When seeking to engage in a new business relationship with a bank, there are things you can do to make you and your business more attractive to them. Beyond getting a new suit and visiting the hair stylist, there are things you can address that can significantly impact your chances at securing a loan. Presenting yourself well to a prospective lender is often the difference between approval and rejection.

Banks want to minimize risk. Like any business, their goal is to make money. Therefore, it is imperative that you do your homework before meeting with a banker.

First off, make an appointment with the banker; don’t be a walk-in. You will get more respect right off the bat, because you have shown the banker respect and demonstrated that you value his time. You are also more likely to get his full attention, and not catch him in the midst of other work. And to that end, typically the best time for scheduling appointments in the middle of the week, in the afternoon.

Most banks offer an array of products, and most of them will sound useful when the banker is presenting them to you. So do your homework ahead of time. Research them online. Talk to knowledgeable colleagues. Then show up for your appointment knowing what you want, and what you don’t want. Bankers are salespeople; they may try to sell you something you don’t really need. Don’t be afraid to refuse products you don’t want or need; your refusal should not impact the bank’s decision to loan you money.

While meeting with bankers, you should be assessing the bank’s personality. Continue comparison shopping until you find one that feels right for you and your business. Based on the size and industry of your company, would a smaller community bank be a better fit than a large regional or national lender? Ask the banker questions in order to get a feel for their personality:

• Who do they lend to?
• What are their lending practices in regard to businesses of your size?
• Will they provide you with references?

Once you’ve chosen a commercial bank, are they your bank for life? While there is something to be said for long-term relationships with your lending institution, you must observe whether your bank is continuing to meet your needs, as your business evolves. As banks nationwide continue to merge and acquire one another, new products and better rates can emerge. Don’t be afraid to leave your bank if you find another that will better meet your needs. But also, don’t be afraid to ask your current bank if they will adjust their rates as a way of keeping your business. Many banks will accommodate such a request, as they realize it is easier and more profitable to keep old clients happy than it is to find new ones.

Doing your homework will pay off, before and during a banking relationship. You will present yourself as confident and knowledgeable. You will show the banker courtesy and respect, and you can expect the same in return. And most importantly, you will get what you are seeking – a fair and helpful banking relationship.