Building a Successful Business Relationship with Your Banking Advisor

January 16, 2018|By Dave Marks, Executive Vice President & Chief Lending Officer

As an entrepreneur, you know that the relationship with your banker is vital to the success of your business. Despite the technological advancements that increase the convenience of day-to-day banking, there is no replacement for a strong relationship with your banker.

If you are selecting the right banker and lending partner for you, here are a few things to consider.

  1. Seek Out a Trusted Advisor, as You’re In It Together. Your banking advisor is not only your primary point-of-contact at your bank – they are your advocate within the bank. Spending time with your banker is a way for them to get to know you and understand your business vision. You can walk through your business plans, financial statements and significant developments within your business. When the time comes for a loan request or business advice, they can guide you in the right direction.
  2. Share information with your banker. Your banker should be scheduling time regularly to review results, trends and potential opportunities.  While it may be easy to share results when all of the trends are positive, don’t be hesitant to share negative information.  You can establish significant credibility by addressing potential issues as soon as possible. Remember, building trust goes both ways. Keep your banker up to date when it’s good or bad, so they can accurately assess your situation and customize solutions to meet your needs.
  3. If you’re not getting the attention you deserve, it’s time to consider a change. From personalized customer service to community support, there are many reasons why local banks are a better fit for local businesses. Larger banks often use a centralized underwriting and credit approval process, which minimizes the role of a relationship manager. We believe in this important role because your banker understands your business and can provide you with tailored solutions. Not only this, but every relationship manager at The Bank of Austin is an experienced commercial banker and all of our lending decisions are made locally for a quicker, more efficient and personalized lending experience.     

The bottom line is that your banker can be an instrumental advocate for entrepreneurs. One of the most rewarding aspects of my role here at The Bank of Austin, is that I get to focus on building long-lasting and mutually beneficial relationships. We have fun in the process, and we work together towards the same goal--building a successful business.

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