Need Advice On Keeping Doors in Credit Ops Open
I am yet again at another crossroads in my life and career. After one too many fuck ups, I don't want to make make another. Life situations have me on the move right now in a less than favorable career position during a less than favorable economic times.
Do I have what it takes and will I end up working for a BDC? Probably not - I'm in an unfavorable position given my background- but I'm no quitter and I do have the ability to place myself in a more favorable position.
Right now, I'm trying to get some street cred (nicer resume and networking) while I prep for B-School (before 30)so I can present in that credit pitch that Gefland, Bekas, and Wang like to attend at UCLA.
Anyway, I'm thinking of making the jump to an "Economic Development Organization" to underwrite loans for businesses in the communities it serves.It pays okay for a not for profit AND i get to work right under the equivalent of the CCO. As I write, now, I'm aiming for positions that establish that allow me to develop the skills needed to effectively present memorandum to credit committee .I also need to prove I am diligent, hard-working, responsible, willing to work both in a team setting and independently. From my POV underwriting is an excellent way to develop these credit analysis and rapport development skills.
Does this seem like a reasonable plan? Tell me if you disagree with my last paragraph in particular.
TL;DR: Underwriting of somesort-> MBA-> BDC/DL or bust. Unless something profoundly changes my life.
Drawback of the economic dev org will be lack of exposure to syndicate, participation, and any sort of MM+ loans. We'll still probably be able to ABL (borrowing base) with smaller clients. Typing this out made me realize it was a dumb idea....
Total amateur but trying to not be. If i said anything stupid please do me the honor of correcting me.
In general, I think organizations like that are a lot more fulfilling personally. You can also get some good experience when it comes to credit underwriting, though I'm not entirely sure on this particularly and I would imagine it probably be the case at the larger non-profits that have more fleshed out practices like that. It would depend on the specific place you're targeting, but it sounds like this place would offer that.
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