Five Things Your Bank Better Offer

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Industry Expertise
Not all banks are comfortable financing companies in certain industries or in certain stages of their growth cycles, notes Bob Seiwert, director of the Center for Commercial Lending and Business Banking. The good news is, in recent years, large national banks have brought on advisers specifically to serve small-business clients. Determine up front if you and the bank are a good fit. Example: If yours is a relatively young company, find out if the lender has an established Small Business Administration loan-guarantee department. Some banks have branches that cater to specific industries; Citibank recently opened a branch in Napa, Calif., to serve wine-industry entrepreneurs. Ask a lot of questions and don't be tantalized by low rates--cheap is nice, but not at the expense of valuable expertise.

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