Brian Gold, V.P. Commercial Lending, bgold@northshorebank.com
It goes without saying that commercial lending has changed over the past two to three years. Regulation changes, loan losses, and mergers and acquisitions have altered the way banks underwrite all loans. Due to these changes, you may find yourself considering a change in your banking relationship as well.
I want to share an article by Janet Jones Kendall entitled “How to choose a commercial banker” that ran in the Business Journal with you. I found the characteristics to look for in a banker, including one who shows “professionalism, expertise, and service,” to be right on the mark. Today, there is very little difference in the products and services from one bank to another, so the difference maker is often the individual banker and the quality of service they provide.
Yes, service is a concept that gets tossed around all the time. But what does it really mean? To me, service is being responsive to requests, returning phone calls and emails quickly, asking good questions, being proactive with ideas, and taking the time to understand the uniqueness of each business customer. Ultimately, you have to trust that your banker knows you, your business, and your needs, and is able to deliver solutions quickly.
The only thing I’d add to what Janet has offered is the importance of good communication between you and your banker. Your relationship with your banker should mean a free flow of information and ideas.
Open communication means sharing both good news and bad news early on and throughout your relationship. The more your banker knows about what’s going on, the more they will be able to help you.
Ultimately, the relationship between a company and its banker is a vital one as both rely on each other for success and growth. Please consider North Shore Bank as a partner who you can count on to work with you to grow your business.
Like this:
Be the first to like this post.