We’re hiring!

LOAN OFFICER

PLEASE NOTE: HFLS is currently operating remotely and will continue to do so until at least 2021, at which time we will assess whether to introduce a staggered, part-time in-office schedule with safety precautions required. All decisions will prioritize the health and safety of our staff. The hiring process for this position will be conducted entirely by email, phone, and Zoom.

The Organization

The Hebrew Free Loan Society (HFLS) fosters financial stability and opportunity among low- and moderate-income New Yorkers by providing access to safe, affordable credit in the form of 0%-interest loans. HFLS is a nonsectarian lender, making loans based on need to borrowers of all backgrounds.

Founded in 1892 by immigrants on Manhattan’s Lower East Side, HFLS has provided over $300 million to more than 875,000 borrowers. Currently HFLS provides approximately $20 million per year in interest-free loans to more than 1,300 borrowers. We are not the only microfinance organization in New York, but our model is one-of-a-kind: We are the only microlender providing an array of interest-free loans to low- and moderate-income borrowers.

HFLS maintains a 99.9% repayment rate, the result of a unique lending model that relies on guarantors to prevent default. As our loans are repaid, the capital is lent out again and again, helping more people and multiplying our impact over time.

HFLS is growing rapidly: We have more than doubled our lending in just five years, and we are now seeing a massive increase in the need for safe, affordable credit as a result of the Coronavirus pandemic and related layoffs, furloughs, and business shutdowns. HFLS is hiring to fill new roles that are essential to our ability to maintain and increase our pace of growth, now and in the years ahead.

The Role

As part of a Loans Team consisting of four other Loan Officers, the Loan Officer will work with applicants and borrowers across a wide range of HFLS’s interest-free loan programs with the goal of providing safe, affordable credit to lower-income New Yorkers.

This is a full-time position reporting to the HFLS Deputy Director, based at the HFLS office located in midtown Manhattan (though HFLS is currently operating remotely and will continue doing so until further notice). The annual gross salary range is $55,000-$60,000 based on relevant skills and/or experience, with competitive benefits including health, vision, dental, and generous paid time off.

Primary Responsibilities:

• Review and track incoming loan applications
• Schedule and conduct loan interviews (currently by phone or Zoom) with applicants
• Collect and review all required documents from applicants and guarantors
• Process final loan paperwork and close loans in a timely manner
• Enter/update data in HFLS loan management and application tracking systems
• Respond to phone and email inquiries from applicants, guarantors, and borrowers
• Compile reports on loan and borrower data as needed
• Correspond via phone and email with partner organizations as needed

Education & Experience:

• At least two years of relevant professional experience in nonprofit programs, social service, or administrative work, demonstrating progressive responsibility
• Experience with Salesforce a plus
• Bachelor’s degree preferred

NOTE: As a non-profit, interest-free lender, HFLS underwriting operates very differently from banks and other for-profit lenders; so while experience in lending, banking, or finance is welcome, it is not required or necessary for this position.

Skills & Qualifications:

• Passion for HFLS’s mission to foster economic stability and opportunity among lower-income New Yorkers
• Self-directed and a team player; able to function well independently and in a dynamic, collaborative environment
• High level of emotional intelligence and cultural sensitivity (HFLS serves a culturally and religiously diverse population, and many people who contact HFLS are facing difficult personal and financial situations)

• Strong verbal and written communication skills
• Excellent attention to detail
• Spanish language fluency a plus

To apply, please send a resume and cover letter to [email protected] with “[Your name]: “Loan Officer” in the subject line. Applications will be reviewed on a rolling basis.