Associate - Community Development Finance

Location: Chicago, Illinois
Type: Full-time position

We’re seeking an Associate for our growing community development finance team and New Markets Tax Credit (NMTC) practice to support innovative, impact-driven development projects nationwide. This position will support all aspects of financing such projects from identifying projects and financing partners to structuring and closing transactions to ongoing portfolio management. Located in Chicago’s Loop, SB Friedman is a mission-driven advisor specializing in public-private partnerships and development projects that support community revitalization, placemaking and social equity.

The ideal candidate for this position is a proactive problem solver and critical thinker with the ability to learn new skills and techniques quickly. The successful applicant will be resourceful, comfortable working in unstructured environments, and highly detail oriented. Direct experience or training in all areas of work and key responsibilities listed here is not required. If you’re intellectually curious and committed to using your financial background to create positive change, please apply.

Key Responsibilities

  • Helping high-impact projects access flexible, below-market financing tools
  • Reviewing projects for compatibility with NMTC and other financing sources
  • Writing and using data to support competitive NMTC applications for submittal to US Treasury
  • Structuring and underwriting complex financial transactions and projects
  • Supporting transaction closings including reviewing and assessing transaction documents, and organizational, real estate and construction due diligence
  • Assisting with management of an existing portfolio of existing loans
  • Working with team members to monitor, analyze and contextualize community impacts of projects
  • Communicating and building relationships with mission-driven clients, borrowers and investors


  • Bachelor’s degree in Finance, Business Administration, Economics, or a related field
  • Demonstrated interest in impact investing, socially responsible investing, community and economic development, or related topics either through coursework, work experience or volunteering
  • 1+ year relevant professional experience
  • Quantitative analysis skills, particularly using Microsoft Excel
  • Exceptional writing skills
  • Strength in oral communication and interpersonal skills
  • Detail orientation and accuracy 
  • Demonstrated ability to meet deadlines 

Preferred Qualifications:

  • A Master’s degree in Urban Planning/Economic Development, Public Policy, Business Administration, or a related field
  • 3+ years of relevant professional experience
  • Demonstrated experience in related fields, such as policy research, tax credit finance, real estate financial analysis, or real estate development.

Applicants with additional or equivalent combinations of experience/qualifications are encouraged to apply; the firm may tailor the position for the right candidate.

Other Details

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

  • Competitive salary
  • Performance-based bonus compensation
  • Generous benefits packages, including company-paid health and dental insurance, 401k with employer match, vacation, and 10+ paid holidays
  • Paid membership to professional organization to encourage professional growth
  • Regular peer-delivered “brown bag” sessions on topics of professional interest
  • Monthly happy hours and staff get-togethers
  • Recently renovated offices overlooking the Chicago River in the Loop

All applicants will be afforded equal opportunity without discrimination because of race, color, religion, sex, sexual orientation, pregnancy, gender identity, marital status, national origin or ancestry, age, citizenship status, order of protection status, physical or mental disability unrelated to ability, military status, or unfavorable discharge from military service.

To Apply 

Please upload a cover letter and resume (preferably in PDF format) addressed to Ryan Hagerty. Please include “Associate – Community Development Finance” in the “Job Title” field.

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