Title: Business Advisor: MCCD’s Open to Business Initiative
Salary Range: $60,000 to $70,000
Department: Small Business Development
Hours: Full-time, 40 Hours
Reports to: Director of Small Business Development
Organization Overview: MCCD’s mission is “to work collectively to build strong stable communities by leveraging resources for the development of people and places.”
Initiative Overview: MCCD is a Community Development Financial Institution (CDFI) and has been the sole association of community-based, nonprofit development organizations working across the Twin Cities area. In partnership with the seven Metro-area counties, MCCD’s Open to Business program (O2B) supports entrepreneurs at all stages of business development and growth. O2B provides free 1-on-1 technical assistance and access to capital to emerging entrepreneurs who are unable to access the commercial banking system. The program’s core constituencies include Black, Indigenous and People of Color (BIPOC), low-wealth residents, and other groups which often struggle to access traditional capital markets. The program’s core constituencies include communities of color and low-income residents, populations which often struggle to access traditional capital markets.
POSITION SUMMARY: The Business Advisor will provide information, referrals and direct technical assistance to current and prospective entrepreneurs to help start, improve or expand a small business, along with providing assistance in obtaining business financing, including underwriting potential loans. Advisor will work with the entrepreneur to identify areas of need and opportunity, and to formulate and implement solutions. Assistance can include general business planning, development of financial projections, feasibility review, market identification, regulatory compliance, and development of administrative, financial, and operational systems.
- Respond to client inquires in assigned geography, or as assigned.
- Meet one on one with clients to identify their needs.
- Serve as an independent sounding board for the entrepreneur; helping clients to clarify goals and identify next steps.
- Assist clients over time- at their request- in exploring, developing, launching, and growing a small business venture
- Provide direct training/assistance where appropriate; make referrals to additional training and resources when necessary.
- Maintain client confidentiality.
- Collect, update, and maintain basic client information, including number of clients, hours, nature of assistance, financing, and certain demographic data.
- ·Assist potential borrowers in completing application materials and gathering required documents
- ·Review requests for program fit, need, and "bankability"; identify and propose funding models appropriate to client needs, including MCCD programs, non-profit and governmental partners, and traditional commercial funding sources
- ·Where appropriate draft loan reports outlining the strengths and weaknesses of a request, analyzing the client's request, their business acumen, historical and projected operating results, credit, collateral, and ability to repay proposed debt.
- · Present loan packages to MCCD loan committee for approval
- · Assist in gathering of follow-up information and documents for closing of approved loans
- · Conduct post-loan technical assistance with borrowers; gather periodic business information for review and reporting purposes
- · Assist in work-out and collection activities when necessary
Assets of most interest include the following:
- 3-5 years relevant experience in small business development or financing; demonstrated experience working in the small business sector (e.g. business technical assistance provider, business owner, sales)
- Knowledge and experience working with employee-owned cooperatives a plus.
- 3+ years’ experience working in partnerships and collaborations across-sectors and with multiple partners.
- Capacity to work cross-culturally to achieve understanding and results. Ability to establish and maintain trust readily with a diverse set of partners.
- Excellent oral and written communications skills.
- Competent computer skills including Microsoft Office programs (Excel, Word, and PowerPoint). Design skills a plus.
- Must have reliable transportation.
KNOWLEDGE AND SKILLS:
- Experience in direct underwriting and/or lending
MCCD IS AN EQUAL OPPORTUNITY EMPLOYER
Black, Indigenous, People of Color (BIPOC) and LGBTQIA+ individuals are strongly encouraged to apply.
MCCD offers competitive compensation commensurate with experience. We are committed to the personal and professional growth of all staff. MCCD offers a comprehensive benefits package that includes health insurance; MCCD covers the cost for the employee, and offers a 403b match.
No phone calls.