[Remote] Senior Credit Analyst

Note: The job is a remote job and is open to candidates in USA. Formic is on a mission to reshape American manufacturing by making automation accessible to every factory. As a Senior Credit Analyst, you will lead underwriting efforts for SMB and mid-market manufacturing customers, assessing financial health and recommending commercial structures that align with Formic’s capital strategy.

Responsibilities

• Evaluate financial statements, cash flow profiles, leverage, and working capital trends for SMB and mid-market companies
• Assign internal risk ratings and recommend appropriate exposure thresholds
• Structure commercial terms aligned to customer risk profile and portfolio objectives
• Partner with Sales to support timely deal execution while maintaining underwriting discipline
• Coordinate with Legal and Finance to ensure commercial terms align with Formic’s risk posture
• Monitor portfolio performance and identify early warning indicators
• Maintain clear documentation of underwriting decisions and supporting analysis
• Contribute to refinement of underwriting tools, frameworks, and internal processes

Skills

• 5+ years of experience in commercial credit, underwriting, equipment finance, or asset-based lending
• Direct experience underwriting SMB or mid-market manufacturing companies
• Strong understanding of financial statements, cash flow analysis, and asset-heavy business models
• Experience structuring credit exposure and negotiating commercial terms
• Ability to make independent, well-reasoned credit decisions
• Strong communication skills and comfort partnering with Sales and cross-functional stakeholders
• Based in or willing to relocate to the greater Chicago area and able to work onsite 3+ days per week from Formic's Woodridge, IL office
• Experience in equipment finance, leasing, or capital equipment underwriting
• Familiarity with subscription or recurring revenue business models
• Experience with portfolio monitoring, delinquency management, and loss forecasting
• Experience working within Salesforce or similar CRM-driven workflow

Benefits

• Equity in Formic: Participate in our stock option program and share in the success of a fast-growing start-up backed by leading global investors
• Competitive & Uncapped Commission Structure: Designed to reward performance and impact in commission-eligible roles
• Comprehensive Healthcare Coverage: Medical, dental, and vision insurance through Blue Cross Blue Shield and Unum, with 99% of employee premiums covered and 75% coverage for dependents, with optional buy-up plans available
• Additional Insurance Benefits: FSA and DCFSA, life insurance, short-term disability, and long-term disability through Unum, all 100% employer-paid
• Employee Assistance Program (EAP): Fully funded by Formic, offering support when you need it most
• Paid Parental Leave Program: Up to 12 weeks of paid parental leave
• Company-sponsored 401(k): Invest in your future with our company-facilitated retirement savings plan
• Home Office Stipend: A one-time allowance for fully remote and hybrid employees to support an at-home or on-the-road work setup
• Monthly Cell Phone Reimbursement: Monthly stipend toward personal phone and internet expenses
• Flexible Time Off: Take the time you need, when you need it, supported by our flexible PTO policy

Company Overview