Loan Program Manager

Job Requisition ID: 49442
Closing Date: 09/16/2025
​Agency:  Department of Commerce and Economic Opportunity
Class Title:  SENIOR PUBLIC SERVICE ADMINISTR - 40070 
Skill Option:  General Administration/Business Marketing/Labor/Personnel 
Bilingual Option:  None
Salary: Anticipated Starting Salary $9,174 - $10,062 Monthly
Job Type: Salaried
Category:  Full Time 
County: Cook
Number of Vacancies: 1
Bargaining Unit Code:  None
Merit Comp Code:  Term Appointment/ Agency

****A RESUME IS REQUIRED FOR THIS JOB POSTING****

Please attach a DETAILED Resume/Curriculum Vitae (CV), a copy of your transcripts or diploma for all degrees earned, and a copy of any applicable professional licensures to the MY DOCUMENTS section of your application. Please note that the Department of Commerce and Economic Opportunity must verify proof of higher education for any degree earned (if applicable) before any offer can be extended. You WILL NOT be considered for the position if you attach a CMS100, CMS100b or any other document in lieu of a Resume or CV.

Why Work for Illinois?

Working with the State of Illinois is a testament to the values of compassion, equity, and dedication that define our state. Whether you’re helping to improve schools, protect our natural resources, or support families in need, you’re part of something bigger—something that touches the lives of every person who calls Illinois home.

No matter what state career you’re looking for, we offer jobs that fit your life and your schedule—flexible jobs that provide the gold standard of benefits. Our employees can take advantage of various avenues to advance their careers and realize their dreams. Our top-tier benefits and great retirement packages can help you build a rewarding career and lasting future with the State of Illinois.

Position Overview

The Illinois Department of Commerce and Economic Opportunity (DCEO) is seeking to hire a Loan Program Manager to oversee DCEO's Advantage Illinois loan programs under the State Small Business Credit Initiative (SSBCI). The Office of Entrepreneurship, Innovation & Technology (OEIT) supports entrepreneurs through a variety of programs providing capital directly to small businesses. The Advantage Illinois Program comprises a Participation Loan Program (PLP) and a Loan Guarantee Program (LGP), which collaborate with approved lenders to offer financing to small businesses. The Advantage Illinois Program fills in gaps that prevent businesses from obtaining financing, such as equity and collateral shortfalls, credit concerns, or for new and rapidly growing businesses. With this program, the candidate will supervise staff, review and process loans, conduct meetings and outreach to small businesses and banks, and work with our financial team and DCEO's financial systems. This position will also work with multiple state agencies, departments, or offices. The candidate in this role will speak with bank officials and business owners throughout the State of Illinois. We invite qualified applicants to apply for the position of Loan Program Manager to manage DCEO's credit programs and help provide Illinois small businesses with access to capital.

Essential Functions

• Serves as the Loan Program Manager for the Illinois Department of Commerce and Economic Opportunity (DCEO).
• Develops procedures and performance metrics for the DCEO Loan Program to ensure compliance and program performance .
• Develops policy and establishes procedures to protect the state’s interests and ensure all DCEO loans are repaid to the Agency on time.
• Reviews loan write-up for financial analyses for loan request that will determine loan request justification.
• Serves as full-line supervisor.
• Establishes and maintains effective inter-governmental, public and professional liaisons, interprets agency programs and objectives to business clients and borrowers to convey the objectives of DCEO’s goals.
• Performs other duties as required or assigned, which are reasonably within the scope of the duties enumerated above.

Minimum Qualifications

• Requires knowledge, skill, and mental development equivalent to four years of college in Business Administration, Finance or Accounting.
• Requires prior experience equivalent to four years of progressively responsible administrative experience in a public or business organization.

Preferred Qualifications

• Prefers five (5) or more years’ experience managing a financial or loan program or credit operations.
• Prefers two (2) or more years’ supervisory/management experience in a lending institution.
• Prefers five (5) or more years’ experience working in lending, banking, or financial services.
• Prefers three (3) or more years’ experience developing program budgets and monitoring expenditures or managing a loan portfolio and monitoring asset performance.
• Prefers Master’s degree in Public Administration (MPA), Business Administration (MBA), Finance, Accounting, Economics or Public Policy.
• Prefers Certified Government Financial Manager (CGFM), Certified Credit Analyst (CCA), Credit Risk Certification (CRC), Certified Commercial Loan Officer (CCLO), Chartered Financial Analyst (CFA), Certified Banking & Credit Analyst (CBCA), or Certified Economic Development Finance Professional (EDFP).
• Prefer one (1) or more years’ experience managing federal grant, incentive or financial assistance programs.
• Prefer one (1) or more years’ experience conducting stakeholder outreach or creating marketing materials.

Conditions of Employment

• Requires ability to work at various times outside of normal office hours to communicate with clients/partners in different time zones.
• Requires ability to work at various times outside of normal office hours to meet deadlines.
• Overtime is a condition of employment, and you may be requested or required/mandated to work overtime including scheduled, unscheduled, or last-minute overtime. This requires the ability to work evenings and weekends.
• Requires ability to travel in the performance of duties, with overnight stays as appropriate.
• Requires appropriate, valid driver’s license.
• Requires completion of a background check and self-disclosure of criminal history.
• This position has been found to meet the requirements in section 4A-101 of the Illinois Governmental Ethics Act requiring the occupant/employee to file a Statement of Economic Interest. The Illinois Governmental Ethics Act (5 ILCS 420/4A et seq.) requires certain state officials and employees to file annual Statement of Economic Interest with the Office of Secretary of State that will be made available for examination and copying by the public. All employees required to file a Statement of Economic Interest are also required to file the Supplemental Statement of Economic Interest with the Executive Ethics Commission. (See Executive Order 15-09) Fines and penalties apply to untimely filings.

The conditions of employment listed here are incorporated and related to any of the job duties as listed in the job description.

About the Agency

The mission of the Illinois Department of Commerce and Economic Opportunity (DCEO) is to create equitable economic opportunities across the State of Illinois. By attracting and supporting major job creators, investing in communities, strengthening Illinois’ world-class workforce, fostering innovation, and ushering in the new clean energy economy, DCEO works to fortify Illinois’ reputation as a global economic powerhouse while ensuring Illinois is the best state to live, work and do business.

Work Hours: Mon - Fri 8:30AM - 5:00PM
Work Location: 555 W Monroe St, Chicago, Illinois, 60661
Agency Contact: [email protected] ( FOR INQUIRIES ONLY - INTERESTED APPLICANTS MUST APPLY ONLINE )
Posting Group: Leadership & Management

Term Appointment:
Candidates hired into a term position shall be appointed for a term of 4 years and are subject to a probationary period. The term may be renewed for successive four-year terms at the Director of the Department of Commerce and Economic Opportunity’s discretion.

The main form of communication will be through email. Please check your “junk mail”, “spam”, or “other” folder for communication(s) regarding any submitted application(s). You may receive emails from the following addresses:

• [email protected]
• [email protected]