Some business owners simply choose a bank for convenience only. That decision could be costing you big time.   

Here are a few things to consider when choosing a bank for your business: 

• Does your banker have lending authority or are lending decisions made by committee?  Waiting for a loan committee to meet can cause delays in funding, lost opportunities and major frustration on your part as your needs get lost in translation from your banker to his committee.    
• Are lending decisions made at the facility where you make deposits or are decisions that affect your business made in another location? If your banker has flexibility to deal with your deposit and/or loan accounts you can spend more time on your business less time on your banking.  
• Consider a bank that caters to small business. All banks talk about being small business friendly but few are staffed to walk the walk.
• Smaller banks often provide better service to the small business owner because unlike the large banks, small banks provide one on one access to bankers that can make decisions on the spot.  
• If your bank makes you feel like a very small fish in a large ocean, it’s time to consider shopping for a new bank.