A relationship with a banker can be an enormous asset to your business. A quality banker can save you time and money and also introduce you to important business connections and contacts.
Here is a simple three question test to see if you could get a better lender:
1. Have you ever deliberately changed your bank since your business started?
2. Has your banker ever connected you with a valuable new customer, supplier or service provider?
3. Does your banker understand and reference your business goals?
If you answer “No” to any of these questions, you could definitely find a better banker. But how?
You could simply call another bank, but that would mean listening to yet another pitch. You could ask your business contacts for referrals to banks and bankers their businesses have been happy with, but it is likely your contacts have very different businesses with goals unlike yours — maybe their banker wouldn’t be as good a fit for you? There is always social media to turn to, but that is like finding a needle in a hay stack.