Deep, Dark Ag Banking Secrets…From an Ex-Banker

For 32 years, Rob Hall worked in agricultural banking in Ontario – sometimes at the very top of the food chain, and always on the management side of the desk. Now, he’s switched sides. He’s on the farmer’s side. And he’s eager to talk in plain language. In February, Hall launched BankSpeak, a business finance consultancy he runs out of his home office in Waterloo. His mission is to help farmers and other business people decipher the words and terms that come out of bankers’ mouths – such as “AML”, “non-recourse” and “balloon payment”. Their meanings are not always obvious, but they’re vital for business transactions. “I know the deep,
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How to manage your bank

excerpts from Country Guide, Nov 2007 As the dollars it takes to run a business keep rising, banks are demanding more business plans or a lot of hard security such as a mortgage on your home. If you are one of the business’s that a bank is lending to on the basis of your business plan and you have not fully secured it with personal assets, then your bank is expecting you to run your business according to that plan.  They will probably ask you or your accountant for quarterly or even monthly meetings to ensure you’re on target. If you propose these meetings, you are showing that you expect
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What banker’s look for in a client.

  excerpts from Better Farming, Dec 2005 Hopefully you have found your “ideal banker.” If so, that’s great!   But you want to keep them on your side so, what does a banker look for in an “ideal client?” Bankers are fairly simple creatures, easily mesmerized by balance sheets and shiny objects. However, when they are not in this harmless “financial stupor”, the way to keep them happy can be summarized in three words … communicate, communicate, communicate. A banker hates surprises… so don’t give them any. Tell them immediately what’s happening with your business and industry…the good, the bad and the ugly.  And tell them truthfully and with passion. If
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