The Benefits of Building a Relationship With Your Lenderadmin
Our goal at Fast Capital is to partner with business owners and build a solid relationship. Yes, it sounds cliché. But it doesn’t make it less true. We want to help them by providing capital for a multitude of reasons; new equipment, inventory, expansion, or simply working capital during slower times in their businesses. As our goal is to forge a strong union with you, it should be your goal too. Building a relationship with your lender is just smart business.
Trust is earned. Of course, if you’ve had a bad experience with a lending company you’re not going to stick around. Barring that, when you skip from one lender to another, you’re not permitting the opportunity to develop confidence in them. Honesty is something that is not only desired, but necessary when it comes to your business. You’re sharing details of your business and need someone that you can count on that has your best interest at heart.
You will not only be looking for money from your lender, but you should also be open to advice. And trust works both ways. Be open and honest and expect the same from your lender. Don’t dismiss suggestions when it comes to the best way to move your business forward.
When your lender is familiar with you and your business, they are aware of the ups and downs of your business. They’re mindful that in the winter, your workload is lighter but that it’ll be picking up come March. Things like accounts receivable are no secret to them because they know your history. Your payment history has also given you accountability. This may give you special considerations in the future.
Business advisers here at Fast Capital never want to “sell” you the capital you need. It’s more important to build the relationship… to do what’s best for your business. And while you may not always get the results you were looking for, have an open mind and ear. It’s important to be willing to listen to the advice that’s being offered. If we think you may have a better option, including not taking capital, we will tell you. It’s more important to us that you stay ahead in your business. We realize that integrity wins over profits.
Don’t get me wrong, all lenders need to make money as well. They are running businesses just like you. That doesn’t mean you should be taken advantage of, however. The bottom line: Take all things into account and not just the bottom line.