Director, Small Business Lending

About Locus

Locus (formerly VCC Social Enterprises) partners with communities where the capital system is not working to ensure that everyone, no matter their background, location, or economic status, can live in healthy, thriving communities. A capital system that centers community input and impact is essential to making this a reality. Locus is a nonprofit holding company regulated by the Federal Reserve. Locus is the parent organization for a family of social enterprises, which includes Locus Bank, Locus Impact Fund, Locus Capital, and the Community Investment Guarantee Pool, or CIGP. Locus has generated over $2 billion dollars in total impact in local communities to create jobs, energize places, and promote an enhanced quality of life. With offices in Christiansburg and Richmond, Locus offers innovative and flexible financing tools and professional advisory services to individuals and organizations in low-to-moderate income and underserved communities. Locus Bank is an FDIC-insured, certified bank and B Corp offering products tailored to socially conscious investors, along with personal and business checking, savings, and certificate of deposit accounts. Locus Bank is a majority-owned subsidiary of Locus. Member FDIC. Equal Housing Lender. Learn more at

The Director of Small Business Lending will lead the development and management of the Locus Impact focused small business lending strategy. The Small Business Lending model includes a hybrid of direct lending in designated markets and lending with partners in markets where local CDFIs are engaged to deliver smaller loans and technical assistance to the borrowers.

Key Responsibilities:

• Strategic Leadership: Design, develop and implement our small business lending strategy with a focus on equitable lending in underserved communities to expand and enhance our small business lending portfolio, aligned with the mission and goals of Locus. This includes design and development of a technical assistance model for small businesses, both pre-application and post approval.
• Community Partnerships: The small business model will utilize community partnerships in some locales to enhance programs already doing technical assistance and smaller loans. The Director will design the partnership model – defining roles and responsibilities for Locus and the Community Partner, including financial and credit sharing guidelines.
• Team Management: Recruit, lead, mentor, and motivate a team of community development lending professionals, fostering a culture of excellence, collaboration, and customer service. The team should be representative of the communities we serve and should be able to balance sound credit with community impact, as defined by the credit risk parameters established and approved for the small business programs.
• Loan Portfolio Management: Manage or support, as needed, the full lifecycle of small business loans, including origination, underwriting, closing, and servicing. Ensure compliance with internal policies and external regulatory requirements. Develop technology tools to enhance work production and customer service in this segment. Use technology for both the direct lending and the partnership lending workflows.
• Business Development: Representing Locus as the Small Business Leader in various settings, including marketing and building Locus’s small business lending portfolio, developing new loan products based on market demand, and conducting proactive outreach to Banks, Economic Development officials, and Centers of Influence who might have possible lending opportunities.
• Financial Performance: Monitor and analyze the financial performance of the small business lending portfolio, including loan quality, profitability, and impact metrics. Manage internal budgets for the team and external grant resources for compliance. Work with the Director of Deposits to ensure deposit goals are met annually. Assist in developing programs and budgets for grant proposals supporting the Small Business market.

Qualifications:

• Proven experience and demonstrated leadership (10+ years) in a small business lending program (not microlending), preferably in a CDFI or financial institution focused on non-microlending small business community development.
• Strong leadership and management skills with a history of building and leading high-performing teams.
• Experience in developing and growing a new program, including the design of technologic tools to enhance workflow.
• In-depth knowledge of small business lending practices, community development credit enhancement programs, credit analysis, and risk management.
• Demonstrated understanding of working in underserved markets and with other community partners.
• Bachelor’s degree in Business Administration, Finance, Economics, or a related field. A master’s degree in business or a graduation certificate from a banking school is preferred.
• Excellent communication and interpersonal skills, with the ability to engage effectively with diverse stakeholders.

Compensation and Benefits

• $150,000 - $175,000 annual salary, depending on skills and experience
• 17-days of PTO per year
• 11-Paid holidays per year
• Medical, dental, vision, short- and long-term disability insurance
• 401k savings plan with employer match
• Life Insurance
• Hybrid Remote (candidates must live in Richmond, Norfolk or Northern Virginia area)

EEO Statement

Locus is an Equal Opportunity Employer. Locus does not discriminate in hiring or employment practices on the basis of race, color, religion, gender, age, sexual orientation, marital or family status, national origin, non-job-related disability, or status as a veteran.