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Refinance Debt

If your banking relationship has broken down, you have two choices: repair it, or refinance with a lender that fits your business better. Start by working out what went wrong, because the answer can help you decide which choice to make.

Changing lenders takes time and money you’d rather devote toward running your business, so make sure the relationship can’t be fixed first.

Figure out what went wrong

A strong banking relationship requires effort from both sides. Good bankers listen, understand your business and your goals, offer practical solutions and look for ways to say yes to your capital needs.

You have a responsibility to your banker as well. Keep them informed from the start, be upfront about the challenges you face, and raise problems the moment they arise. The relationship depends on trust in both directions.

Recognize when the relationship can’t be saved

Some banking relationships end for reasons neither side can fix:

Your banker believes a different lender would serve you better.
The bank’s mix of loans means your company no longer fits its portfolio.
Your business has outgrown what the bank can offer.

In those cases, refinancing with a new lender is the right move.

Choose a lender that understands your business

The right lender takes time to understand your company and sees its potential. That knowledge helps a lender recognize a good risk that another bank might reject.

Look for a lender that believes in your ability to deliver and treats you as a business partner. A lender on your side uses its expertise to help you succeed.

Demonstrating strength to a lender

Lenders look for four qualities in a borrower:

Integrity. You keep your word, which is the basis of every financial agreement.
Prudence. You borrow only what you need.
Cash flow management. You understand where your cash comes from and where it goes.
Purposeful spending. You have a clear plan for the money, which is one of the best indicators that a loan will succeed.

Our guide to talking with your banker and investors in uncertain times covers how to keep a lender’s confidence.

How Oaklyn Consulting helps you refinance

We help companies assess their banking relationships, prepare to present their business to lenders and compare financing options. We bill for time and charge no success fee, so our advice doesn’t depend on which lender you choose or whether you borrow at all.

SilverSage Physician Services, a fast-growing company providing outsourced physician services, worked with Oaklyn Consulting to fund its growth with bank financing.

Frequently asked questions

When should I refinance my business debt?

Refinance when your current banking relationship can’t be repaired or your business has outgrown what your lender offers. Before you make a change, confirm the problem isn’t one that better communication with your banker would fix.

What do lenders look for in a business borrower?

Lenders look for integrity, prudence in how much you borrow, strong cash flow management and a clear plan for how you’ll use the money. A lender that understands your business can also recognize a good risk that others miss.

What if no bank will lend to my business?

You still have options, including private lenders and equity partners. Our response to a question on what to do when the bank says no compares the alternatives.

If the obstacle is the size of your business rather than the lending relationship, see is my company too small for an investment bank?

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We Help Clients Succeed At Their Most Complex Transactions

When running a business, making the right and crucial capital decisions can be the difference between success and failure. With Oaklyn Consulting by your side, you can confidently make the decisions that will shape the future of your business.

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