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ey rWh y Dean P b ffs oy tionship banking pa la yvee that affect both your business and personal life. In any decision, you need as nt. The more information a banker has about business owners and their goals, the ons to reach them. l this approach can be. The family first got or Valley Bank, a few years ago when they froe’s Market, into East Montgomery. As a business owner, much information as more effective a bank The Renfroe Family is to know Dean Peevy, a considered expanding you make decisions every day possible. Banking is no differe er can be when offering soluti an example of how successfu Montgomery-based banker f their retail grocery store, Ren Why is it important for business owners to have personal relationships with their banke It’s simple. Understanding a business typically comes from open and honest conversations between business own t each other bankers. Those conversations are easier when you know and trus . When your banker understands you business goals, the banker can be more effective when presenting bank solutions. How can your banker help with business planning? Each business is different. From cash flow cycles and seasonality to capital needs and expansion plans, each busi unique set of circumstances. When a banker understands your business’ one-, three- and five-year plans, it’s easi recommend potential solutions for those specific circumstances. er But, the most effective factor in business planning is an ongoing, open line of communication with your bank . It easier for your banker to respond when you have urgent banking needs, instead of having to learn or re-learn you and industry when the need is time sensitive. Should a banker look at a business owner’s personal finances, too? At Valley, we review personal finances in our work with a business owner because it helps with getting a clear pict customer’s overall banking needs. As an example, business owners are typically asked to provide personal guaran for a loan. With this story in mind, we sat down with Valley’s Peevy to learn more about why a business customer’s banking relationship should be more than just transactional. What steps should a business owner take to get to know his or her banker? er We truly put that responsibility on the bank . A good banker will consistently put forth an effort to communicate w clients and get to know them personally. Your banker should regularly be initiating meetings with you to discuss y and future plans. After listening to the Renfroe’s plans for growth, Valley developed multiple financing options to help fund the store’s expansion. rs? ers and their r personal and business customers in ness has its own er for the banker to makes it much r entire business ure of the tees when applying ith his or her our financial needs Dean Peevy is First Vice President and Commercial Team Leader for Valley National Bank, with his work for the Bank focusing on Montgomery. For more information, call Dean at 334-270-3003 or visit www.valley.com. )('&%$(#"!! ( " "!( " ( ( ( "!( ( ( "!( ( ( !!( (