Job Locations US-NY-New York
Regular Full-Time


Renaissance Economic Development Corporation (REDC), a subsidiary of Asian Americans for Equality, Inc. ( is a non-profit organization dedicated to providing financial and technical assistance services to entrepreneurs throughout New York City. Renaissance focuses on low-income, immigrant neighborhoods where the barriers of language, culture and conventional loan underwriting have stymied the growth of small businesses. Renaissance’s lending activities are guided by a commitment to increase business opportunities for low-income, minority, women, and immigrant entrepreneurs. As a US Department of Treasury-Certified Community Development Financial Institution (CDFI) and a designated US Small Business Administration (SBA) Microlender and Community Advantage lender, Renaissance offers short and intermediate term loans to entrepreneurs who need to grow or launch new businesses. Renaissance also provides financial literacy services and comprehensive technical assistance to small business owners and entrepreneurs each year through individual counseling and classroom sessions.



Reporting to the Portfolio Manager, the Loan Servicing Associate’s responsibilities include providing post-closing technical assistance to clients with payment issues and the servicing/collections of the loan portfolio for REDC.


  • Process borrower(s)’ loan checks and/or ACH payments on a monthly basis and record payments received or record missed payments in the appropriate systems. 
  • Perform loan maintenance, loan research and payment processing as required.
  • Generate and maintain daily work queue and create and utilize reports to track and report delinquency data monthly/quarterly/annually
  • Generate and maintain monthly funder reports i.e.: SBA, Federal Reserve Bank, CDFI. 
  • Answer telephone and email inquiries concerning delinquent accounts and provide counseling to borrowers. 
  • Speak to borrowers to determine reason for delinquency,  evaluate the borrowers' financial status and determine terms of repayment to bring the loan account(s) current. Must maintain quality and accuracy for compliance and propose loss mitigation solutions as appropriate.
  • Research and audit borrower records to determine missed payments and/or possible discrepancies when necessary.
  • Update loan files, supply information from loan files, send files for scanning, index & audit documents, maintain security of borrower loan files to specified guidelines and obtain paper or digital copies for management, auditors or collections attorney. 
  • Responsible for UCC lien filings, keeping record of lien filings and renewing/terminating of lien filings when necessary. Issue lien releases when one is requested after verification the loan has been satisfied.
  • Perform a variety of operational duties and functions within the Loan Portfolio department including but not limited to new account boarding, monetary and nonmonetary transaction posting, documentation review, document scanning and indexing, document archival and retrieval, paid loan processing. 
  • Coordinate with Post Closing team and Portfolio team on the treatment of nonperforming loans, ensuring loan systems are accurately maintained and updated in response to direction from Portfolio Management.
  • Open and process all mail sent to the Loan Servicing Department on a daily basis.
  • On a daily basis review the Loan Servicing email account and respond to borrower(s) or staff inquiries.
  • Inform borrowers of payoffs or charge offs. 
  • Send delinquency notices to borrowers and record these notices in the appropriate system 
  • Assist with loan modifications when borrower(s) are unable to maintain payment according to current loan terms. 
  • Prepare and draft loan closing documents for Portfolio Management to review
  • Communicate with borrowers and insurance agents to verify and/or update the status of loan insurance for the purpose of establishing proof of insurance.
  • Adhere to all REDC Credit policies, procedures, and regulatory agency requirements. 
  • Participate in all required and recommended training and development including, but not limited to SBA lending and demonstrate attained knowledge. 
  • Participate on REDC teams, projects and strategic initiatives as needed. 
  • Perform additional duties and special projects as assigned
  • Responsible for regular and predictable attendance including punctuality.


  • Bachelor’s degree or any combination of High School degree or equivalent with any experience and training that demonstrates the ability to perform the job responsibilities.
  • Minimum of two (2) years loan collections experience in NYS
  • Strong analytical, verbal, written and interpersonal communication skills with the ability to present information to a diverse client base- specifically racially, ethnically and socially diverse.
  • Flexible and willing to work overtime time as needed.
  • Demonstrated experience in providing high-quality customer service.
  • Strong organizational skills with demonstrated attention to detail and focus.
  • Possess sound judgment, solid decision-making capabilities, persistence and follow-up as well as strong conflict resolution skills.
  • Ability to manage multiple tasks effectively and efficiently under minimal supervision
  • Excellent computer skills, including a high degree of proficiency in Microsoft Office Suite and Google Suite
  • Working knowledge of Down-Home Loan Management System is a plus.
  • Bilingual/Fluency in English/Chinese, English/Korean or English/Spanish language is highly desirable
  • Must be able to maintain confidentiality of sensitive materials and information
  • Ability to prioritize and handle multiple complex projects with minimal supervision.



We believe that the people and the communities that we have the privilege to serve, deserve our very best every day.  We are a results-driven organization that focuses on inclusiveness, empowerment and impact. AAFE employees are accountable, collaborative and strong communicators with a core strength of community service and development.  We are strategic thinkers who are committed to racial equality and treating each other, and the communities we serve, with respect and dignity.  We have an aptitude for technology and a strong desire to continuously learn. This philosophy expands to the way we manage our work and the way we put our best foot forward.  All employees are expected to adhere to the following:  


  • Ensure compliance with all grant/contract requirements
  • Work as part of a team in supporting other programs and projects 
  • Provide quality customer service to both internal and external partners and co-workers. 
  • Support efforts that ensure a safe and healthy work environment.
  • Understand and embrace the value in collaborating with people of different cultures, races, genders, ethnicities, beliefs, experiences and ideas.
  • An understanding of the concepts of institutional and structural racism and bias and their impact on underserved and underrepresented communities.
  • Maintain a positive, helpful attitude.
  • Enjoy your time at work!



REDC offers generous paid time off, rich benefits, including but not limited to, medical, dental, vision, 403(b) with company match, group term life insurance, short-term and long-term disability and host of other voluntary benefits.  In addition, we offer employee recognition, opportunities for professional growth and competitive salaries.  Salary offers will be based on the candidate’s experience in similar roles between a range of $40,000/yr-$48,000/yr ($21.98/hr-$26.38).  


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