Careers

Senior Asset Based Lending Underwriter

Description:

Eclipse Business Capital is seeking a full-time Senior Asset Based Lending Underwriter to execute on asset based lending opportunities for a variety of ABL clients from small to large. Clients include public corporations, private equity owned companies, and small to mid-sized entrepreneur/privately owned businesses. Facility sizes range from $10,000,000 to $100,000,000+. This individual will be responsible for independently underwriting and closing a variety of complex transactions and is expected to respond independently to large and complex issues.

Responsibilities:

  • Lead transactional deal teams by coordinating with originations, portfolio management, operations, and product partners to underwrite, document, and close new asset-based loans
  • Analyze and understand collateral, historical and projected financial statements, cash flows, liquidity, relevant valuation metrics, and market significance
  • Coordinate and drive the scope of third-party due diligence including collateral focused field examinations; inventory, equipment, real estate, and intellectual property appraisals; environment assessments; quality of earnings review; and background investigations
  • Develop and maintain a positive relationship with prospective clients throughout the underwriting process
  • Organize diligence meetings to assess the quality and strength of management and develop a deeper understanding of the borrower’s business, financial profile, and industry
  • Identify critical transactional and structural risks, complete in-depth diligence on critical focus areas, and propose situation appropriate mitigants or structuring alternatives
  • Complete comprehensive credit approval and funding/closing memos
  • Present underwritten transactions to senior management and the Credit Committee in a clear and concise manner with well-reasoned support
  • Expertly structure loans and negotiate legal documents to ensure the transaction is appropriately documented in accordance with credit approval
  • Manage client and internal expectations throughout the approval and loan closing process through frequent and effective communication
  • Oversee seamless onboarding of new clients in coordination with Portfolio Management and Operations
  • Identify and mitigate exceptions to credit policies
  • Mentor junior team members

Requirements:

  • 10+ years of Asset Based Lending Underwriting experience, or equivalent experience demonstrated through work experience, training, or education
  • Significant customer facing experience
  • Significant secured lending legal loan documentation and negotiation experience
  • Proven ability to manage priorities and work well under tight deadlines
  • Preferred locations are Chicago, IL and Westport, CT

If you are interested in this opportunity, please submit your resume to bharberts@eclipsebuscap.com

AVP in Underwriting - Chicago

Eclipse Business Capital, LLC

Firm Description

Originally founded in 2016, Eclipse Business Capital, LLC is one of the country’s leading independent asset-based lending platforms targeting both privately owned and publicly traded companies across a wide range of industries. On August 5, 2021, announced a recapitalization and a significantly expanded its capital base primarily provided by Barings LLC, (“Barings”), one of the world’s leading financial services firms, deployed funds managed by Barings including Barings BDC, Inc. (NYSE: BBDC).

The firm continues to provide revolving lines of credit and term loans ranging in size from $10 – 150 million that are secured by collateral such as accounts receivable, inventory, equipment or real estate. Deal situations include turnarounds and restructures, bankruptcy reorganizations (debtor-in-possession financings), leveraged buyouts, recapitalizations, highly seasonal and high growth situations. It is a generalist lender financing manufacturers, distributors and service providers. Additionally, it has sector vertical expertise in areas such as retail finance and bankruptcy debtor-in-possession/DIP financings. Since it was established, EBC has underwritten and funded more than 75 transactions totaling over $2 billion in aggregate credit facilities. EBC has an experienced team of over 40 professionals, located in Chicago, Boston, New York, Los Angeles, San Francisco, Houston, Charlotte and Fort Lauderdale.

Position Overview

The firm is adding to its headquarters team an AVP in Underwriting. The role offers excellent opportunities for advancement with increasing levels of responsibility given the growth of the firm, being in the headquarters location, and having a credit box and credit profile target that correlates to the emerging recessionary macroeconomic environment. Another attractive factor is working for a non-bank that doesn’t have the regulatory and compliance constraints of bank-owned ABL groups. That translates into more creative and flexible transaction structuring capabilities, and not having as much time consumed with non-valued added compliance work.

