The strongest banking relationships begin long before you need financing. Two local business banking professionals share why early conversations, honest communication, and long-term partnership can pay dividends throughout the life of your business. Think of your banker not just as a lender, but as a strategic partner invested in your long-term success.

Communication is Capital

My advice to entrepreneurs launching new ventures is simple: Communicate with your lender early and often. A lender’s role should extend beyond providing capital: We are a thought partner walking alongside you throughout your financing journey. To do that effectively, we need a clear understanding of your vision and execution plan, often at a very detailed level.

Consistent, transparent communication allows lenders to help you avoid common pitfalls that can derail new businesses. The earlier those conversations begin, the better. Strong collaboration enables proactive, disciplined planning from the start.

This starts with reviewing your business plan and financial projections with your lender well before you launch. Those conversations should continue after financing is in place. Be candid about your progress and any changes to your plan so your lender can help evaluate your path forward. Open communication does not eliminate all the challenges you’ll face. Rather, it positions you to plan more effectively and pivot with confidence when needed.

Learn more about how we support entrepreneurs and small businesses at: sunrisebanks.com/business-banking.

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Before You Need a Loan

Don’t be afraid to talk to a banker early. I always tell business owners: Come talk to me before you need anything. When you start early, we can often find unexpected opportunities—such as tightening receivables or running more efficiently—so you may need less capital than you thought. And if there’s a big ask coming, we have time to prepare.

Sharing your financials with your bank is like going to the doctor. You don’t avoid the appointment just because something isn’t perfect. Your business works the same way—your financials don’t need to be flawless to start the conversation. Come in and say, “Here’s where I see my business headed. I want to be ready for it.”

You wear a lot of hats running a business, and one many owners aren’t prepared for is that of a CFO. A good banker can help fill those gaps, so find a banker you trust—you might still be sitting across from them 30 years later.

Our small business specialists are ready to help you with your financial needs through guidance, support, and service: umb.com/smallbusiness.

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Make Recognizing Opportunity Part of Your Business Plan

One trait of successful entrepreneurs is the ability to recognize opportunity and build it into a broader growth strategy. Major events, economic developments, and community milestones can create spikes in demand, but the businesses that benefit most are those that prepare in advance and view these moments as part of a long-term plan.

The 2026 Special Olympics USA Games in Minnesota generated an estimated $70 million in economic impact for the Twin Cities region. Businesses in hospitality, retail, dining, and entertainment benefited from increased spending and exposure to thousands of visitors. Similar opportunities can arise from sporting events, conventions, festivals, and community celebrations, creating new revenue streams and helping businesses reach new customers.

Successful business owners prepare by reviewing staffing levels, inventory needs, operating hours, and marketing strategies well before an event begins. They also look beyond immediate sales opportunities to strengthen their brand, demonstrate community involvement, and build lasting customer relationships.

When additional funding is needed, evaluate all financing options. Traditional bank loans can be a valuable resource, but entrepreneurs should also explore business grants and other funding opportunities. Bank of America’s Access to Capital Directory offers free resources to help business owners identify potential funding sources.

By staying alert, adaptable, and proactive, businesses can maximize revenue, increase visibility, and create sustainable growth whenever new opportunities arise.

Learn more about funding opportunities at: bankofamerica.com/smallbusiness/access-to-capital-directory/