Loan Assistant

Compensation: $45000 to $65000 annual plus excellent benefits

*** This position full-time and ON-SITE in our DTLA office***

ORGANIZATION BACKGROUND

PACE is local community nonprofit organization founded in 1976 to provide job training and placement services for the Asian Pacific Islander communities in Los Angeles. PACE has since expanded into a variety of service areas all tailored to meet the growing and changing needs of the multi-ethnic communities in Los Angeles County. Now in addition to job training and employment services significant PACE programs encompass: Business Development; Early Childhood Education (Head Start); Financial Education and Asset Building; Housing and Rehabilitation Services; Weatherization and Energy-conservation programs; and Affordable Housing Development. PACE serves more than 40000 people each year with our wide scope of services with approximately 350 staff. PACE is recognized as a leader in addressing problems of poverty and economic inequity in ethnic minority communities and has a reputation of being responsive to community needs and is known for creating innovative solutions to the myriad of challenges faced by our clients. Visit our website to learn more about our organization:

1) POSITION SUMMARY

PACE Finance Corporation (PFC) is seeking a motivated and enthusiastic LOAN ASSISTANT to join our Lending Team. Under the supervision and direction of the Loan Manager the Loan Assistant will support both front-end and back-end lending operations to ensure smooth timely and compliant administration of the organizations loan programs. The individual will assist in pre-screening loan applications organizing documentation and supporting underwriters during the intake and underwriting process. On the post-closing side the Loan Assistant will help maintain loan files track covenant servicing items and assist in borrower communication. This role requires close collaboration with other team members to ensure accuracy maintain compliance with lending policies and contribute to performance outcomes. The Loan Assistant may also engage directly with borrowers to gather required documentation and provide updates on loan status. This position offers an excellent opportunity for individuals looking to gain hands-on experience in community lending and loan operations while supporting the organizations mission to provide capital to underserved communities.

2) WORKING RELATIONSHIPS

• Reports to the Loan Manager and works under their direct guidance to support lending operations from application intake through post-loan servicing.
• Collaborates closely with the Credit Underwriter to ensure loan packages are complete properly organized and ready for underwriting review providing pre-screening support and following up on missing items.
• Supports Loan Counselors by tracking application status collecting borrower documentation and provide general assistance to ensure applications move smoothly through the pipeline.
• Works with the Loan Servicing and Closing Team to assist in verifying loan documents organizing executed loan files and maintaining accurate records throughout the loan lifecycle.
• Communicates with borrowers as needed to request missing information clarify loan requirements and provide timely updates on application closing or servicing status.
• Coordinates with other departments such as compliance or finance to support audits data entry and documentation requests related to lending activities.

3) MAJOR RESPONSIBILITIES & DUTIES

Front-End Loan Support (35%)

• Conduct initial pre-screening of loan applications to verify completeness identify missing documents and flag potential issues for the underwriters review.
• Assist in organizing borrower submissions and preparing loan intake packages.
• Enter borrower and loan data into loan management system accurately and promptly ensuring the application pipeline is up to date.
• Follow up with borrowers and loan counselors regarding outstanding documentation or clarification needed for underwriting.
• Maintain an organized intake tracking system and assist in prioritizing applications to support timely processing and responsiveness.

Post-Closing & Loan Servicing Support (35%)

• Ensure all executed loan documents are scanned named correctly and filed into the appropriate digital and physical folders for audit readiness.
• Maintain servicing records including payment records borrower correspondence insurance renewals and compliance tracking.
• Generate and distribute borrower notices such as payment reminders maturity letters and delinquency notices in coordination with the servicing team.
• Track post-loan compliance requirements (covenant tracking) and follow up with borrowers and loan counselors when documents or renewals are due.
• Support the team in organizing portfolio documentation for guarantee claims internal audits or external reviews as needed.

Administrative & Operational Support (20%)

• Maintain organized accurate loan files and folders ensuring alignment with internal policies and external audit standards.
• Assist with creating and updating internal tracking sheets dashboards or reports to monitor loan application status disbursements or servicing metrics.
• Provide general administrative support to underwriters counselors and the loan manager by preparing forms assembling closing packets and completing routine follow-up tasks.
• Respond to internal requests for document retrieval file summaries or reporting support as needed.

Other Duties as Assigned (10%)

• Support special projects system updates or process improvement initiatives as directed by the Loan Manager.
• Perform ad hoc tasks to ensure continuity of lending operations and support organizational goals.

4) QUALIFICATIONS EXPERIENCES & SKILLS

Education & Experience

• Relevant experience in loan operations administrative support or financial services preferably in a nonprofit CDFI or lending environment.
• Formal education such as an associate or bachelors degree in business finance or related field is a plus but not required.
• Familiarity with small business lending SBA loans or community-based financial programs is highly desirable.

Skills & Abilities

• Strong attention to detail and organizational skills.
• Proficiency in Microsoft Office Word Excel Outlook etc.
• Proficiency in customer relation management (CRM) software or loan management software preferred
• Excellent interpersonal verbal and written communication skills
• Ability to manage multiple tasks prioritize and meet deadlines
• Customer service mindset with the ability to work well with diverse borrowers and internal teams
• Bilingual skills highly desired

5) COMPENSATION & BENEFITS

• Pay range is $45000 to $60000 annual depending on experience
• Affordable and robust Medical Dental Vision and Life insurance plans for employee plus family with generous employer contributions
• 401(k) retirement plan
• PTO paid holidays and sick leave
• This position is on-site in our DTLA office

6) SPECIAL REQUIREMENTS

• Must pass employment and professional verification/reference check
• Must possess valid Drivers License and reliable transportation as local travel may be required on occasion
• COVID vaccination required; must have two-dose series of Pfizer or Moderna or a single-dose of Johnson & Johnson. Those that need a medical or religious exemption must reach out separately.

6) APPLICATION PROCESS

• All applicants MUST apply directly on our website by uploading a resume AND completing our online application to be considered: See link to apply: will be reviewed on a rolling basis until the position has been filled.

7) PHYSICAL DEMANDS
These physical demands represent the requirements necessary for an employee to successfully perform the essential functions of the Senior Servicing Specialist role. Reasonable accommodations can be made to enable individuals with disabilities to perform the described essential functions. While performing the responsibilities of this position the employee is regularly required to sit for extended periods talk and hear. The employee will frequently use their hands and fingers to operate a computer handle documents and perform data entry. The employee may occasionally be required to stand walk reach with arms and hands and lift or move items up to 25 lbs. Vision abilities required by this job include close vision for reading documents and working on a computer.

PACE Finance Corporation is a private not-for-profit corporation that provides employment small business assistance education housing and other community services in the Los Angeles County and County areas. PACE Finance Corporation is an equal opportunity and affirmative action employer.