View Our Website View All Jobs

Construction Loan Manager

What We Do:

NFF works toward a more just and vibrant society through:

Financing that invests in missions. Our customized financing strengthens hardworking nonprofits and social enterprises.

Consulting that empowers leaders. Our experts equip you to make financial decisions that best serve your mission.

Partnering on big problems. Service providers, funders, and investors turn to us for new ways to collaboratively support stronger, fairer communities.

Learning that helps illuminate paths to solving complex social issues. Sharing experiences and expertise – from ideas to anecdotes to cutting-edge data and analysis – makes it easier.

Nonprofit Finance Fund® (NFF®) advances missions and social progress in underserved communities through financing, consulting, partnerships, and knowledge-sharing that empower leaders, organizations, and ideas. A leading Community Development Financial Institution (CDFI), NFF currently manages over $315 million. Since 1980, we have provided almost $700 million in financing and access to additional capital in support of over $2.3 billion in projects for thousands of organizations nationwide.

Position Summary:

The Financial Services team is seeking a Construction Loan Manager. As a member of a close-working team of professionals dedicated to sourcing, underwriting, closing, and managing a portfolio of loans and New Markets Tax Credit investments to nonprofit organizations and social enterprises, primarily in the health, education, and human services sectors, the Construction Loan Manager will be responsible for overseeing NFF’s national construction financing portfolio. The Construction Loan Manager will direct all facets of construction loan and project review, including construction due diligence review, disbursement, and monitoring, commencing at loan origination and underwriting, and continuing through construction completion and loan repayment or conversion. The Construction Loan Manager shall adhere to underwriting and portfolio management guidelines and processes, credit policies, and loan approval conditions, and implement and practice sound construction loan disbursement and risk mitigation strategies in order to prevent construction loan defaults and construction delays and overruns. The role requires strong technical knowledge of construction projects and facility financing, creative problem solving, and relationship and partnership development to succeed in mitigating construction risk at loan origination and maintaining the quality of the construction loan portfolio.

This is a national position to be located in one of NFF's five offices located in New York, Philadelphia, Boston, Oakland or Los Angeles. This position reports to the Director, Portfolio Management and receives general supervision from the Director, Portfolio Management and Vice President & Chief Credit Officer.

Primary Duties and Responsibilities:

