How to Enhance Your Relationship with Your Business Banker

This is relationship that has to build on understanding and trust and this takes time. As a business person you have to be honest and do not hide anything from your banker. If your banker knows everything about your business he will understand it better and he will even be in a position to anticipate some of your service requests before you even make them.

I have outlined below some steps for you to follow:

  1. Prepare your business plan or strategic plan and make it available to your business banker or bank manager.
  2. After at least 3 days, ask tactfully whether business banker would have finished going through your plan.
  3. When banker has finished reading the business plan, invite him or her to your premises.
  4. Discuss your plan and ask your banker if he has queries or any advice to offer.
  5. Introduce banker to your management team (if applicable).
  6. Ensure you introduce banker to someone whom they can communicate with in your absence.
  7. After discussion, take your banker on a tour of your premises.
  8. After discussion and tour, also ensure you cement relationship by advising banker of all major developments and changes (including changes in top management).
  9. Also endeavor to meet all due obligations (especially loans) in good time,. Where you reckon you will miss set deadlines advise your banker of the delay in good time and propose another realistic deadline to settle your dues.

Always remember, honest communication is the key.

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