You are entering into a long-term and potentially rewarding relationship but one which is not without pitfalls. And changing a lender is not as simple as changing a vendor. The lender must undertake an enormous amount of due diligence, which will be very time consuming for your business. No entrepreneur wants to do this often.

It is just as important that you get to know and trust your lender as it is that they understand your business and trust you. Research the lender’s reputation and ask to speak to some of their clients.