Searching for the ideal bank for your next business loan can be a daunting task. You may be networking your colleagues, surfing the web, re-assessing present and past relationships and exploring new banking opportunities with multiple lenders. You might be looking at big and small banks that are located close by or hundreds of miles away.
If you are navigating for your next business loan to improve your business, here are some key things to consider:
- Your bank should deliver the capital you need, when you need it, to grow your business. When talking to banks about your lending requirements, ask them: Is the size of the loan you’re seeking typical of what this bank lends? And how will you be viewed by the bank? As a “one-and-done” customer? Or as the perfectly sized business they’ll want to partner with for long-term growth?
- When you choose a commercial lender, you should choose a bank you feel has the potential to build a lasting business relationship with you. Locally based community banks have lenders who take the time to understand who you are and why you do what you do. Forging a strong relationship allows them to craft financing solutions that provide the working capital you need to grow your business.
- Trust your gut. It’s worth finding a bank and a lending team that truly align with you and your business. If it doesn’t feel like the right fit, keep looking.
Strong community banks are closely tied to the people and business community around them. They exist to support the needs of the local business owner. They’re focused on helping businesses in their community thrive, because that’s how they thrive, too. Having a lender that’s integrated into your community means they will be highly responsive to every lending situation that arises.
The commercial lending team at Superior National Bank can provide comprehensive, specialized lending services for you and your business. We know there’s no one-size-fits-all approach. To learn more from one of our commercial lenders, contact us at 248.434.6000 or visit snb-t.com.