Associate – Community Development Finance

Location:           Chicago, IL
Type:                 Full-time position
Category:          Community Development Finance, New Markets Tax Credits
Experience:       1+ years professional experience, no direct experience required

We're seeking an Associate to work with our growing community development finance team and the New Markets Tax Credit (NMTC) practice. With an emphasis on community and economic development, this position will play a vital role in the financing of transformative projects that uplift individuals from disinvested communities and people experiencing poverty.

Located in Chicago’s Loop, SB Friedman’s Community Development Finance team is a group of mission-driven consultants and finance professionals who facilitate investment in high-impact developments throughout the United States. Our work helps bring to fruition such projects as community health clinics, early childhood education facilities, grocery stores in food deserts, manufacturing facilities, community centers for at-risk youth, homeless services centers, mixed-use commercial developments, and other vital social and economic infrastructure. 

The ideal candidate for this position is an intellectually curious critical thinker who enjoys problem-solving and is committed to using their skills to drive equity-focused investments. The successful applicant will be resourceful, detail oriented, and constantly looking to expand their base of knowledge and skills.

Direct experience or training in all areas of work and key responsibilities listed below is not required. We are seeking a candidate that brings motivation, curiosity, and an ability to learn skills on the job.

Key Responsibilities

  • Provide key financial underwriting and analysis support for community development real estate projects
  • Assist in structuring diverse financing tools, including NMTC, public subsidy sources, private capital, and philanthropic grants and impact investments, to support challenging, high-impact projects
  • Review/synthesize/distribute financial projections and other diligence information as a part of the financial closing process
  • Support the transaction closing process by reviewing/generating diligence documents and participating in group calls
  • Track and refine project budgets and available funding sources
  • Support the asset management team with a variety of portfolio management-related tasks such as client reporting, debt and distribution cash movements, bookkeeping, compliance, and more
  • Assist Community Development Entity clients with the investment unwind and exit process
  • Collect, review, and track borrower financial and compliance reporting
  • Monitor the construction of new projects and assist in the disbursement of construction funds
  • Maintain communication and build relationships with mission-driven borrowers and investors
  • Help clients understand their obligations and commitments within the financing structure
  • Develop and enhance our systems and practices to support efficient, accurate work

Minimum Qualifications

  • Bachelor's degree in Finance, Economics, Business Administration, Accounting, Real Estate, or another relevant field
  • 1+ year relevant experience (including internships and analogous work experience)
  • Strong analytical and communication skills
  • Strong quantitative analysis skills, particularly using Microsoft Excel
  • Interest in equitable community and economic development, impact investment, or related topics
  • Detail- and deadline-orientation

Other Details

We are focused on the professional success of our employees and offer the following:

  • Competitive salary + performance-based bonus compensation
  • Generous benefits package, including 100% company-paid health and dental insurance, 401k with employer match, vacation, paid parental leave, and 10+ paid holidays
  • Hybrid schedule featuring a blend of in-person and remote work
  • Paid membership to a professional organization to encourage professional growth
  • Frequent employer-backed volunteering events taking place throughout Chicago
  • Company-sponsored charitable donation matching program
  • Regular peer-delivered “brown bag” sessions on topics of professional interest
  • Membership and access to a high-quality gym in the office building
  • Monthly happy hours and staff get-togethers

All applicants will be afforded equal opportunity without discrimination because of race, color, religion, ethnicity, sex, gender identity, sexual orientation, age, ancestry, national origin, physical or mental disability unrelated to ability, pregnancy, marital status, familial status, parental status, cultural differences, physical appearance, arrest or conviction record, political beliefs, military status, or any other protected classification under federal, state or local law. To view our firm's Civil Rights Compliance and Affirmative Action Plan, please contact us at

To Apply

Please respond by submitting a resume by email to Isaiah Horne at Please include "Associate – Community Development Finance" in the subject line. When applying, please submit a single PDF file containing your resume. A subsequent cover letter may be requested as part of the hiring process.