- Obtaining loans, mortgages, and lines of credit to help you purchase equipment, expand facilities, finance space, and more.
- Helping you to establish lines of credit that can enable you to finance your short-term business needs, giving you access to cash for one-time expenditures (acquiring new business assets or receivables, for example) or long-term finances (like permanent working capital or cash flow management).
- Guiding you in obtaining Small Business Administration (SBA) loans, which can offer you the credit you need with lower than average down payments, longer repayment terms, and lower monthly payments.
- Helping to guide you through the bank's offerings for obtaining business credit cards, free business checking, fee-free transactions, reduced maintenance fees, and special equipment leasing offers.
- Providing you with a set of cash-management tools designed to make managing your business finances easier and more convenient.
The benefits of having one individual coordinate the entire financial portfolio of your business can prove to be invaluable in affording opportunities for obtaining better pricing-whether through loans or deposits-because of the totality of your relationship. Relationship managers can work on your behalf to internally persuade loan officers and mortgage lending professionals to look at your total banking relationship, rather than simply at isolated transactions. This can translate into great deal more leverage and open the door to preferential pricing on loan rates, mortgages, and CD rates, based upon the cumulative dollars you have invested within the institution. Beyond these obvious benefits, however, lie many others that you may be overlooking, all of which can also prove beneficial as you build and expand your business empire:
- The relationship manager can provide you with valuable advice; knowledge of your total financial picture will enable this professional to give you guidance regarding financial planning and improvements to your business structure.
- Relationship managers have a strong working knowledge of the local marketplace and have internal and external contacts for both the expansion and/or eventual sale of your business.
- Relationship managers can help you to consolidate all of your business accounts, making it easier for you to review your business finances and facilitate accounting during tax season.
About the Author
Cathleen Pratt brings world-class proficiency as a dynamic executive coach and facilitator. With twenty-eight years of experience in all continents around the globe (except Antarctica), Cate is an expert media marketer and sales strategist, with a stellar track record in new business development and consultative performance and innovation. To contact Cate, call toll free at 1-866-762-7632.
