Banks and credit unions have the funding; small-to-medium sized businesses need it. So how come the two sides remain disconnected?
By teaming up with non-bank lending partners, banks can preserve and enhance customer relationships even if they have to deny credit requests.
Miami banker Richard Dailey says community banks focused on small business customers can do well in today’s market.
Converting small business prospects into customers requires listening to customers in the initial interaction, offering loans when appropriate and being clear on your value proposition.
Achieving success in small business banking requires combining retail and commercial capabilities into a package that effectively serves the needs of these customers.
While small businesses may not be seeking many loans these days, they still need behind-the-scenes payment and security services.
Turning an indifferent small business prospect into a new and satisfied client requires several key best practices, such as being clear about your value proposition.
M&T Bank’s Sam Guerrieri says growth can still be generated from small business customers if the bank can service all facets of the relationship.