Maintain a good relationship with your bank even in times of crisis

The relationship between representatives of the banking community and business makers has always been a bit fragile, especially in times of crisis or difficulties. The context remains quite tense and the wishes of some (supporters) go against the indicators of others (banks that want to protect themselves from risk). Here are some tips to maintain a good relationship with your bank, which are difficult to implement.

snake biting its tail

Historically, companies, although viable, have been denied bank loans when these would have allowed them to save, expand, invest, and hire more for the company.

This is sometimes a situation that is tied to only an economic context that does not allow for risk-taking by banks. Before issuing credit to a company when the economy is in a bit of a headwind, it must weigh the pros and cons, whatever it may be. This is called a “credit crunch” or “credit rationing”. Although various governments have provided many guarantees, the fact that this phenomenon exists is more important during a financial or health crisis!

Especially since little is known about the nature of the relationship between banks and companies that broadens their scope. A research article already published in late 2013 by the National Bureau of Economic Research ( showed that companies typically borrowed more from banks with which they had long-term relationships, specializing in transactions. net finance as compared to banks with There is evidence that relationships can be considered peaceful even in times of economic difficulties, if we heed some useful advice.

Know about everyone’s expectations

It is better to get to know each other better first to avoid setting up an atmosphere of mistrust. It is important to work in perfect harmony to establish the best possible relationship with your bank.

Too often, it is a lack of understanding of each other’s needs that fails. On the one hand, entrepreneurs expect banks to take into account a certain recognition and belief commensurate with their human investment in the entrepreneurial adventure (in terms of time, difficulty, etc.). On the other hand, banks, which often focus purely on the financial aspects, must understand that this is not a question of laxity in risk checks, but of a different appreciation of the project, and more complete, an extension of With qualitative criteria. It remains to be noted that banks are private, for-profit organizations that expect the entrepreneur to have a sound knowledge of the risks and a clear financial vision of their business. Banking organizations should be able to specifically assess these forecasts, in order to analyze the results in case such and such a parameter is not met.

As an entrepreneur, it is therefore up to you to demonstrate your vision, prove your leadership qualities and your project potential. Businesses must learn to sell themselves and build complete files by establishing reliable and realistic business and profitability forecasts. This is what will make a difference in a gloomy economic context, and it is at this cost that banks will trust you.

local dialogue and suitable negotiator

Very often, the relationship of trust between the bank and the company requires a good understanding between the banker and the entrepreneur. This is why regular dialogue between two people is essential to allow harmony, even as the entrepreneur returns to his bubble to manage daily life.

This is especially true at a time when each of the parties needs a lasting trust. As far as banks are concerned, the establishment of dedicated negotiators, business and professional advisors remains an interesting reality. Intended to provide customized answers to the entrepreneurs, this specialist has been placed in several banking establishments.

It should be noted that entities such as “corporate credit intermediaries” make it possible to reconcile the interests of the two bodies. Another negotiator who should, on priority, facilitate bank-business relations.

5 Tips for Maintaining a Good Bank-Company Relationship

  1. Build an atmosphere of trust with your banker by communicating transparently.
  2. Be sure of your project and have a clear financial vision.
  3. Learn How to Sell Yourself: Establish a Quality Profitability Forecast
  4. Identify the appropriate and/or specialist liaison within your agency.
  5. Chat, call your banker frequently, do regular telephone updates, clarify your expectations.

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