If you’re in the commercial banking business, you know all too well that getting small businesses access to capital is getting harder than ever. Some of this is completely out of bankers’ control. You don’t get to make or break the requirements around who qualifies for a bank loan.
But unfortunately, you are the one who often must deliver the news that your customer didn’t make the cut.
Not only does your customer lose out on a critical piece of funding that could keep it open for business or growing, but you also could lose the larger banking relationship if you can’t come up with a solution. So while their financial situation may be temporary, you don’t have a short-term solution to offer.
Given this common scenario – it’s no surprise, then, that people on both sides of the table are looking at alternative ways to finance small business. No one wants to turn down another customer—a client that could potentially bring the bank other lucrative relationships and sales.
The problem is bankers often don’t know where to look and whom to trust when it comes to considering fast and flexible facilities. Additionally, evaluating different solutions providers can be overwhelming.
Your task, then, is to find a credible, adaptable finance partner that can accommodate all the deals your bank can’t—and complete them in a way that makes you look good. After all, this is your customer. So what should you look for in a financing partner? At Gibraltar Business Capital, we encourage and live up to the following criteria you should expect:
- A well-capitalized company comfortable working with a variety of deal sizes (for example, $250,000 to $10 million)
- Specialty in delivering fast, flexible, easy-exit credit facilities at any juncture in the business cycle
- Competitive advance rates that you (and your customer) can feel good about
- Experience collaborating with banks on challenging or complex deals in a careful way that preserves the banking relationship
- Creative problem-solving for clients with tricky credit issues
Remember, it’s all about maintaining your customers’ loyalty, even when they’re temporarily un-bankable. It’s being able to know what alternative financing partner you can count on, so you can say “yes” to viable clients that you might have had to turn down in the past. It’s about moving beyond institutional constraints to save valuable banking relationships and help your long-term customers thrive.
Ask Gibraltar about reliable, flexible non-bank financing for your existing customers—and be a hero to those companies.