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Befriending your banker
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February 16, 2000: 2:29 p.m. ET
It may be surprising what getting to know your business banker can do
By Jane Applegate
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NEW YORK (CNNfn) - In today's volatile banking environment, big banks are merging and bankers often change jobs. Unfamiliar with your business, your new banker may be wary of making a loan or increasing your credit line.
That's why it's important to keep in close touch with your banker. If someone new is assigned to your business account, set up a time to meet. Be sure to let your banker know if something significant happens, whether it's good or bad news.
When things are rough, small business owners tend to clam up. But honesty is truly the best policy. They may be surprised, but invite your banker or branch manager to tour your facility. Attaching faces to the numbers is very helpful, my banker friends tell me. Establishing a strong relationship with your banker is important.
You may want to increase your good will by referring new customers to the bank, or just saying nice things about your business banker to colleagues.
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