We’re Hiring: New Economy Loan Fund Coordinator

New Economy Project’s mission is to build an economy that works for all, rooted in racial and social justice, cooperation, neighborhood equity, and ecological sustainability. We work with community groups to fight systemic racial wealth extraction and to promote cooperative, community-led development, through coalition organizing, legal and policy advocacy, community education and training, applied research, and other strategies. Our core campaigns focus on advancing community land trusts, public banking, and community wealth-building in low-income Black, brown and immigrant neighborhoods in New York City.

New Economy Project seeks an energetic and experienced Coordinator for our New Economy Loan Fund, an emerging community development financial institution (CDFI) that provides strategic, low-cost loans to worker and consumer cooperatives, community solar projects, community land trusts, and other initiatives that advance economic and environmental justice in NYC. The Loan Fund is at an exciting stage of growth. The Coordinator will work with community partners and an advisory board to identify funding needs and gaps, expand our lending and technical assistance capacity, and strengthen community ownership initiatives across the city.

This is a new position at the organization and an exciting opportunity to contribute to NYC’s growing solidarity economy movement.

CORE RESPONSIBILITIES

  • Conduct outreach to publicize the Loan Fund, and meet one-on-one with community groups, cooperatives, community land trusts, and other prospective borrowers.
  • Formalize policies and criteria for predevelopment, working capital, and other strategic loans.
  • Partner with mission-aligned lenders and technical assistance providers to support and expand financing to community land trusts and other solidarity economy initiatives.
  • Serve as the primary point of contact for borrowers, from inquiry and application through loan closing and repayment, and manage tracking and reporting for the Loan Fund.

EXPERIENCE AND QUALIFICATIONS

  • At least five years of professional experience in community development or related fields, with a strong track record of success.
  • At least three years of loan underwriting experience, preferably in NYC and related to small business, commercial, solar, or affordable housing development.
  • Demonstrated commitment to racial, economic, and gender justice, and to building power of poor and working people.
  • Proficiency with financial concepts, including reading and interpreting financial statements and analyzing repayment capacity.
  • Excellent communication, time-management, and problem-solving skills.
  • Familiarity with worker cooperatives, community land trusts, community solar, and/or other solidarity economy initiatives.
  • Fluency in Spanish a plus.

We will consider a candidate’s full range of educational, professional, and life experience. We do not require any specific level of formal educational attainment.

COMPENSATION
Salary is competitive and commensurate with experience, with an expected annual salary range between $68,000 and $90,000. New Economy Project offers a comprehensive benefits package that includes health, dental, and vision insurance, 403(b) and flexible spending plans, and generous paid time off, including summer Fridays and a three-month sabbatical after five years.

LOCATION
New Economy Project’s office is located at 121 West 27th Street in Manhattan. The position will be hybrid, with at least two days of in person work and some local travel required. Full COVID-19 vaccination is required for all staff.

TO APPLY
Please submit your resume and a brief cover letter as one PDF document to: hiring@neweconomynyc.org, with “Loan Fund Coordinator” in the subject line. Indicate in your cover letter: (a) your interest in and qualifications for the position; (b) how you learned about this job posting; and (c) how our work aligns with your values.

New Economy Project is an Equal Opportunity employer committed to a diverse workplace and to providing staff with ongoing professional development opportunities. We actively recruit and encourage people of color, women, people with disabilities, LGBTQ people, immigrants, and people from low-income backgrounds to apply.