Responsibilities

Involved in all aspects of underwriting focusing on the evaluation of borrower credit risk profiles, performance, and trends.  This includes credit / financial analysis, financial modeling, and collateral analysis.

  • Work with business development officers in preparing prescreen memos for ABL credit facilities ranging from $10 million to $150 million.
  • Credit / Financial Analysis and Modeling: Evaluate and validate historical trends; do a deep dive into drivers and factors impacting cash flow and compare/contrast to client forecasts; analyze and summarize monthly financial highlights and red flags; keep abreast of industry trends.
  • Work with senior underwriters to prepare and complete credit approvals.
  • Collateral Financial Modeling and Analysis: Trend analysis and forecasting; review and evaluate field exams and appraisals.
  • Participate in client calls, negotiations and meetings, and direct ongoing interactions with prospects, their advisors and private equity sponsors.

Requirements

  • 2-4 years’ experience in credit, financial due diligence and analysis, credit research and analysis.
  • Seeking a professional from one of the following backgrounds:  1) formally credit trained in a bank, debt fund or finance company, 2) financial due diligence, transaction advisory or lender services experience in a Big 4, major accounting firm or consulting firm, 3) ABL field examination experience, or 4) other finance or accounting backgrounds with sufficient transferable skills.
  • Experienced in, and capable of, extensive and detailed financial modeling.
  • Well versed in Excel and Word.
  • Excellent analytical skills.
  • Undergraduate degree in Accounting or Finance (Accounting is preferred).
  • In-person - located downtown Chicago

If you are interested in this opportunity, please submit your resume to bharberts@eclipsebuscap.com

Credit Analyst - Portfolio Management - Chicago

Eclipse Business Capital, LLC

Firm Description

Originally founded in 2016, Eclipse Business Capital, LLC is one of the country’s leading independent asset-based lending platforms targeting both privately owned and publicly traded companies across a wide range of industries.  On August 5, 2021, announced a recapitalization and a significantly expanded its capital base primarily provided by Barings LLC, (“Barings”), one of the world’s leading financial services firms, deployed funds managed by Barings including Barings BDC, Inc. (NYSE: BBDC).

The firm continues to provide revolving lines of credit and term loans ranging in size from $10 – 150 million that are secured by collateral such as accounts receivable, inventory, equipment or real estate. Deal situations include turnarounds and restructures, bankruptcy reorganizations (debtor-in-possession financings), leveraged buyouts, recapitalizations, highly seasonal and high growth situations.  It is a generalist lender financing manufacturers, distributors and service providers.  Additionally, it has sector vertical expertise in areas such as retail finance and bankruptcy debtor-in-possession/DIP financings.  Since it was established, EBC has underwritten and funded more than 75 transactions totaling over $2 billion in aggregate credit facilities.  EBC has an experienced team of over 40 professionals, located in Chicago, Boston, New York, Los Angeles, San Francisco, Houston, Charlotte and Fort Lauderdale.

Position Overview

The firm is adding to its headquarters team a Credit Analyst in Underwriting. The role offers excellent opportunities for advancement with increasing levels of responsibility given the growth of the firm, being in the headquarters location, and having a credit box and credit profile target that correlates to the emerging recessionary macroeconomic environment. Another attractive factor is working for a non-bank that doesn’t have the regulatory and compliance constraints of bank-owned ABL groups. That translates into more creative and flexible transaction structuring capabilities, and not having as much time consumed with non-valued added compliance work.

Responsibilities

Involved in all aspects of account relationship management and monitoring of borrower credit risk profiles, performances and trends.  This includes credit / financial analysis, financial modeling, and collateral analysis.

