So you have found a bank for your field service business – or have you? Click here for tips on finding the perfect bank for your field service management business.
And you know what is required of you to receive a loan – don’t know the requirements? Click here for requirements to receive a loan or here for information on SBA loans.
Now it comes time for one of the most important steps: building a relationship with your banker.
You want to, and should, build a relationship with your banker. They are someone you will want to feel comfortable with. Bankers handle a lot of your finances which are the life source of your business. You can’t do business if you have no financial backing, so a strong relationship with the person handling your financial backing only makes sense.
The trust you put in to the relationship is the trust you will get out. I know it sounds cheesy, but it’s true. If you are open and honest, trusting and pleasant, your banker will relate that to how you run your business. If you are standoffish, skeptical, closed off, or even unfriendly towards your banker, they may react the wrong way and worry about helping you in times of financial need.
Establishing a relationship with your banker is also a good idea in case you are ever faced with a financial problem in your business. If you ever do have a problem, tell your banker immediately. Don’t surprise them. They may no longer trust you and you may become an unreliable client in their eyes. Being upfront and honest about any issues you face will not only make you look better, but there may also be a fix that wouldn’t be there if you waited
No one wants to be surprised with bad news, especially your banker, so show them respect and be upfront. They don’t want you to have issues anymore then you want to have issues. Remember, they have an investment in your field service business too, and they want to see it succeed just as much as you do.
In the end, find someone you cannot only work with but also relate to and put your trust in. Check out a few different banks, ask friends who they use, or do some research online. Take your time finding the banker that will fit your business the best. As I said earlier, your finances are the life source of your field service business. Make sure they are in good hands.