By: Don Kasle

Don Kasle — Tue, 17 Dec 2019 19:22:07 +0000

Dave — As a former bank CEO who “grew up” on the commercial lending side of the bank, I can assure you — BANKERS HATE SURPRISES. The key to a great relationship with the bank is constant and consistent updates. You should share not only good news, but bad news as soon as you are aware of it. You should meet regularly with your banker. My favorite banker story — and it happened to me early in my career: A stranger came in to see me at the bank. He said he wanted to tell me about his company, but was not there to open an account. He pulled out his financials and went over them for about a half hour. He then said, “I want someday to be a borrowing customer so I’ll just come back in the future and show you how we have done.” He repeated this ritual 3 more times over the next 9 months Then, one day, about a year after his first meeting, he came in, reviewed his financials and said, “Now that you know about me and have tracked my progress over the past year, I’d like to set up a line of credit.” It was an easy matter to accommodate his request and he became one of my best (and FAVORITE) customers. He kept up that great communication after he was on board,and we were able to work with him during both good times and tough times as well. There were NEVER any surprises and he kept us well informed.

Comments on: Let’s talk about your banking relationship

By: Don Kasle