As a busy entrepreneur, your relationship with your business banker should feel like a true partnership. They should be more than someone who opens accounts or processes loans—they should be a trusted advisor who helps you navigate the financial side of your business with confidence.
If you haven’t heard from your banker lately, that’s a red flag. Here’s what they should be telling you—and if they’re not, it’s time to reach out or reconsider your banking relationship.
1. Cash Flow Isn’t Just Numbers—It’s Your Business Lifeline
Your banker should be helping you manage your cash flow proactively. This includes offering advice on how to handle seasonal income fluctuations, setting up tools like automated invoicing or payment reminders, and ensuring you have overdraft protection or a line of credit in place for unexpected expenses.
If your banker isn’t helping you see patterns in your cash flow or suggesting ways to optimize it, you could be missing out on valuable opportunities to grow or stabilize your business.
2. Loans and Credit Lines: Do You Know Your Options?
Have you discussed financing options with your banker recently? If not, they may be overlooking a key aspect of your financial success. Whether you’re considering a new line of credit, refinancing existing loans, or funding a new project, your banker should be initiating these conversations and presenting options that are tailored to your business goals.
Even if you don’t need financing now, your banker should regularly check in to update you on interest rate trends, new lending programs, or upcoming opportunities to save money.
3. Protecting Your Business from Fraud Is Non-Negotiable
Fraud prevention and cybersecurity are critical in today’s digital world. A proactive banker should be teaching you about:
Fraud monitoring tools: Services like Positive Pay to protect against unauthorized checks.
Online security best practices: Using multi-factor authentication and secure portals.
Red flags to watch for: Recognizing phishing scams and other common threats.
If these conversations aren’t happening, it’s time to ask your banker how they’re safeguarding your accounts and educating their clients.
4. Idle Funds? Let’s Make Them Work for You
If your business regularly carries a cash reserve, those funds should be earning interest or growing in a way that aligns with your financial strategy. Your banker should explain options like:
Money market accounts or CDs: For earning interest on surplus cash.
Sweep accounts: Automatically transferring excess funds to high-yield accounts.
They should also be reviewing these accounts with you periodically to ensure they’re still the best fit for your needs. If you haven’t had this conversation, you could be leaving money on the table.
5. The Power of Networking: Leveraging Your Banker’s Connections
A great banker isn’t just a financial resource—they’re also a community connector. They should be introducing you to other business owners, professional organizations, and resources in your area.
Have you asked your banker for referrals to accountants, lawyers, or marketing professionals? Have they invited you to events or groups like FAB that are designed to empower and connect entrepreneurs? If not, they may not be fully invested in your success.
What If You Haven’t Heard From Your Banker?
If your banker isn’t initiating these conversations, don’t wait for them to pick up the phone.
Take charge and ask questions like:
“What services or tools could help me manage my cash flow better?”
“How can I maximize the use of idle funds in my accounts?”
“What financing options would you recommend for my current goals?”
“What resources or connections can you provide to help me grow my business?”
A good banker will welcome these discussions and follow up with actionable insights. But if you feel like you’re doing all the work to maintain the relationship, it might be time to explore other options. Remember, you deserve a banker who is proactive, responsive, and invested in your success.
Why This Matters to FAB
As the founder of FAB and your local business banker, I’m passionate about equipping women entrepreneurs with the knowledge, tools, and connections they need to thrive. I’ve seen firsthand how the right banking relationship can transform a business, and I want every FAB member to feel empowered to ask for—and expect—the support they deserve.
If your banker isn’t meeting your needs, let’s talk. Your success is too important to settle for anything less.
Here’s to building businesses, breaking barriers, and thriving together! 💪
Jaylen Gilmore
FAB Founder