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News & Events - Company News - March 15, 2021 -

How to Build a Strong Relationship with Your Bank

Relationship with Your Bank

A CFO is not only responsible for the financial operations of a company, but also the relationship that it has with the bank and other lenders. Having access to an expert CFO who knows best practices and strategies for negotiating loan agreement deals, understanding bank requirements, and advising on the structure of your banking agreement is essential. These proficiencies ensure that your company has a solid banking structure, beneficial loan agreements and a trusted relationship with the banks you work with.

Our seasoned CFO professionals have proficient knowledge and experience with managing bank relations to ensure your rapport with the bank is mutually beneficial — creating a strong, trusted relationship. In building a good relationship with your bank and lenders, it’s critical that a CFO tells the story of your business and help you get the funds you need. A factor that plays a big part in this process is having a thorough understanding of how the bank evaluates risk and what kind of impacts that will have on the size of your loan.

Our part-time CFOs assist our clients with their financial and business plans by helping them understand the corporate requirements for various banking needs. Although our CFOs are hired on a fractional basis, their job is to build strong, lasting relationships with key contacts within the financial institutions you work with. We work as an extension of your financial team to bridge the gap between your company and your bank.

It is important to ensure that all financial propositions and structures work in compliance with the bank’s guidelines and protocols. Our CFOs examine your current banking agreements including:

· Term loans
· Operating lines
· Foreign exchange facilities
· Credit-card and cash management services

We suggest improvements that are advantageous for your company’s position with the bank, within the specific institution’s parameters.

Having a Part Time CFO financial professional on-call allows your company access to knowledgeable experts that you can turn to when financial matters arise with your banking institution.

Corporate finance is a critical aspect of any business. Finding reliable individuals to manage this task is vital for the proper functioning of a company. If you are considering making a large investment, not happy with your current bank relationship, or are interested in overhauling your banking structure to make it more beneficial for your company, hiring a fractional CFO is the most strategic and safe way to do so. This is one of the best ways to ensure that your financial needs and bank requirements are met using best practices.

Call or email us anytime at Part Time CFO Services LLP to talk more about your Financing and Cash Flow needs and fractional CFO opportunities. (905) 376-3025 I info@parttimecfoservices.ca