douglas

Hi Mike, for an established business they will usually have several years of experience in dealing with a particular bank or if they are really fortunate a banker who has able to look after them for some time and thus know and understand their particluar business and forge a relationship. What advice could you offer for a newer or even a start up business that has no banking relationship as to what to look for in finding the right banker for them, and what might they expect a banker to ask them in return.

Thanks for the question!

In finding the right banker, here are some key questions to ask:
• What are your qualifications and length of business lending experience?

• Do you have a team approach to business banking relationships? Who provides ongoing support to you and to whom do you report?

• Provide an overview of your business/commercial loan portfolio. Which industries do you specialize in and where have you had the most success?

• How important is business/commercial banking to your bank?

Remember, if you are seeking a new bank; remember that the key to an enduring relationship will be the individual business banker.

The banker in turn, will want comprehensive personal and business financial information from you, which is provided in a timely and consistent manner.

Bankers also dislike surprises (the unpleasant variety) and so, if you are experiencing any set backs with your business, make sure that you meet with banker promptly to figure out the best, mutually advantageous, solution.

Best wishes,

Mike