Why MSP Owners Should Build a Relationship With Their Banker
▶️ Watch: Trusted Advisors: Your Banker
Prefer to read? The key ideas from the video are expanded below.
One relationship I think a lot of MSP owners underestimate is their banker.
Most small business owners—MSPs included—don’t think about having a real relationship with their banker. At best, they see the bank as a utility, a place to deposit checks or get a loan. But your banker can be a partner to your business, not just a lender. Like all important relationships, this one only grows if you invest in it.
So what should an MSP owner actually expect from a good banking relationship?
What a Good Banking Relationship Can Provide
The first thing is perspective on the financial health of your business. Business bankers work with a lot of companies, so they have valuable experience. When you regularly share your financials, as you might for a loan, you also open the door to candid feedback and context on what looks healthy, risky, or unusual.
Bankers are also natural connectors. If you’re building a strong relationship, they may think of you when one of their other clients needs IT support. That kind of introduction usually carries more credibility than a cold referral.
And then there is the longer-term value. If growth means opening new offices, financing acquisitions, or investing in infrastructure, your banker’s support can become important. Having a relationship in place before you need capital makes those conversations much smoother.
Build the Relationship Before You Need Capital
The best time to deepen the relationship is before you’re applying for a loan. If your banker already understands your business, your financial history, and where you’re trying to go, the financing conversation starts from a much stronger place.
That is why staying in touch even when you don’t need anything matters. Consistency builds credibility over time, and it gives your banker context before there is a specific request on the table.
How to Strengthen the Relationship Over Time
This isn’t complicated, but it does require intentionality.
Plan on a couple of lunches a year. Bankers are big on business lunches. Offer to take them out, or accept when they invite you. Those informal conversations build trust in a way emails never can.
Share your vision, not just your numbers. Don’t only talk about what you need today—share where your MSP is headed in three, five, or ten years. That context helps your banker see how they can support you.
What a Strong Banking Relationship Can Do for an MSP
An MSP’s growth depends on strong systems, a solid client base, and a team that delivers. But don’t underestimate the power of outside relationships. A banker who understands your business can give you perspective, connect you to opportunities, and support some of your biggest moves.
And honestly, I think this same principle applies to a lot of your professional relationships. Your banker, your lawyer, your CPA—the best relationships are usually built long before you really need something.
If you haven’t talked with your banker in a while, taking them to lunch is a pretty good place to start.
This article is for educational purposes only and is not tax or legal advice. Every business is different, and you should talk with your own professional about what makes sense for your situation.
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