Bring your banker the details. Bankers, overall, enjoy numbers. It’s a huge part of what they signed up to do as a career, after all. Farmers, on the other hand, may or may not enjoy numbers or ratios or dealing with financial information with quite the same level of enthusiasm – it depends a lot on the individual farmer’s personality and passions. But whether you’re the type of farmer who enjoys diving into a spreadsheet or not, it’s still your responsibility, as the farm’s CEO, to bring the banker the kind of information they want, at the level of detail they want. One way to do this even better is to enlist the help of an ag finance advisor, who can help organize and interpret your financial information in such a way that many bankers really appreciate.

Have a clear plan and communicate it. Bankers also want to hear that you, as the farm’s leader, have a business plan for how you’ll be successful that particular year. The more specific and forward-looking you can be in the plan, the better. Remember, your banker’s main concern is to make sure you’ll be able to pay the bank back. They need to see that you view your farm as a business and make decisions for it in such a manner as well. If your farm happens to be in a tough spot right now, talk with your banker about how you plan to get out of that situation and create a more positive, consistent trend. How you communicate your plan matters as well. The more specific you are, the better. Use accurate data and information to back up what you’re saying, while demonstrating your confidence and belief in the actions you’re taking.

Keep them in the know. Most bankers don’t like surprises – at least, when it comes to their clients’ farm businesses. The best way to prevent an unwelcome surprise for your banker is to be upfront with them about what’s going on in your business. How would you rate yourself on this, currently? Do you regularly call your banker to check in and provide updates – between actual in-person meetings with them? Committing to keeping your banker regularly updated can come with the added benefit of helping you make sure you’re staying on track as well. Needing to regularly update and communicate with them can also help you stay more up to date with your own business planning – plus add more accountability to execute on those plans.