Tips for Business Owners To Re-Build Bank Relationships

The pandemic’s impact on businesses was widespread causing strained banking relationships for many. To regain trust and access to bank financing once again, in addition to fixing whatever problems the business had, start by updating your financial records and having your accounting systems buckled up to produce the financial information banks require.

Reach out to your former bank and initiate open communication. Honesty and transparency are vital in re-establishing credibility.

  • Demonstrate how you’ve adapted your business model for recovery.
  • Explain the steps you’ve taken to mitigate risks.
  • Outline your revised growth strategy. Remember, banks focus on leverage and profitability.

You can also consider exploring relationships with new banks that may be more open to working with your company. Rebuilding banking relationships takes time, dedication and a proactive approach. Addressing the root causes leading to your bank exit and implementing a solid turnaround plan will increase your chances of successfully re-establishing your banking relationships and ensure the long-term financial health of your business.

Whatever bank relationship you form (with your old bank or with a new bank), continue to monitor your financial performance, adhere to covenants and make business decisions that promote stability.

About Celtic Capital
Companies looking for working capital to cover operating expenses, fund growth, increase buying power and take advantage of vendor discounts and rebates turn to Celtic Capital. With an appetite for the more complex transactions, Celtic Capital has a history of success in crafting creative, flexible asset based financing solutions from $500,000 to $5 million with no financial covenants.

As an independent lender, working with companies nationwide, Celtic Capital is willing and able to alter price and deal structure and expand lines of credit to handle its clients’ increased revenues; and when cash flow is an issue, will look toward providing an inventory facility to help offset lost cash flow.

If you know of, or are, a business in need of non-traditional financing, contact Mark Hafner at 800.742.0733 or, or visit us at