this post was submitted on 01 Nov 2023
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I’ve take different approaches throughout the years, but my advice to anyone in your shoes is go regional. The larger, national banks haven’t always provided the best service in my experience. There’s no personal relationship, and they tend to be more rigid with any requests, lines of credit, etc.
The smaller, local banks often have the relationships, flexibility, and a hands on approach, but haven’t always had the room to grow at the pace of the business. Personally, I find the sweet spot to be the regional banks. They offer the best of both worlds. You may want to identify 3-5 regionals in your area that have credibility with the community, and from there, see which ones sound like they best cater to your specific needs. Don’t be shy about going in and speaking with them in person, as it will give you an idea of what you might expect from them in the long-run.
A couple specific examples of banks that I’ve had great experiences with and bank to this day, is Whitney Bank (Hancock Whitney) and Frost Bank. Unless you’re located in the Gulf of Mexico Region, those may not be available to you, but at least you’ll have something to reference. Hope that helps, and good luck with the new business.