[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.ResponsibilitiesEvaluate financial statements, cash flow profiles, leverage, and working capital trends for SMB and mid-market companiesAssign internal risk ratings and recommend appropriate exposure thresholdsStructure commercial terms aligned to customer risk profile and portfolio objectivesPartner with Sales to support timely deal execution while maintaining underwriting disciplineCoordinate with Legal and Finance to ensure commercial terms align with Formic’s risk postureMonitor portfolio performance and identify early warning indicatorsMaintain clear documentation of underwriting decisions and supporting analysisContribute to refinement of underwriting tools, frameworks, and internal processesSkills5+ years of experience in commercial credit, underwriting, equipment finance, or asset-based lendingDirect experience underwriting SMB or mid-market manufacturing companiesStrong understanding of financial statements, cash flow analysis, and asset-heavy business modelsExperience structuring credit exposure and negotiating commercial termsAbility to make independent, well-reasoned credit decisionsStrong communication skills and comfort partnering with Sales and cross-functional stakeholdersBased in or willing to relocate to the greater Chicago area and able to work onsite 3+ days per week from Formic's Woodridge, IL officeExperience in equipment finance, leasing, or capital equipment underwritingFamiliarity with subscription or recurring revenue business modelsExperience with portfolio monitoring, delinquency management, and loss forecastingExperience working within Salesforce or similar CRM-driven workflowBenefitsEquity in Formic: Participate in our stock option program and share in the success of a fast-growing start-up backed by leading global investorsCompetitive & Uncapped Commission Structure: Designed to reward performance and impact in commission-eligible rolesComprehensive 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 availableAdditional Insurance Benefits: FSA and DCFSA, life insurance, short-term disability, and long-term disability through Unum, all 100% employer-paidEmployee Assistance Program (EAP): Fully funded by Formic, offering support when you need it mostPaid Parental Leave Program: Up to 12 weeks of paid parental leaveCompany-sponsored 401(k): Invest in your future with our company-facilitated retirement savings planHome Office Stipend: A one-time allowance for fully remote and hybrid employees to support an at-home or on-the-road work setupMonthly Cell Phone Reimbursement: Monthly stipend toward personal phone and internet expensesFlexible Time Off: Take the time you need, when you need it, supported by our flexible PTO policyCompany OverviewAt Formic, we make automation simple. We're dedicated to helping manufacturing businesses across the United States supercharge their productivity. It was founded in 2020, and is headquartered in Chicago, Illinois, USA, with a workforce of 51-200 employees. Its website is https://formic.co.