In this interview, we were able to talk with Michelle about the ins and outs of being a loan officer and her story through the years. It was so great to chat with Michelle and hear her passion for helping small businesses and the local community by enabling funding to projects her and her team believe in.
Q: Tell us your name and official title within the organization your work for
A: My name is Michelle Beecher and I am the Loan Officer for the Rural Nevada Development Corporation
Q: How did you get involved in the space of CDFIs?
A: RNDC was already a CDFI when I began working here. They have been a certified CDFI since 1992. I started as the Administrative Assistant in March of 2015, moving to lending in July of that year.
Q: Describe (briefly) some of the major tasks of your job and who your typical client is.
A: I handle every aspect of the loan process at RNDC. I process the intake of new applications, do the underwriting of each file, present each case to the loan committee, handle all of the post-approval tasks like opening escrow, gathering insurance information, requesting loan documents and funds. I also handle all of the servicing of the loans after they are booked such as calling on delinquencies and requesting annual tax and insurance information.
Q: What is your favorite part about your job?
A: I love being a part of the economic growth of rural Nevada. So many of the state’s resources are taken up by Las Vegas and Reno, the rurals are often forgotten, however, we are a HUGE part of the state. I have a passion for rural Nevada and love to be a part of making it thrive.
Q: What are some tools / tips / tricks you’ve picked up over time that help you reach more borrowers / do your work more efficiently?
A: Make checklists for your different processes so you don’t forget anything.
Q: What are the biggest challenges you see borrowers face?
A: Our borrowers face a unique obstacle in that they are in rural areas. This means banks are reluctant to lend in these areas and don’t typically understand the business climate. This is what makes our organization so important. We have a staff and loan committee made up of people who are from these areas and understand what the needs of the communities are.
Q: What is something you wish more applicants knew about?
A: Hmm. This is a hard one. Maybe that there are many resources out there available to them for assistance. They have the tough job of managing and running a business, sometimes it’s hard to keep everything straight; budgeting, marketing, staffing, etc. It is very often advantageous to reach out to organizations like their local Small Business Development Center for help with aspects of their business that they might not have a firm grasp on.
Q: How do you want to see the space of CDFIs change in the next 5 years?
A: Oh, I don’t know about any changes I’d like to see specifically. I guess I’d just like to see as many people get assistance as possible. Just keep getting as much funding as possible out to as many businesses that need it!
Q: Anything else to add about being a loan officer?
A: This is fun stuff and I absolutely love it! It is so fulfilling to help so many people and have such fun, awesome success stories. All the hard work and craziness is definitely worth it.
We hope you enjoyed diving into this conversation as much as we did! If you are curious to learn more about how Presta works with lenders to streamline their process in our all-in-one lending solution, please reach out or book a call below! We’re excited to hear from you.