Is Anyone Happy With Their Bank?
We don’t want to appear to be down on banks. We all know they are an important part of our daily life and the smooth operation of our business, as well. Let us be very clear – without banks, The UnBankers wouldn’t be able to do what we do for our small and mid-market clients. We can all agree though; not all banks are the same and not all bank reps are the same. In the end, convenience, competitiveness and competence are the most important aspects when dealing with a bank.
When it comes to simple daily or monthly transactions, most banks score high on the convenience, competitiveness and competency scale. There is a subset of bank customer who must deal with the bank at a very different level. Working on acquisitions that require financing, requiring capital for expansion into new markets, and buying equipment or real estate as part of the growth strategy – are just a few reasons why banking relationships are so important. Some clients have good experiences, but many have terrible ones. Since our inception, we have noticed that the clients who have bad experiences are the ones who didn’t have guidance, support or consultation on how to manage the process and their expectations when approaching their bank. Most don’t realize just how banks function, how many are out there, and how many are ready and willing to provide funding.
Canadians have a different mindset when it comes to accessing their bank. There is a limited amount of options in the Canadian banking landscape, so it can be frustrating when it comes to trying to figure out how to navigate the loan process, or when searching for a bank partner to grow with you and your business.
Americans have so many more options available to them. Literally hundreds of top tier banks are waiting in the wings to provide loans and debt options to those seeking funding. Most American business owners don’t realize how much capital they could access. If they knew who to talk to and what to ask for, their chances of obtaining an approval would increase exponentially. So, having a professional in your corner is extremely important.
Simply put, if you are a Canadian business, you could be talking to far more lending institutions than you thought possible. Most entrepreneurs don’t know that many of our US lenders will lend to Canadian companies. If you are an American business, there are so many lenders you have available to you, but you likely do not have the relationships required in order to connect with them directly. If business owners on both sides of the border saw the list of banks and lenders available to work with, it would overwhelm them. Therefore clients usually stick with who they’ve always known, because they just don’t have the access to, or know how to connect with this vast and varied list of banks. Being able to access far more sources would reduce the frustration and unhappiness they experience when they receive a decline from the limited banks they have always approached in the past.
We are solution providers; we are conduits and we are passionate about creating relationships that work for all parties. We don’t deem it a success unless everyone at the table is pleased with the outcome. We are in the very fortunate position where we have built solid relationships with over 150 banks and lenders, globally. Our relationships are not at the entry level. They are with the executives, the decision makers and the ones who can champion your application to ensure that it is given the attention and the APPROVAL it deserves.
We know who the best of the best is, and we know who is lending out all the money. Those are pretty good components when forging the perfect client/bank relationship.
It’s our goal as The UnBankers, to deliver as many options as possible and provide access to all lenders and their money. When we do that, it’s easier to turn frustration into satisfaction. You CAN BE HAPPY with your bank when you have the right products, the right support and the right (un)banker.
By Anthony De Almeida