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Job Title: 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****

Applicants must attach the following documents to the My Documents section of their application:

A detailed Resume or Curriculum Vitae (CV)

A copy of transcripts or diploma(s) for all degrees earned

A copy of any applicable professional licensures

Please note: The Department of Commerce and Economic Opportunity (DCEO) must verify proof of higher education for any degree earned (if applicable) before an offer of employment can be extended.

You will not be considered for this position if you attach a CMS100, CMS100b, or any other document in place of a Resume or CV.

Why Work for Illinois?

Working for the State of Illinois is a testament to the values of compassion, equity, and dedication that define our State. Whether you are improving schools, protecting natural resources, or supporting families in need, your work contributes to something bigger—something that impacts the lives of every person who calls Illinois home.

No matter the career path you’re seeking, Illinois offers opportunities that fit your life and schedule. Our positions offer flexibility, competitive benefits, and opportunities to grow your career while making a meaningful impact.

With top-tier benefits, excellent retirement packages, and multiple pathways for advancement, the State of Illinois offers you the opportunity to build not only a rewarding career but also a lasting future.

Position Overview

The Illinois Department of Commerce & Economic Opportunity (DCEO) is seeking to hire a Loan Program Manager to oversee the Advantage Illinois loan programs under the State Small Business Credit Initiative (SSBCI).

Through the Office of Entrepreneurship, Innovation & Technology (OEIT), DCEO supports entrepreneurs with programs that provide capital directly to small businesses. The Advantage Illinois Program consists of a Participation Loan Program (PLP) and a Loan Guarantee Program (LGP), which partner with approved lenders to expand financing opportunities for small businesses. These programs help fill financing gaps caused by equity and collateral shortfalls, credit concerns, or challenges faced by new and rapidly growing companies.

The Loan Program Manager will:

Supervise staff, review and process loan applications, and ensure program compliance.

Conduct meetings and outreach with small businesses and financial institutions to promote collaboration and support.

Work closely with bank officials, business owners, multiple state agencies, and DCEO’s internal financial team and systems.

This is an excellent opportunity to support Illinois’ small businesses by expanding access to capital and driving economic growth statewide. We welcome qualified applicants to apply and join our team in advancing the Advantage Illinois Program.

Essential Functions

Serves as the Loan Program Manager for the Illinois Department of Commerce & Economic Opportunity (DCEO).

Develops procedures and performance metrics for the DCEO Loan Program to ensure compliance and program success.

Develops policies and establishes procedures to protect the State’s interests and ensure timely repayment of all DCEO loans.

Reviews loan write-ups and conducts financial analyses to determine the justification of loan requests.

Serves as a full-line supervisor, overseeing assigned staff.

Establishes and maintains practical intergovernmental, public, and professional liaisons; interprets agency programs and objectives to business clients and borrowers to convey DCEO’s goals.

Performs other duties as required or assigned that are reasonably within the scope of the duties enumerated above.

Minimum Qualifications

Requires knowledge, skill, and mental development equivalent to four (4) years of college with coursework in Business Administration, Finance, or Accounting.

Requires four (4) years of progressively responsible administrative experience in a public or business organization.

Preferred Qualifications

Prefers five (5) or more years of experience managing a financial or loan program or credit operations.

Prefers two (2) or more years of supervisory or management experience in a lending institution.

Prefers five (5) or more years of experience working in lending, banking, or financial services.

Prefers three (3) or more years of experience developing program budgets and monitoring expenditures, or managing a loan portfolio and monitoring asset performance.

Prefers a Master’s Degree in Public Administration (MPA), Business Administration (MBA), Finance, Accounting, Economics, or Public Policy.

Prefers certification as a 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).

Prefers one (1) or more years of experience managing federal grant, incentive, or financial assistance programs.

Prefers one (1) or more years of experience conducting stakeholder outreach or developing marketing materials.
Prefers five (5) or more years of experience managing a financial or loan program or credit operations.

Prefers two (2) or more years of supervisory or management experience in a lending institution.

Prefers five (5) or more years of experience working in lending, banking, or financial services.

Prefers three (3) or more years of experience developing program budgets and monitoring expenditures, or managing a loan portfolio and monitoring asset performance.

Prefers a Master’s Degree in Public Administration (MPA), Business Administration (MBA), Finance, Accounting, Economics, or Public Policy.

Prefers certification as a 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).

Prefers one (1) or more years of experience managing federal grant, incentive, or financial assistance programs.

Prefers one (1) or more years of experience conducting stakeholder outreach or developing marketing materials.

Conditions of Employment

Requires the ability to work outside of regular office hours to communicate with clients/partners in different time zones.

Requires the ability to work outside of regular office hours as needed to meet deadlines.

Overtime is a condition of employment, and you may be requested, required/mandated to work overtime, including scheduled, unscheduled, or last-minute overtime. This may include evenings and weekends.

Requires the ability to travel in the performance of duties, including overnight stays as appropriate.

Requires an appropriate, valid driver’s license.

Requires completion of a background check and self-disclosure of criminal history.

This position has been determined to meet the requirements of Section 4A-101 of the Illinois Governmental Ethics Act, requiring the employee to file a Statement of Economic Interest. The Illinois Governmental Ethics Act (5 ILCS 420/4A et seq.) mandates that certain State officials and employees file annual Statements of Economic Interest with the Office of the Secretary of State, which are available for public examination and copying. Employees required to file a Statement of Economic Interest must also file the Supplemental Statement of Economic Interest with the Executive Ethics Commission (see Executive Order 15-09). Fines and penalties apply for untimely filings.

The conditions of employment listed here are incorporated into and directly related to the job duties described in this posting.

Term Appointment

Candidates hired into a term position shall be appointed for a term of four (4) years and are subject to a probationary period. The term may be renewed for successive four-year periods at the discretion of the Director of the Department of Commerce & Economic Opportunity.

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 advancing the clean energy economy, DCEO works to position Illinois as a global economic powerhouse while ensuring it remains the best state to live, work, and do business.

Work Hours: MONDAY - FRIDAY 8:30 AM - 5:00 PM 
Work Location: 555 W Monroe St, Chicago, Illinois, 60661
Agency Contact: CEO.HR@illinois.gov (FOR INQUIRIES ONLY - INTERESTED APPLICANTS MUST APPLY ONLINE) 
Posting Group: Leadership & Management 

Communication
The primary form of communication regarding application status will be through email. Applicants are strongly encouraged to regularly check their “junk,” “spam,” or “other” folders to ensure they do not miss critical updates. Communications may be sent from the following email addresses:

• donotreply@SIL-P1.ns2cloud.com 
• systems@SIL-P1.ns2cloud.com