TFU 42: Truth & Accountability with Lenders: The importance of discussing financial issues with your lenders‪.‬ The Funding University | Where Business Learns About Funding

In this month’s podcast, we’re going to focus on something different. I’d like to talk about Truth & Accountability with Lenders. It’s incredibly important you communicate with your lender about your finances not only in times when finances are tight but in times when things are going well. Your lender wants you to be successful because they have a vested interest in your repayment, but even beyond that, your lender may have the ability to help you get things back on track during a rough patch. When things are going well, that’s the perfect time to talk to your lender about expansion, M&A, or even putting plans in place to prepare for the possibility of a downturn. 

Your lender should be your champion and a resource to help your business be successful, but it all comes down to communication. Like in any relationship, you’ve got be open about what’s working, what’s not working, and what you can do to improve that line of communication. As you know, business success is all about communication. 

I hope you enjoy this month’s podcast and thank you for the steady stream of questions and suggestions.

 
If you have a question you’d like answered in our podcast, please email us at info@thefundinguniversity.com. The Funding University team and I look forward to hearing from you.