Locking up a better bank partnership

Many business obstacles can be avoided through better communication with lenders. Here are some tips on building a rewarding relationship with your bank.

NAB Short Course - Sponsored Feature

This is an excerpt from Business Spectator’s new short course on Financing Growth. Click here to read the rest of the article, plus the remaining nine articles in the course.

Why you should keep your lenders in the loop

Does your business have a good line of communication with your bank?

It may not sound important, but keeping your lender in the loop on an ongoing basis should be considered a priority.

Indeed, with the number of businesses being forced into administration rising, many finance industry experts believe that this could be reduced if more businesses had better communication with their lenders.

Banks should be considered as more than just a finance provider – they should also be seen as your business partner, taking the time to understand your business, your industry and your personal and business aspirations. As such it's important that businesses treat their bank like a business partner by keeping them up-to-date with potential issues that may impact the business.

Click here to read the rest of the article, plus the remaining nine articles in the course.