Having a relationship with your lenders is useful…
Business owners can use their network of lenders to spread the word about the business, both online and within the community. Having positive advocates for the business means you have a team of motivated stakeholders or ‘ambassadors’, all with an interest to see the business succeed.
For lenders, it is worth engaging with their borrowers to learn more about their business. The more you can do to promote the business, the better the business will perform, the more people it may employ and the more it may help your community and meet repayment obligations.
Read more about how this works in our blog about local value.