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 primarily focus on two phases of these structured finance transactions: 1) executing the closing process; and 2) the post-closing phase where the project is constructed and stabilized.

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. We have facilitated over $1.7 billion in successful financings for a wide variety of community development projects.

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 fast-paced 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

  • Assisting our firm’s clients with the approval and closing processes for NMTC transactions
  • Assembling due diligence materials and responding to information requests to support the closing process
  • Underwriting projects/organizations and preparing underwriting memos
  • Supporting efficient closings through coordination with internal and external parties, including attorneys, accountants, funders, and project sponsors
  • Reviewing third-party reports and documentation, including, but not limited to, insurance certificates, appraisals/broker opinions of value, environmental reports, financial projections, prior expenditure documentation, settlement statements, closing transfer memos, etc.
  • Summarizing and assisting with ongoing loan servicing, reporting, and compliance obligations
  • Communicating and building relationships with mission-driven borrowers and investors
  • Reviewing loan disbursement requests during project construction
  • Working with clients, borrowers, and investors to identify and troubleshoot problems
  • Developing and improving systems and processes to increase efficiency and quality


  • Bachelor’s degree in Finance, Accounting, Business Administration, 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
  • Familiarity with accounting principles, real estate finance, and/or lending and credit analysis concepts
  • Proficiency in Microsoft Excel
  • Ability to read and interpret legal documents
  • Ability to express complicated ideas and concepts clearly via email and in writing

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
  • Newly renovated offices overlooking the Chicago River in the Loop

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

To Apply 

Please respond by submitting a cover letter and resume by email to Tony Smith at Please include “Associate – Community Development Finance” in the subject line.

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