Loan Officer
(Community-Owned Solar Projects)
Position Overview
Position: Full Time Exempt Employee
Compensation: $75,000-$82,500 full-time annual (commensurate with experience)
Location: Remote (with occasional travel for PSEF Staff and Member program events)
Application Deadline: November 15, 2024 (or until filled)
Start Date: Projected early January 2025
Reports: PSEF’s Executive Director (working closely with Loan Fund Manager)
ABOUT PSEF
The People’s Solar Energy Fund is an innovative member-organized nonprofit working to advance energy democracy by supporting the development and scaling of community-led and community-owned clean energy projects. Primarily focused on supporting frontline low-income, Black, Indigenous and Communities of Color throughout the development process. PSEF serves as a resource commons where community-based solar developers can access project capital, technical assistance and shared services and be part of a learning community of project developers.
POSITION OVERVIEW
PSEF seeks a mission-aligned, experienced Loan Officer to support the operations of the organization’s growing loan portfolio. PSEF’s revolving loan fund is a dynamic resource geared at supporting community-based solar developers access finance for developing community-owned and community-led solar projects. The role offers an exciting opportunity for a creative thought-partner committed to implementing non-extractive lending practices to support the growth of community-owned solar projects in low-income and BIPOC communities. The Loan Officer will work with PSEF Members to identify their capital needs and support them from the technical assistance stage, through the loan application and approval process.
The Loan Officer will be responsible for originating and underwriting loans for PSEF’s Members, with duties including preparing credit memos and loan packages for presentation to the Credit Advisory Committee. Additionally, the Loan Officer will actively market PSEF’s loan products and programs to both current and aspiring members.
Responsibilities
Loan Structuring, Underwriting and Approval
- Contribute to PSEF’s objectives by identifying new opportunities and originating loans.
- Assess prospective lending opportunities to ensure they align with PSEFs mission, target markets, and underwriting/credit criteria.
- Review loan application materials, including third-party due diligence reports, including appraisals, market assessments, zoning classifications, and environmental reports to evaluate viability and determine appropriate loan structure.
- Assist in the preparation of comprehensive loan packages for review and approval by the Credit Advisory Committee.
- Draft credit memos to share with the Executive Director and Loan Fund Manager offering guidance and recommendations before submission to the Credit Advisory Committee.
- Engage in responsive and creative problem-solving, working closely with team members to ensure smooth progress of transactions.
- Collaborate with the Technical Assistance Program Manager to assist members from TA to the lending stage.
- Collaborate with the Executive Director and the Loan Fund Manager in the structuring and negotiation of transactions.
- Orient TA and other staff to PSEF’s financial products, lending policies and processes.
- Provide guidance on loan terms, products, and underwriting standards.
- Act as primary point of contact for PSEF member organizations seeking capital support.
- Build and maintain strong relationships with a network of community-based solar developers, aligned loan funds and other key stakeholders.
- Assist member organizations in engaging local communities and ensuring inclusive participation in the planning and ownership of solar projects.
- Stay informed on non-extractive, inclusive lending practices, community solar policies and PSEF offerings.
- Assist in stakeholder reporting and the development of reports on PSEF lending approach and activities.
Qualifications
Education
- Bachelor’s degree, with a major in Finance, Economics, Business Administration or substantially similar major is required.
Experience and Skills
- A minimum of three (3) years (ideally 5) in underwriting, credit analysis, or related roles in a financial institution, community capital lender or CDFI, with significant experience in economic development and/or community development lending.
- Demonstrated grounding in racial, environmental and/or economic justice and practices of cooperative development, active listening, participatory process and community empowerment.
- Strong organizational and project management abilities, with attention to detail and a results-oriented mindset.
- Strong understanding of underwriting principles, inclusive credit risk assessment methodologies, and regulatory requirements.
- Excellent communication and presentation skills, with the ability to clearly and engagingly convey complex concepts.
- Proven ability to vet and assess project feasibility, structure financing, and recommend favorable financing sources for PSEF’s Members.
- Demonstrated ability to work enthusiastically and effectively with diverse teams, individuals, and other mission-aligned financial institutions fostering a collaborative and inclusive environment.
- Strong ability to mentor and coach members.
Knowledge
- Familiarity with environmental justice work and ability to work under a Just Transition framework; relevant work or volunteer experience preferred.
- Working knowledge of the different developments pertaining to Solar for All and the Greenhouse Gas Reduction Funds programs, as well as other related programs.
Other
- Please note that while this position is remote, applicants must reside in and be authorized to work in the United States.
Additional Info
Benefits
PSEF offers a competitive salary and a comprehensive benefits package, including medical, dental, and vision insurance, generous paid time off, retirement savings plans with employer contributions, and opportunities for professional growth.
Equal Opportunity / Diversity
PSEF is an equal opportunity employer committed to building an open, inclusive and affirming work environment that reflects the rich diversity of the communities our members serve. All qualified applicants are encouraged to apply and will receive consideration for employment without regard to race, religion, color, national origin, age, sex, sexual orientation, disability status, or any other characteristic protected by applicable law.