Do You Know Your Banker?

Why Not?

Do you know your banker by name (other than the bank’s name!)? When you walk into the bank to make a deposit, does your banker say “hello” and ask how the business is going? If not, you have work to do!

Everyone who owns a small business, or works with small business owners, should focus on the banking relationship. The old adage  when you need money, the bankers don’t want to talk to you and when you don’t, they want to talk to you, is true. So, the time to build a relationship with your banker is now.

Call them today and set an appointment to meet in person. You want to meet with the Business Banker. Take your financial statements, a business plan, and your enthusiasm regarding the prospects for your business. Explain to them what you do, where you are going, and how you plan to get there. Ask them how the bank can help you. Banks today have a vast array of services for the small business. You will be amazed at what they can provide to businesses.

Follow up this meeting every quarter. Show them how you are growing, how you are marketing, and your profitability. When the time comes to apply for a line of credit, or equipment loan, or some other banking service, they will be more aware of you and your business. Your chances of getting their attention will be much greater.

Read this article. It explains even more why the relationship with your banker is vital to your business.
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Pick up the phone today. Give them a call!

Make it a great week.

Tags: banker, Banking, banking relations, CASH, cfo, loans, small business