Our handout How to Get a Better Deal at the Bank features tips and advice on things you can do to ensure you are getting the biggest bang out of your bank. When looking for a bank to serve your company, remember that is it up to them to show you that they want your business.
DO ask for references from other businesses when shopping for a new bank.
DO find the best banker for your needs. Ensure you interview bankers to find the best fit.
DO be prepared! A bank may require you to have financial statements, business plans or possible inventory and asset information before they make their decision.
DO know exactly what you need when approaching the bank. Be ready to negotiate terms if needed.
DO prepare to use collateral.
DO maintain a strong credit rating.
DO shop for the best service fees. See if your bank offers a package deal to lower overall costs.
EMPOWERING ENTREPRENEURS - BANKING FOR SMALL BUSINESSES
Watch this short video prepared by our Manitoba office.
DON'T choose a bank simply because the location is convenient.
DON'T assume a specialized commercial branch is your best option.
DON'T sign a contract or agreement without fully reading and understanding it.
These are just some of the tips on how you can, with a little work, get the best deal for your business when dealing with banks.