Borrower Loyalty and Banker Esteem

We’ve reviewed several keys for a successful commercial borrowing relationship.  Now let’s look into loyalty and promoting your lender.

  1. Be Loyal to your Bank: Banks love customers that provide ancillary business and associated profits.  In addition to borrowing money from your bank, you can aggregate deposit accounts, cash management business, and ancillary banking services.  By expanding your profitability to the bank your chances of getting the best terms and pricing on other banking products are enhanced.  Your line banks should have the opportunity to bid on your loan requests.  They will appreciate the chance to compete for your business.
  2. Promote Your Banker:  If you are happy with the service you receive from your bank, compliment your banker in private and public.  Consider allowing your banker to publicize the financing they provided for your project (at their expense, of course).  When you talk to your fellow borrowers, recommend your banker for any financing needs they may have.  Ask your friends and associates to mention your name in conversation with your banker or, better yet, make the introduction to your banker.

We’ve completed our study of the keys to a productive borrowing relationship which include:

  • Keep Your Lender Close
  • Be Open and Honest
  • Cultivate Mutual Understanding
  • Broker Peace
  • Be Loyal to your Bank
  • Promote Your Banker

Now go out and build an excellent relationship with your lender!

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About Michael Shelton

Your Business Coach Facilitating Delegation and Work Group Engagement Michael Shelton has over twenty-five years of business and military accomplishments, including extensive experience with one of the largest, publicly traded real estate investment trusts (REIT). He is a qualified business coach with assignments in cross-functional work group management, strategic planning, unit leadership, joint venture acquisitions, executive education, mentoring, training and merger integration. Michael has accumulated best practices for building committed work groups from more than $4 billion of capital markets transactions and commercial property development. He served as a commissioned officer and helicopter pilot in the U.S. Army, and earned his MBA from The University of Arizona. Michael has served as a major conference panelist and is the author of Cash Flow Rich, Winning Ways to Evaluate and Finance Real Estate. Today, he helps business owners get more work group engagement as President and CEO of Shelton Business Services, LLC in Scottsdale, Arizona. Disclaimer: I don't offer investment, legal or tax advice. Talk to your broker, accountant or lawyer for investment, tax and legal help. I might own stock in the companies I mention on-line. My posts, tweets and other on-line activity are my personal thoughts and don't represent my employer or company.
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