For long-term stability, you need to develop an unofficial ‘partnership’ with your financier.

To maintain good relations with your financier, make sure you:

• establish rapport and mutual confidence with the financier – if he or she is transferred, take steps to re-establish support
• conduct all business affairs professionally
• talk to the lender before making a formal application for loan funds – get to know the financier early, before assistance is required
• do all homework necessary – determine precisely what the financial needs of your business are
• display initiative when applying for finance but avoid being aggressive
• keep your financier regularly informed on progress and developments with your business by providing accurate and timely financial information
• invite your financier to visit your business premises
• ensure your bank is competitive at all times – ask and shop around to make sure you are getting a good deal
• discuss important matters in person rather than over the telephone
• take the initiative if you encounter difficulties or anticipate a problem with your loan – make an appointment to discuss the situation with the financier.