Before You Borrow, Meet

Smart businesspeople recognize the value of good financial advice. Your banker spends all day considering the ins and outs of business growth, and when it comes to helping their customers succeed, they’re only too happy to share. Meeting months, even years, in advance of a new business venture can improve the odds of reaching your immediate and long-term business goals. Bringing your banker into the discussion early in the planning process gives you access to a wellspring of experienced business advice on topics such as anticipating cash flow needs, establishing a framework for sound financial analysis, and identifying the right lending tools when the time comes for more capital.

‍“Meeting with a loan officer is a great way to make sure that you’re ready to borrow and that your closing will go smoothly," says Aimee Cook, VP of Credit and Internal Auditing

“Meeting with a loan officer is a great way to discuss your business and how you want it to grow,” says Bank of St. Francisville Vice President Commercial and Real Estate Lender Aimee Cook. “The discussion allows us to have an open dialogue and plan together. We want to be able to explain our process to ensure complete transparency. This doesn’t have to be in person. You can call us, or we can begin an email dialogue.”

Meeting in advance with a loan officer allows customers to review the steps and requirements associated with financing a new or existing business, purchasing investment property, purchasing equipment or leveraging existing collateral to expand a business. BSF also offers working lines of credit that allow a business to access available funds when needed.

“There are all sorts of ways to structure a loan, and we want to be sure our customers are getting into the right products,” says Cook. “We want them to have as competitive a rate as possible.”

For those interested in buying a business or piece of property, a preliminary meeting will reveal the expected monthly payment and the steps involved in the borrowing process, from obtaining an appraisal to understanding costs.

“It’s really helpful for a customer to understand the process and the timeframe,” says Cook.

For borrowers interested in a business loan or a line of credit, Cook says a loan officer will review the business’s financials to see what lending products dovetail best with cash flow and immediate goals.

“Every customer is different,” Cook says. “Sitting down with us gives us the opportunity to tailor a loan in a way that works best for you.”

Ready to get started on buying a home or expanding a business? Let’s talk! Click HERE to contact us.

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