Keep lender communication line active

In this busy season it's easy to lose touch with some of your valued partners as communication falls by the wayside, whether it's your employees, your landlord, your banker, or any number of people important to your business. Communication is always important to maintain, but today Ag Finance Advisor Tim Brhel urges you in particular to keep the doors of communication open to your lender, even during busy and/or prosperous times.

Keeping your lender in the loop offers them peace of mind and helps position your operation for the future. Tim recommends referring to these three steps when it comes to lender communication:

  1. Define the "why" and the goal of the relationship
  2. Schedule meetings and calls with your lender (and keep them)
  3. Have up-to-date, accurate and useful information on hand to answer your lender's questions

Hear more detail about these steps as Tim explains them to ag broadcaster Dewey Nelson.