  • Work with business development officers in preparing prescreen memos for ABL credit facilities ranging from $10 million to $150 million.
  • Credit / Financial Analysis and Modeling: Evaluate and validate historical trends; do a deep dive into drivers and factors impacting cash flow and compare/contrast to client forecasts; analyze and summarize monthly financial highlights and red flags; keep abreast of industry trends.
  • Work with senior underwriters to prepare and complete credit approvals.
  • Collateral Financial Modeling and Analysis: Trend analysis and forecasting; review and evaluate field exams and appraisals.
  • Participate in client calls, negotiations and meetings, and direct ongoing interactions with prospects, their advisors and private equity sponsors.

Requirements

  • 2-4 years’ experience in credit, financial due diligence and analysis, credit research and analysis.
  • Seeking a professional from one of the following backgrounds:  1) formally credit trained in a bank, debt fund or finance company, 2) financial due diligence, transaction advisory or lender services experience in a Big 4, major accounting firm or consulting firm, 3) ABL field examination experience, or 4) other finance or accounting backgrounds with sufficient transferable skills.
  • Experienced in, and capable of, extensive and detailed financial modeling.
  • Well versed in Excel and Word.
  • Excellent analytical skills.
  • Undergraduate degree in Accounting or Finance (Accounting is preferred).
  • In-person - located downtown Chicago

If you are interested in this opportunity, please submit your resume to jgurgone@eclipsebuscap.com

Portfolio Manager – Chicago

Eclipse Business Capital, LLC

Firm Description

Originally founded in 2016, Eclipse Business Capital, LLC is one of the country’s leading independent asset-based lending platforms targeting both privately owned and publicly traded companies across a wide range of industries.  On August 5, 2021, announced a recapitalization and a significantly expanded its capital base primarily provided by Barings LLC, (“Barings”), one of the world’s leading financial services firms, deployed funds managed by Barings including Barings BDC, Inc. (NYSE: BBDC).

The firm continues to provide revolving lines of credit and term loans ranging in size from $10 – 125 million that are secured by collateral such as accounts receivable, inventory, equipment or real estate. Deal situations include turnarounds and restructures, bankruptcy reorganizations (debtor-in-possession financings), leveraged buyouts, recapitalizations, highly seasonal and high growth situations.  It is a generalist lender financing manufacturers, distributors and service providers.  Additionally, it has sector vertical expertise in areas such as retail finance and bankruptcy debtor-in-possession/DIP financings.  Since it was established, EBC has underwritten more than 70 transactions totaling over $1.7 billion in aggregate credit facilities.  EBC has an experienced team of 47 professionals, located in Chicago, Boston, New York, Los Angeles, San Francisco, Houston, Charlotte and Fort Lauderdale.

Position Overview

The firm is adding to its headquarters team a Portfolio Manager.  The role offers excellent opportunities with increasing levels of responsibility given the growth of the firm, being in the headquarters location, and having a credit box and credit profile target that correlates to the emerging recessionary macroeconomic environment.  Another attractive factor is working for a non-bank that doesn’t have the regulatory and compliance constraints of bank-owned ABL groups.  That translates into more creative and flexible transaction structuring capabilities, and not having as much time consumed with non-valued added compliance work.

Responsibilities

EBC is looking for a full time Portfolio Manager responsible for oversight and management of a portfolio of asset-based loans.  The role is based in Chicago, Illinois, reporting to an Executive VP of Risk.

Specifically, the role will be responsible for the management and oversight of assigned accounts, involving the following duties:

  • Review and recommend credit decisions.
  • Review and analyze collateral and financial performance; monitor compliance with covenants and overall deal structure.
  • Closing of approved deals including negotiation of credit agreements and related documents.

Requirements

  • Education: Bachelor's degree in Business (e.g. Business Administration, Finance, or Accounting).
  • 5-7 years of experience in asset based lending, including 1-2 years of field exam experience preferred.
  • Collateral and financial risk analysis, including financial modeling.
  • Proficient with technology and ability to learn new applications.
  • Authorized to work in the U.S.

If you are interested in this opportunity, please submit your resume to jgurgone@eclipsebuscap.com