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Posted on

Senior Underwriter, Commercial Lending

Capital for Change (C4C) in Wallingford, CT, USA


$55,000 to $85,000 Annually

Benefits Offered

401K, Dental, Life, Medical, Vision

Employment Type


Why Work Here?

“A growing nonprofit with a wonderful mission, competent coworkers, and exceptional benefits!”

1. Narrative Summary of Position

Capital for Change (C4C) is the largest full-service Community Development Financial Institution (CDFI) in Connecticut offering capital solutions that create and sustain lasting positive change for low-income communities, broaden social and economic participation, and encourage economic growth and environmental sustainability. C4C provides financing with an approach that one size does not fit all, which allows C4C to provide high impact products and programs that create and preserve affordable housing, increase adoption of energy efficiency, support mixed-use and small business development, and assist nonprofit organizations.

This position has both a programmatic and lending focus as affordable multifamily housing loans often support projects that rely on subsidy as part of the financing stack. The incumbent assists the Director of Commercial Lending with the development, implementation, tracking, use of C4C’s housing subsidy program funding, including participating in grant writing and program reporting.

2. Specific Responsibilities

Loan Underwriting and Approval

  • Work closely with Lending team to help source and underwrite impactful loans that adhere to underwriting standards.
  • Build and maintain close working relationships with referral sources, potential partners, potential borrowers and funding sources.
  • Assess applicant's financial strength by reviewing financial statements, audits, tax returns, credit reports and organizational documents.
  • Assess applicant's organizational capacity to carry out a project by reviewing experience, references, development team, etc.
  • Assess strength and feasibility of projects by reviewing project descriptions, scopes of work, financing sources and uses, development and operating pro formas, real estate valuations and appraisals, environmental reports, insurance coverage, neighborhood and community characteristics
  • Provide informal technical assistance through the application and underwriting process and, as needed coordinate delivery of formal technical assistance activities through internal and external sources.
  • Prepare Loan Approval Document (LAD) and Risk Rating in accordance with internal credit and programs requirements and present to Loan Committee or other loan approval authority as designated in Loan Policies.
  • Develop comprehensive understanding of C4C’s loan products and programs, policies and procedures and assist in updating and modifying where needed.
  • Identify and work with other lenders on loan participation opportunities.
  • Monitor market needs and assist in development of new products/programs as appropriate.
  • Assist Lending department in meeting lending goals
  • Develop and maintain an understanding of C&I/small business lending

Loan Closing, Monitoring and Administration

  • Assist in loan closing activities including coordination with attorney, review of commitment letters and documents as needed.
  • Manage contracting with relevant consultants (e.g. appraisers, inspectors, etc.)
  • Prepare booking form for onboarding loans and compiling impact data.
  • Assist in reporting to funders, staff, Loan Committee and Board as needed.
  • Assist in modification, renewal and work out of loans as needed.
  • Provide support and input to Portfolio Manager in an ongoing capacity.
  • Review and approve loan draw requests.

Program Management

  • Participate in new loan program development, designs and proposes programmatic guidelines and parameters.
  • Assist in preparation of financing and grant applications.
  • Manage relationships with program sponsors, funders and contracting entities.
  • Compile monthly, quarterly and annual reports to funding agencies as required.

Other activities as needed and directed by supervisor.

3. Core Competencies

  • Analytical skills, risk assessment, organizational skills and attention to detail.
  • Concise and well-structured writing skills, and effective presentation skills.
  • Ability to work independently and to collaborate with a team.
  • Strong interpersonal skills, able to communicate effectively in writing and speaking.
  • Computer competencies including Office 365, especially Excel and Word skills, and ability to learn other software applications. Salesforce experience highly desirable.
  • Ability to handle multiple tasks and to operate productively without extensive supervision.
  • Excellent problem-solving abilities
  • Commitment to clear, detailed, service-oriented communication with borrowers and C4C colleagues.
  • Commitment to equitable community development and the core mission of C4C.
  • Effective management skills
  • Knowledge of public and private resources available to leverage C4C’s loan products highly desirable.

4. Required Experience & Certifications

Education & Experience

  • Bachelor’s degree or equivalent experience in relevant field, i.e., real estate, finance, urban planning, or business, MBA highly desirable. .
  • Minimum five years of loan underwriting experience at a CDFI, bank or other financial institution related to affordable housing development, and commercial and housing real estate construction.
  • Understanding of and experience with community development lending and public and private sector funding sources
  • Grant writing experience preferred.


  • Commercial credit training desirable
Capital for Change (C4C)

About Capital for Change (C4C):

Founded in 2016, our nonprofit is the direct result of the merger of three established community development financial institutions (CDFI’s) with decades of combined experience. Capital for Change (C4C) has grown to be the largest full-service CDFI in Connecticut. With support from our community-minded investors and partners, we create high impact lending programs and products that help develop affordable housing, increase energy efficiency, and nurture small businesses and nonprofits.