Program Officer, Lending

Position Description

LISC seeks a Program Officer, Lending & Underwriting to serve as a strategic leader in the origination, underwriting, and deployment of community development financing in the LISC Illinois program office. This role is responsible for sourcing, structuring, underwriting, and closing loans in Illinois that advance community development initiatives and support LISC’s mission of strengthening neighborhoods and expanding economic opportunities.

The ideal candidate brings expertise in commercial real estate lending, credit analysis, and transaction structuring, coupled with exceptional attention to detail, strong relationship management skills, and a customer-centered approach. The Program Officer will provide outreach, technical assistance, and underwriting for a broad range of community development projects and asset classes, serving as a trusted advisor to borrowers and partners throughout the lending process.

Working closely with LISC Illinois program office staff and LISC’s National Lending and Legal teams, this position will manage the full lifecycle of lending transactions in Illinois, from business development and underwriting through closing and portfolio support. The role requires strong project management skills, the ability to balance multiple priorities and deadlines, and a commitment to advancing impactful community investment strategies.

This is a hybrid position based in LISC’s Chicago office and reports directly to the Deputy Director of the LISC Illinois Program Office.

Responsibilities

• Serve as the primary underwriter for Illinois-based loan transactions, working closely with borrowers to structure financing solutions that meet project and organizational needs.
• Support business development efforts for LISC lending activities in Illinois, including outreach, borrower education, and relationship management to cultivate and maintain a strong pipeline of lending opportunities.
• Conduct comprehensive due diligence, financial analysis, and risk assessments, including review of organizational financial statements, development budgets, sources and uses, and operating pro formas.
• Prepare clear and comprehensive credit memoranda and underwriting recommendations for internal review and approval.
• Present loan opportunities and recommendations as part of LISC’s credit review process and respond to questions regarding transaction structure, risk, and impact.
• Work with national LISC Lending and Legal staff to manage timely loan closings, including coordinating the preparation of commitment letters, negotiating key business terms, and reviewing due diligence items and loan documents for consistency with key business terms
• Collaborate with local program staff, national lending colleagues, and community partners to design and implement lending initiatives that address community development priorities.
• Provide technical assistance and capacity-building support to nonprofit and community development partners, helping position organizations for successful project execution and access to capital.
• Stay informed on market trends, public financing tools, tax credit programs, and other community development resources relevant to LISC’s lending activities.
• Represent LISC at conferences, trainings, and events.
• Perform other duties and special projects as assigned.

Qualifications

• Bachelor’s degree from an accredited college or university required; advanced degree in finance, real estate, urban planning, public administration, business, or a related field preferred.
• Minimum of 5 years of experience in commercial real estate lending, community development finance, credit analysis, underwriting, or a related field at a financial institution, nonprofit lender, government agency, or similar organization.
• Demonstrated experience structuring and underwriting complex real estate and community development transactions.
• Strong financial analysis skills, including the ability to evaluate financial statements, project development budgets, cash flow projections, and operating pro formas.
• Knowledge of community development finance tools, including public subsidies, tax credit programs, and other layered financing structures.
• Proficiency in Microsoft Office Suite, particularly advanced Excel skills.
• Exceptional written, verbal, and presentation skills, including the ability to communicate complex financial concepts to diverse audiences.
• Strong organizational and project management skills, with the ability to manage multiple transactions simultaneously and meet deadlines in a fast-paced environment.
• Demonstrated ability to work independently while collaborating effectively across multidisciplinary teams.
• Relationship-building and business development experience.
• Strong customer service orientation and consultative approach with borrowers and partners.
• Knowledge of Illinois community development markets and stakeholders.
• Ability to navigate ambiguity, solve problems creatively, and exercise sound judgment in complex transactions.

COMPENSATION

LISC offers a competitive salary ($84,000-$105,000) and excellent fringe benefits.