  • Pre-Closing Due Diligence and Project Analysis:
    • Review and comment on project budgets, construction and architect contracts, project team qualifications (including architect, general contractor and owner’s representative licenses, credentials and capacity), property surveys, leases, purchase and sale agreements and other due diligence items to ensure the adequacy of the pre-closing construction risk analysis.
    • Order and review third party reports, including plan and cost reviews and environmental reports, and discuss any pertinent issues with the appropriate parties.
    • Work with Underwriters and Business Development staff to identify and mitigate construction-related risks, and discuss concerns with and propose solutions with borrowers, partner lenders, internal risk managers, and other parties.
  • Construction Loan Closing Review:
    • Work with In-House Counsel, Underwriters and Portfolio Managers to review, negotiate and approve relevant construction loan documentation to ensure adherence with underwriting guidelines, credit policies and credit approval conditions, such as loan agreements, disbursement agreements, contractor and architect assignments and consents, escrow instructions, closing draw documentation, title insurance commitments, payment and performance bonds and insurance.
    • Track and collect project-related post-closing construction deliverables.
  • Post-Closing Construction Management:
    • Collect and carefully analyze all construction-related documentation on active construction projects, including budgets, sources and uses, requisitions, change order logs, AIA forms, lien waivers, soft cost invoices, title documentation, site inspection reports, and other documents required under the loan documents, and maintain appropriate electronic files.
    • Review draw requests, change order approval requests, and budget reallocation requests for completeness, accuracy and compliance with the loan documents and funding budgets.
    • Create and maintain individual construction loan spreadsheets with approved budgets, funding criteria, loan allocations, draws and requisitions, interest reserves, and construction timelines for all projects.
    • During construction, monitor insurance coverage, real estate tax payments and absence of liens to ensure clean title, sufficiency of funds, project completion and issuance of certificates of completion and occupancy.
    • Coordinate the timely funding of construction loan advances, including loan participations.
    • Work with Portfolio Managers to review draw period and conversion date extensions, exceptions, and other construction-related borrower requests in accordance with NFF’s credit policies and risk management guidelines.
    • Identify critical risks, deficiencies and project setbacks, and work with Portfolio Managers to communicate with borrowers, project managers, engineers/inspectors, partner lenders, and other parties to address any concerns and resolve issues.
    • Regularly interact with Portfolio Managers on construction loan status, and report to the Director, Portfolio Management and Vice President & Chief Credit Officer on pertinent construction loan risks and portfolio performance.
  • Risk Management – Recommend, design and implement workflow, process and system improvements to appropriately monitor and mitigate construction-related risks on individual loans and on a portfolio basis, while increasing the team’s efficiency. Develop and implement internal policies and guidelines on construction lending.
  • Communication – Communicate with clients, project managers, contractors, engineers/third party vendors, and partner lenders on construction-related matters. Communicate and coordinate with Portfolio Managers, Underwriters, Business Development and other team members on the construction loan and portfolio performance and new business opportunities.
  • Relationship Management and Technical Assistance – Working closely with Business Development, Underwriters and Portfolio Managers, communicate with clients to evaluate their construction plan, budget, financing, team, and progress.  Develop appropriate solutions which meet client needs and protect NFF’s capital.
  • Training – Serve as a resource to NFF staff and provide training on construction loan policies, procedures, standards, administration and best practices.
  • Internal and External Relations – Maintain a culture of quality customer service at all points of contact with clients, colleagues, board and committee members, and other partners.
  • Reporting – Assist the Director of Portfolio Management in the collection and analysis of construction loan portfolio data for internal and external reporting.
  • Other Duties – Supports and contributes to a diverse range of Financial Service projects and initiatives.

Essential Requirements for Education and/or Experience:

  • Bachelor’s degree or equivalent experience required.
  • At least five years of direct commercial real estate loan closing, portfolio management and construction loan administration at a financial institution, such as a commercial bank or CDFI, or at least five years of direct construction project management and monitoring at a construction or engineering firm.
  • Strong technical expertise in construction projects and facility financing.
  • Excellent written and oral communications and interpersonal skills.
  • Strong project management, time-management, multi-tasking and organizational abilities.
  • Self-starter with the ability to work with limited supervision as well as collaborate with a close-knit group.
  • Ability to take initiative and focus on results.
  • Proficiency with Microsoft Office applications, including Word, Excel and PowerPoint.
  • Travel to local and out-of-state project sites to conduct site visits and attend construction inspections and meetings.

Specialized Knowledge/Beneficial Skills and Experience:

  • Understanding of the New Markets Tax Credit program.
  • Experience with Salesforce.
  • An openness to learning new skills and systems, with an entrepreneurial work ethic.
  • Demonstrated commitment to the nonprofit community.
  • Flexibility, creativity, and patience, with imagination, enthusiasm and a sense of humor.


All salaries are commensurate with experience and include an attractive benefits package.

Nonprofit Finance Fund is committed to diversity, equity and inclusion in its workforce.  Diverse candidates are encouraged to apply.

NFF is an equal opportunity employer and does not discriminate against any applicant or employee because of race, color, religion, sex, national origin, disability, genetic information, age, or military or veteran status in accordance with federal law. In addition, NFF complies with applicable state and local laws governing non-discrimination in employment in every jurisdiction in which it maintains facilities. NFF also provides reasonable accommodation to qualified individuals with disabilities in accordance with applicable laws.

This job posting provides a general list of the essential responsibilities and qualifications required for this position.  It does not represent a contract for employment and NFF reserves the right to change the description and/or posting at any time without notice.

