Specifications include, but are not limited to: • Assume responsibility for managing a total of $8 million micro loan and growth loan funds and a fund up to $900,000 for credit enhancements • Establish a revolving loan fund for credit enhancements • Provide loans with competitive rates and flexible terms for eligible small businesses through an equitable underwriting process and prioritize minority and/or women-owned enterprises • Manage all aspects of the lending process, including loan and applicant evaluation, due diligence, credit analysis, underwriting and lending terms, loan closing, and servicing (including maintaining security interests of collateral), that is mindful of traditional barriers M/WBEs experience when attempting to access capital in the marketplace • Managing loan repayments, loan delinquencies and/or foreclosures. Develop a detailed policy for managing loan defaults that address safeguards that can be utilized to limit the impact on the RLF program in the case of default • Manage a loan review committee and create Revolving Loan Fund policy guidelines with Harris County’s input • Provide technical assistance to all loan recipients o Provide loan-specific capacity-building support to the small businesses receiving funds • Marketing and outreach efforts to increase awareness about the program. Outreach plans should include details on strategies to reach targeted communities o Create an online application portal to ensure easy access o Develop content and coordinate necessary approvals for promotional materials • Provide semiannual financial reports for the Fund. Report on the status of the loan portfolio, including Key Performance Indicators (KPIs), a portfolio loan recipient list and success stories.
