A: Always choose a bank that understands your industry, especially if you are in construction.
B: Bring your banker on board as part of your trusted advisory team. Your banker should join your lawyer, accountant, and financial planner to advise you about business decisions.
C: Communicate with your banker regularly about large and small changes in your firm. For instance, let the bank know when you get a big contract, sign a new lease, or enter a new market.
D: Don’t wait to be in distress to seek a loan; get credit when things are good.
*Take-aways from “How to Get Along With Your Business Banker” (chapter business practice dinner, 4/21/16)