions:
Please forward your resume in confidence by e-mail or fax. EOE