One of the best resources a business owner can use is to tap into the knowledge of their funding partner. Many of our customers will ask advice on buying real estate, investing, tax strategies that can save their business income, and consult with us on equipment to determine if the return on investment is worth the risk. Any decent salesperson can make a sale, but the truly valuable ones can give their clients insightful advice that helps their business prosper.

Does your current banker or funding partner…

  • Advise you on year-end tax strategies?
  • Advise you on what the Fed is doing with rates and how that impacts your specific finances?
  • Give you tips on how you can achieve a higher rate of return on your cash?
  • Give you strategic advice when it comes to purchasing real estate?
  • Consult with you on ways to improve your credit/financial ratios so you qualify for better portfolios in the future?

And the most important question: Has your financial representative worked with other businesses in your industry? The expertise your financial representative has specific to your industry can be invaluable as they can share other challenges their clients have had in your industry and how to solve them. Whether it be challenges in getting material, challenges in filling labor positions, or even knowledge about what the current business climate looks like.

We consult with 100s of business owners each week and our knowledge gained from helping them is a valuable resource for our other clients. Even though we specialize in funding equipment, in some recent conversations we were able to help a client find a high yield savings account for their working capital yielding over 3.5%, help another client that wasn’t aware they were exempt from sales tax, and gave a client a referral of a vendor that had equipment better suited to their production needs.

If you’re not getting similar insight from your current financing partners, reach out and ask for their insight and see if they are able to be a broader resource for you.  If they aren’t able to, it’s probably worth looking for an additional financing partner.