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Initiative Capital seeks Director of Lending


The North Carolina Community Development Initiative Capital (‘Initiative Capital’ or ‘IC’) – a certified CDFI and subsidiary of the North Carolina Community Development Initiative (‘the Initiative’) – is seeking a leader to take it to the next level of scale and impact in helping low-income and minority community stakeholders in NC preserve and grow their assets.  Since 2012 Initiative Capital has:

  • Directly funded/assisted in developing/preserving 3708 units of affordable home-owned and rental housing;
  • Financed numerous high-impact community-based developers and social enterprises, such as the development of an African-American owned solar farm;
  • Successfully implemented a revolving NSP lending program, resulting in $6.7 million to finance the acquisition, rehabilitation and reuse of foreclosed homes across the state;
  • Purchased two portfolios of seasoned LIHTC permanent mortgages, totaling 76 loans and nearly $9 million;
  • Obtained access to a $10 million, 3% line of credit;
  • Secured a $1 million CDFI TA award; and
  • Received a $1 million grant through the Uplift America program to expand community facilities lending activities in rural communities.

Initiative Capital’s parent, the Initiative, was founded in 1993 to create a unique system of financial, technical and peer support for high-performing community based organizations and social enterprises across the state, focused on affordable housing, job creation and asset preservation. Initiative Capital is its lending/investment arm as well as a critical source for its operating sustainability.  Collectively, the Initiative and Initiative Capital have invested nearly $70 million in community-based developments that create economic opportunity in the state’s most distressed communities.

In 2015, the Initiative and Initiative Capital joined in a strategic alliance with the NC Housing Coalition and these three statewide organizations now work collectively to lead the work of the CED sector in North Carolina through a combination of capacity building, policy advocacy, and financing.  In addition to providing a new model for accelerating community change across NC, this strategic alliance promotes long-term sustainability by creating significant operating efficiencies. (For more information, see

Position Summary

Initiative Capital is positioned for a period of rapid growth and impact.  In this quarter, we are originating $4.4 million in new loans that will expand access to affordable housing, promote community revitalization, help a neighborhood guard against gentrification, and demonstrate new models of creative development finance.  We are seeking a leader with the vision, drive, discipline and creativity to build on this success and take the next quantum leap.

This position requires an individual who is strategic and hands-on, self-propelled and collaborative and skilled in building innovative products and institutional infrastructure. Reporting to Initiative Capital’s Board of Directors, the Director of Lending will work closely with the CEO of the Initiative.  This position will be based at Initiative Capital’s office in Raleigh NC.  Some in-state and out-of-state travel is required.

Specific responsibilities include:
Lead: Develop and execute Initiative Capital’s five-year business strategy to realize increased community impact, product diversification, lending growth and organizational sustainability.
Manage: Run the day-to-day operations including marketing and outreach, loan sourcing, underwriting, origination, servicing, technical assistance and evaluation.
Attract: Cultivate new partners and investors as well as prospect for loan opportunities through financial institutions, CED organizations, and intermediaries.
Comply: Develop, execute and continuously improve lending and investment policies, insuring compliance with all funding/financing sources.
Partner: Build and nurture strategic relationships with stakeholders and allies both in state and nationally.
Support: With the Initiative’s CEO, staff and steward Initiative Capital’s Board and Loan Committee.
Supervise: With a soon-to-be hired Loan Officer, provide oversight and professional development.


  • Commitment to and interest in Initiative Capital’s organizational mission – using the tools of a CDFI to achieve measurable, positive economic and social outcomes for low-income and minority families and communities across NC.
  • Bachelor’s degree in business administration, public policy, community development or related field; Master’s degree preferred.
  • 5+ years of experience in commercial lending, intermediary lending, CDFIs, a housing finance agency or analogous financial institutions.
  • Experience in the community development sector – as board, staff, investor and/or volunteer – is highly desired.
  • Fluency and experience in commercial and/or multi-family development lending.
  • Comfort with financial management, deal-making and providing TA to borrowers.
  • Facility with loan fund management software and all workplace productivity technology.
  • Experience with alternative business lending models and strategies are a plus.
  • Demonstrated excellence in organizational management with ability to supervise/coach staff, set and achieve strategic objectives and craft and manage a budget.
  • Strong presentation skills for both the Board and potential investors/partners.
  • Familiarity with North Carolina a plus.


Competitive salary and benefits plus substantial opportunities to grow professionally and scale a critical statewide CDFI.

How to Apply

Submit a cover letter and resume via email to by 5pm on Saturday, October 1, 2016.

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Successful conclusion to the Initiative’s 9th annual Youth Leadership Program