NewTown Macon, Macon, GA
Job Title: Executive Director, NewTown Loans, LLC
Salary: $95,000.00 per annum plus benefits
Benefits: 14 paid holidays, 20 days of paid time off (PTO), one work from home day per week, flexible work schedule, health insurance (employer pays 80% of premium for employee, 67% for employee and dependents), short- & long-term disability, 6% retirement match 401k, business cell phone, annual opportunities for professional development and training
Application deadline: 5pm on Wednesday, October 5, 2022
Start date: Immediately
Office Hours: Monday through Friday, 9am to 5pm (one remote work day per week), subject to change
About NewTown Macon
NewTown Macon, Inc., a 501©3 non-profit organization, is the driving force behind revitalization in downtown Macon, Georgia. NewTown is one of the most dynamic, comprehensive, and innovative revitalization non-profits in the country. Formed in 1996, NewTown has leveraged more than $800 million of investment in the urban core during its existence. NewTown’s mission is to “attract, leverage, and invest in self-sustaining transformation” in downtown Macon by increasing the number of residents living in downtown, growing jobs, creating a sense of place, and advocating for progress.
NewTown is a small office where professionals manage their own time independently within their area of responsibility. Employees must be self-motivated problem solvers and must deploy their skills and abilities to bolster their colleagues, contribute to the success of the organization as a whole and fulfill our mission. Because the staff is small, tasks and projects shift across job descriptions fluidly as we encounter new opportunities and challenges.
To learn more about NewTown, visit www.newtownmacon.com.
The Executive Director of NewTown Loans is a full-time, senior-level, leadership position responsible for fulfilling our mission to revitalize Macon by equipping our citizens with education and financing to make successful investments in businesses and real estate. The successful employee will ensure that every entrepreneur and developer secures the knowledge and resources needed to build income and wealth, especially among underserved populations such as women and people of color. NewTown Loans functions as a department within NewTown Macon, grouping together our training and financing activities as Central Georgia’s first and only Community Development Financial Institution (CDFI).
This employee oversees a staff of three direct reports encompassing business development, loan underwriting, and portfolio management. Within Macon’s urban core, this staff conducts extensive group and one-on-one coaching, training and education courses to increase financial literacy. In addition, the staff solicits, underwrites, makes, and services small business and real estate development investments from $5,000 up to $3.5 million. The successful employee will oversee the deployment of $6.5 million annually in new loans through these products, building a successful portfolio of outstanding principal balances from $8 million to $20 million over the next several years. This position reports directly to the President and CEO, providing strategic advice, counsel, and insight as a senior leader of the organization. The Executive Director also works closely with NewTown’s thirteen other staff members and both the Board of Directors of NewTown Macon and the Board of Managers of NewTown Loans, the latter of which functions as a loan committee.
The successful employee will be deeply committed to increasing financial literacy and investment equity within Macon, developing a diverse and resilient cadre of businesses and developments that elevate and sustain downtown Macon as a city experience unparalleled in the South. The employee will be an excellent manager and coach, with a good sensibility regarding financial planning for real estate and business. The employee will also be able to communicate complex construction and real estate concepts and plans to staff and volunteers. This position requires an employee who is able to understand complex project finance, keep track of deadlines for concurrent projects, and maintain compliance for money NewTown borrows and lends. We are looking for a team member who brings professional skills in business, training, lending, and real estate and who can strengthen all aspects of our mission, especially developing new training opportunities and financial products to expand NewTown’s efficiency and impact.
- Bachelor’s degree required, in urban planning, construction management, entrepreneurship, business, historic preservation or a related field
- Five years of experience in a position with relevant responsibilities to this opportunity, OR a Master’s Degree in a closely related field
- Advanced computer literacy, including proficiency with Microsoft Office Suite
- Sophisticated financial analysis skills for business and real estate projects
Additional Preferred Qualifications:
- Five years of experience in a position with relevant responsibilities to this opportunity, AND a Master’s Degree in a closely related field
- Experience recruiting, sustaining and growing small businesses
- Previous experience working for a non-profit with similar functions
- Certification or academic experience in real estate finances and development (Historic Real Estate Finance Professional certification preferred)
- Academic or work experience in business development, historic preservation, economic development and/or urban revitalization
- Establish, cultivate, and adapt internal management policies, procedures, and tools to effectively and efficiently manage and grow NewTown’s revolving loan programs for lofts and businesses and scale the organization’s lending activity, including creating, instituting and managing policies, procedures and software tools to support these functions- 15% of job
- Manage the loan application process and finalize all loan packets for internal staff review or loan committee review as appropriate; coordinate with staff and legal counsel to close loans and develop workouts for distressed projects– 15% of job
- Develop loan committee meeting agendas and packets and oversee all monthly and special called meetings; oversee the generation of monthly and quarterly internal performance reports, including loan loss reserves- 15% of job
- Manage compliance with NewTown’s investors, legal restrictions, and government agencies by maintaining excellent internal records tracking borrower outcomes; produce reports, and generate statistics to complete grant reports and maintain CDFI certification- 15% of job
- Recruit, retain, coach, and train a talented set of professionals to provide training, make loans, and collect repayments- 10% of job
- Build and cultivate external relationships to support fundraising and loan production through individual relationships and public relations activities- 10% of job
- Conduct training, coaching, and technical assistance activities to support borrowers- 10% of job
- Provide counsel, advice, and strategic thinking to the President/CEO and CFO to ensure the success of NewTown in fulfilling its mission- 5% of job
- General administrative tasks and other assignments to support the office and management- 5% of job
Fiscal Year Goals:
- Close $4,500,000 in commercial real estate loans and equity investments
- Close $1,500,000 in residential real estate loans
- Close $500,000 in small business loans
- Pilot a minimum of 3 new residential investment projects that address blight and/or affordable housing
- Implement improved loan closing policies (that will also save borrowers money)
- Have a meeting once a month with a contact who can refer business or residential loan candidates to NTL
To apply for this position, please email a cover letter, resume and contact information for three references to email@example.com before the application deadline listed above.