Location: Chicago, IL, US, 60661
Job Requisition ID: 20686
Agency : Department of Commerce and Economic Opportunity
Closing Date/Time: 12/19/2022
Salary: $5,426.00 - $7,827.00 Anticipated Monthly Starting Salary
Job Type: Salaried Full Time
County: Cook
Number of Vacancies: 2
All applicants who want to be considered for this position MUST apply electronically through the illinois.jobs2web.com website. State of Illinois employees should click the link near the top left to apply through the SuccessFactors employee career portal.
About the Position
The Business Development bureau manages a number of exciting economic development, business attraction and retention programs to assist large and small businesses in Illinois. Currently the Business Development bureau is expecting a significant increase in funds to promote loan guarantee and loan participation programs. This role will help to provide low cost capital loans to eligible business in Illinois that will create new jobs. We welcome eligible candidates to apply and join us in our goals to help provide equitable and fair access to capital to businesses all over Illinois.
Job Responsibilities
1. Evaluates the eligibility of credit proposals submitted to the Department.
2. Assists in the preparation and administration of loan enrollments following the policy and procedures under the Office of Business Development, Business Finance Division.
3. Assists in monitoring and obtaining loan repayment information and ensuring compliance with contract terms from lenders, loan recipients and their owners, managers, and guarantors.
4. Assists in recommending policy and procedures for business development loans to improve the operation of the program.
5. Provide technical assistance to and maintain professional working relationships with various governmental and community based organizations, financial service institutions, the business community and other department units, to identify the reasonable utilization of the State and other economic development programs and resources.
6. Prepares and makes presentations explaining the concepts and mechanics of the business development financing programs to lending institutions, chambers of commerce, professional and other groups.
7. Provides training and ongoing leadership to beginning level and less experience staff.
8. Performs other duties as required or assigned which are reasonably within the scope of the duties enumerated above.
Minimum Qualifications
1. Requires knowledge, skill, and mental development equivalent to completion of four (4) years of college with concentration in one or more of the following fields: industrial development, business administration, economic geography, marketing or economic, preferably in economics or related fields; appropriate business experience may be substituted for a college on a year-for-year basis.
2. Requires two (2) years of professional experience in the field of industrial and/or community economic development.
Preferred Qualifications
1. Prefer two years of experience in grant/loan administration.
2. Prefer two years previous experience managing loans, preparing underwriting documentation and engaging with financial institutions
3. Prefer one or more years of experience preparing written and oral reports.
4. Prefer one year of descriptive data analysis experience, can include managing reports and aggregating information to improve programs.
Conditions of Employment
1. Requires a valid driver's license to meet the travel requirements of this position.
2. Requires ability to travel.
3. Requires ability to pass a background check.
Work Hours: MONDAY - FRIDAY 8:30 AM - 5:00 PM
Work Location: OFFICE OF BUSINESS DEVELOPMENT 555 West Monroe Street Chicago IL 60661
Agency Contact: CEO.HR@illinois.gov (FOR INQURIES ONLY – INTERESTED APPLICANTS MUST APPLY ONLINE)
Job Family: Fiscal/Finance/Business