When applying, please DO NOT include any of the following information with your job application: Social Security number; driver's license number or state-issued identification card number; financial account number, or credit or debit card number.


Read More

Apply for this position

Apply with Indeed
Attach resume as .pdf, .doc, .docx, .odt, .txt, or .rtf (limit 5MB) or Paste resume

Paste your resume here or Attach resume file

To comply with government Equal Employment Opportunity / Affirmative Action reporting regulations, we are requesting (but NOT requiring) that you enter this personal data. This information will not be used in connection with any employment decisions, and will be used solely as permitted by state and federal law. Your voluntary cooperation would be appreciated. Learn more.

Invitation for Job Applicants to Self-Identify as a U.S. Veteran
  • A “disabled veteran” is one of the following:
    • a veteran of the U.S. military, ground, naval or air service who is entitled to compensation (or who but for the receipt of military retired pay would be entitled to compensation) under laws administered by the Secretary of Veterans Affairs; or
    • a person who was discharged or released from active duty because of a service-connected disability.
  • A “recently separated veteran” means any veteran during the three-year period beginning on the date of such veteran's discharge or release from active duty in the U.S. military, ground, naval, or air service.
  • An “active duty wartime or campaign badge veteran” means a veteran who served on active duty in the U.S. military, ground, naval or air service during a war, or in a campaign or expedition for which a campaign badge has been authorized under the laws administered by the Department of Defense.
  • An “Armed forces service medal veteran” means a veteran who, while serving on active duty in the U.S. military, ground, naval or air service, participated in a United States military operation for which an Armed Forces service medal was awarded pursuant to Executive Order 12985.
Veteran status

Voluntary Self-Identification of Disability
Voluntary Self-Identification of Disability Form CC-305
OMB Control Number 1250-0005
Expires 1/31/2020
Why are you being asked to complete this form?

Because we do business with the government, we must reach out to, hire, and provide equal opportunity to qualified people with disabilities.i To help us measure how well we are doing, we are asking you to tell us if you have a disability or if you ever had a disability. Completing this form is voluntary, but we hope that you will choose to fill it out. If you are applying for a job, any answer you give will be kept private and will not be used against you in any way.

If you already work for us, your answer will not be used against you in any way. Because a person may become disabled at any time, we are required to ask all of our employees to update their information every five years. You may voluntarily self-identify as having a disability on this form without fear of any punishment because you did not identify as having a disability earlier.

How do I know if I have a disability?

You are considered to have a disability if you have a physical or mental impairment or medical condition that substantially limits a major life activity, or if you have a history or record of such an impairment or medical condition.

Disabilities include, but are not limited to:

  • Blindness
  • Deafness
  • Cancer
  • Diabetes
  • Epilepsy
  • Autism
  • Cerebral palsy
  • Schizophrenia
  • Muscular dystrophy
  • Bipolar disorder
  • Major depression
  • Multiple sclerosis (MS)
  • Missing limbs or partially missing limbs
  • Post-traumatic stress disorder (PTSD)
  • Obsessive compulsive disorder
  • Impairments requiring the use of a wheelchair
  • Intellectual disability (previously called mental retardation)
Please check one of the boxes below:

You must enter your name and date
Your Name Today's Date
Reasonable Accommodation Notice

Federal law requires employers to provide reasonable accommodation to qualified individuals with disabilities. Please tell us if you require a reasonable accommodation to apply for a job or to perform your job. Examples of reasonable accommodation include making a change to the application process or work procedures, providing documents in an alternate format, using a sign language interpreter, or using specialized equipment.

iSection 503 of the Rehabilitation Act of 1973, as amended. For more information about this form or the equal employment obligations of Federal contractors, visit the U.S. Department of Labor's Office of Federal Contract Compliance Programs (OFCCP) website at

PUBLIC BURDEN STATEMENT: According to the Paperwork Reduction Act of 1995 no persons are required to respond to a collection of information unless such collection displays a valid OMB control number. This survey should take about 5 minutes to complete.

Human Check*