The Successful Lawyer-Banker Relationship: A LawBiz® Management Special Report

By Edward Poll

(7"x10", 60 pages, soft cover, ISBN 0-9654948-6-2, Published by LawBiz® Management, Co., 2006)

Law firms today are moving toward operating in a more businesslike fashion, rather than just as a group of professionals and those that are truly businesslike will recognize that a key to responsible management is establishing a strong banking relationship. Importantly, banks are looking for profitable new niches so law firms and banks are natural allies in today's competitive world.

When you have the right relationship, a good banker will be creative in helping you become aware of opportunities to grow your business in ways you didn't know existed. The practical steps that Ed Poll provides in this little volume cover everything from how to choose a bank that's right for you, to how to improve your credit score and how to negotiate the best commercial loan to meet your needs.

Book: $29.00

Add to Cart

eBook: $19.00

Add to Cart

"This LawBiz® Special Report is a must-read if you want to take your law firm to a higher plateau."

– Howard Putnam, Former CEO of Southwest Airlines and Braniff Airlines

I. Understanding The Lawyer-Banker Relationship
Introduction: The Myths
The Reality: Mutual Benefit

II. Considering The Different Types Of Banks
Commercial Banks
Credit Unions

III. Choosing Your Bank And Banker
Factors To Consider
The Primary Contact
Your Relationship Goal

IV. Demonstrating Your Business Sense
Business Documentation
The Business Plan
The Receivables Plan
The Marketing Plan

V. Establishing Your Creditworthiness
The FICO Credit Score
The VantageScore
Qualitative Factors: The Four Cs

VI. Obtaining A Commercial Loan
Reasons For Seeking A Loan
Amount Of The Loan
Types Of Loans
Negotiating The Loan

VII. Obtaining SBA Financing
Types Of SBA Loan Programs
Eligibility And Proceeds Use
Maturity And Interest Rates
Requirements And Responsibilities

VIII. Managing Your Cash Flow
Access To Funds

IX. Managing The Merchant Banking Relationship
General Accounts Versus Trust Accounts
Caveats About Credit Cards

X. Using Trust Accounts Effectively
Disciplinary Rule Requirements
Flat, Retained, And Split Fees
Trust Account Access
The Importance Of Trust Accounts

XI: Using Other Bank Services
Services For Law Firms
Deposit Considerations For Lawyers
Personal Banking Services

XII. Strengthening The Lawyer-Banker Relationship
Ducating Personnel
Negotiating Fees
Investigating Alternatives

XIII. Learning From Experience
Listserv Postings Respond To The Question: “What Do You Like And Dislike About Your Bank?”

XIV. Resources For Finding Out More
General Business
Lawbiz® Management Company

You May Also Be Interested In: