A personal relationship with a bank is one of the most important business relationships that a small business owner has. Bankers play a vital role in helping small business owners obtain financing, receive financial advice, and achieve their goals. An established relationship between a banker and a business owner gives a borrower great potential for credit availability and lower collateral requirements. A long-term relationship increases the chances of receiving approval on a future business loan. Because bankers already know the business owner from many perspectives, they can provide business owners with thoughtful insights and potential solutions catered specifically to that small business.
This guide is intended for new and established business owners and Extension Educators that work with entrepreneurs. The guide will help small business owners navigate the process of creating, maintaining, and enhancing a personal relationship with a bank representative. The guide also provides helpful information so that potential small business owners can become familiar with banking terminology, banking staff, and banking products and services.
Emily Cassanmagnago; Zuzana Bednarikova