Senior Credit Analyst

About the role

As a Senior Credit Analyst, you will lead underwriting efforts for SMB and mid-market manufacturing customers. You will assess financial health, evaluate risk, and recommend commercial structures that align customer opportunity with Formic’s capital strategy. This role requires strong analytical rigor, sound judgment, and the ability to operate independently while partnering closely with Sales and cross-functional stakeholders to support deal execution without compromising credit discipline.

In this role you will:

• 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
• Maintain clear documentation of underwriting decisions and supporting analysis
• Contribute to refinement of underwriting tools, frameworks, and internal processes

About the team

Formic’s Credit Team supports responsible growth by evaluating customer risk and structuring commercial terms that enable scalable automation deployments. The team partners cross-functionally to assess exposure, protect capital, and maintain disciplined underwriting standards as Formic expands nationwide. By balancing risk management with commercial velocity, the team helps ensure Formic can scale confidently while maintaining strong portfolio performance.

What makes you a great fit

• 5+ years of experience in commercial credit, underwriting, equipment finance, or asset-based lending
• Direct experience underwriting SMB or mid-market manufacturing companies
• A strong understanding of financial statements, cash flow analysis, and asset-heavy business models
• Experience structuring credit exposure and negotiating commercial terms
• The 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 San Francisco area and able to work onsite 3+ days per week from Formic’s Oakland, CA office
• Bonus points if you have:
• 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

Our Total Rewards

• 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

Compensation Philosophy

Formic’s pay and equity packages are thoughtfully benchmarked against peer companies at a similar growth stage. Equity represents a meaningful part of our mutual investment: when Formic succeeds, so do you. Final offers are customized based on experience, geographic location, market considerations, and a candidate’s preferred balance of cash and equity. Our goal is to attract and reward top talent who will have significant impact, and we are open to thoughtful discussions to align on the right structure.

Compensation Range

$95,000—$145,000 USD

Equal Opportunity Employment

We are an equal opportunity employer. We do not discriminate on the basis of race, color, religion or religious creed, sexual orientation, gender, gender identity, marital status, family or parental status, disability, military or veteran status, or any other basis protected by law. All employment decisions are based on a person’s merit, business needs, and role requirements. If you require further accommodations or have questions regarding accessibility of our roles, please reach out to careers@formic.co.