We recently had Scouted member Enterprise Bank & Trust share their insight on how a strong banking relationship can help achieve all business goals.

In today’s fast-paced business landscape, having a solid relationship with your financial partner can be a game-changer for St. Louis small and mid-size businesses striving to achieve growth in an unstable market. Beyond simply managing transactions, a strategic partnership with your bank can offer a variety of benefits. From tailored financial solutions to valuable insights and advice, your choice in a financial partner can significantly impact your financial strategy, cash flow, ability to fund expansion and ultimately your long-term success.

With many different types of financial institutions available, selecting a bank is seemingly complicated by the many free services and low-rate offers advertised particularly by online-only banks. One of the best places to start when making your banking decision is understanding the difference between a transactional bank and a bank that provides a consultative partnership.

Why a Relationship With Your Banker Matters

Transactional banks can be thought of as offering basic banking services for free or at discounted rates. This business model focuses on delivering limited and repetitive banking products at a low cost. By contrast, a consultative bank provides advice, guidance and enhanced services designed to maximize a client’s long-term financial and business success.

Providing a higher level of service, consultative bankers get to know their clients in a way online-only banks and many large financial institutions simply cannot. Offering much more than online statements and an occasional satisfaction survey, consultative banks are designed to be an integral part of a business’ financial team offering financial guidance, strategic advice and tailored financing options.

The technical expertise that a consultative banker brings to the relationship can result in many benefits, including favorable interest rates, low fees and flexible terms.

Small business owners can also benefit from other services offered by Enterprise Bank & Trust, including:

• SBA lending: Providing necessary capital to grow your business
• 401(k)*: Ramp up your recruitment by offering competitive benefits, leave the administrative work and fiduciary responsibility to us
• Private Banking services: Customized solutions to successfully manage your personal finances 
• And more!

Consultative Partnerships Add Value To Your Business

Additionally, a consultative bank should provide value-added extras such as educational opportunities and research reports on topics critical to small businesses. A great example is Enterprise’s learning series, Enterprise University. These popular educational courses cover best practices and new trends in leadership and management, finance and operations, human resources, sales and marketing and other topics of interest to business owners. Because expertise in these key functions is critical to operating any business, these courses are designed to quickly build critical skills and equip organizations for the future all at no cost to attendees.

And, because comparing notes with and speaking to other business owners can be very helpful, Enterprise provides access to events, webinars, and other networking opportunities where company leaders can make connections with peers.

Take Advantage of Expert Guidance

Whether you are looking to expand operations, increase cash flow, or invest in new opportunities, don’t underestimate the value of partnering with a bank that understands your unique needs and is committed to your success.

Take the first step today by connecting with one of our St. Louis area bankers to learn more about how a consultative banker and a relationship with Enterprise can make a critical difference to your business.


Member FDIC

*Investment products offered through Enterprise Bank & Trust are: not insured by the FDIC, not insured by any Federal Government Agency, not deposits or other obligations of Enterprise Bank & Trust and are not guaranteed by Enterprise Bank & Trust or any of its affiliates, and may lose value.

To learn more about how to build banking relationships and your business goals contact Enterprise Bank & Trust today!