As small- and mid-sized businesses (SMB) focus on daily operations, financial issues are often overlooked until a crisis hits. A delayed deposit that disrupts payroll, a fraud attempt that drains resources, or a setback in obtaining a loan could lead to a jeopardized reputation and missed opportunities.

With the health of their organization at stake, SMB executives often benefit from responsive, reliable guidance from a banker who can analyze the situation and recommend the appropriate financial resources.

In a survey of 200 small business owners conducted by BankUnited, respondents reported that their top goals for the year were to drive profitability and increase sales revenue, as well as improve operational efficiency. Each of these requires solid cash management and access to financial tools. But there’s another hidden advantage to the right bank: a partner who can step in quickly to solve problems and navigate complex issues.

A survey from Deloitte found that a relationship with a trusted personal advisor and customized service were the top reasons small businesses switched banks (behind lower fees). While fees matter, strategic banking advice and insight that ultimately saves money often has a higher value.

When cash flow stalls, leaders can feel the ripple effect immediately. Issues tend to surface unexpectedly, such as when a customer payment doesn’t clear or a wire transfer is held for verification.

According to the BankUnited survey, more than half of respondents identified improving cash flow management as a top financial priority. That’s no surprise, considering it’s the lifeblood of the business, which allows them to meet their obligations to employees, vendors, and clients.

When there is a snag, the last thing a busy owner wants to do is wait in a call queue to be answered by someone who doesn’t have intimate knowledge their business—or them—and therefore doesn’t understand the urgency.

A responsive banker can prevent operational crises with prompt intervention, but more importantly, they can suggest stronger cash management strategies that will pay long-lasting dividends.

That was a solution offered by Tomas Jimenez, a BankUnited Vice President and Commercial Banking Relationship Manager, working with a construction company in Central Florida. After the owner shared frustrations about cash flow management and a lack of proactive engagement from his existing institution, Jimenez was able to provide insight into managing accounts receivable more effectively, thereby boosting the firm’s trajectory.

Unfortunately, fraud is increasingly common, and SMBs are often attractive targets. A 2024 Microsoft survey found that 9 out of 10 SMBs agree that cyberthreats are an increasing risk, and there are real consequences: The research shows the average total cost of an attack is $254,445, but can run as high as $7 million, taking into account not only real costs but hidden risks such as reputational fallout.

When fraud strikes, SMB leaders value immediate access to a banker who can act quickly. In fact, the BankUnited survey found that security and fraud protection is one of the top factors considered when choosing an institution. They also named security and fraud concerns as the factor that would “most likely drive them to look for a new banking partner.”

Case in point: a commercial interior design firm that turned to BankUnited and Senior Commercial Relationship Manager Leslie Fischman after a fraud attempt led their previous bank to shut down their accounts without warning.

While fraud activity must be taken seriously, an overly zealous reaction could hinder an SMB’s ability to conduct business. Having a banking fraud expert helps leaders react appropriately and promotes issue resolution with minimal disruption.

Nearly three-quarters of respondents to the BankUnited survey reported that their demand for loans or credit had either remained the same or increased, underscoring the need for informed guidance to navigate financing options.

When pursuing lines of credit, loans, or equipment financing, having access to both expertise and an extensive suite of products is essential. A relationship manager who understands their industry can guide them through the various products available and explain the terms, as well as both the short- and long-term repercussions. Then they can expedite credit decisions and ensure timely funding so that clients don’t miss a time-sensitive growth opportunity.

For example, an engaged banker could help a manufacturer secure a line of credit to purchase new equipment before a price increase, or a restaurant operator access a commercial loan to lease a prime spot for their next location.

Successful SMBs find that focusing solely on fees comes at a cost, as a “race-to-the-bottom” fee competition can sacrifice the benefits of connecting with a banker who will advocate on their behalf.

As one client shared, working with his relationship manager and BankUnited was like “having an extended banking department on my team…always working on my behalf in the background…more than willing to hold my hand and get it done with a smile on his face – saving a lot of aggravation on my side.”

For SMBs, customer service is often the hidden advantage that keeps operations running smoothly and builds resiliency. To find out how BankUnited can help your business thrive, contact a commercial banker today.