I thought you might like to read the presentation a friend of mine gave last May to our local chapter of the American Subcontractors Association. It contained five simple rules for keeping your banker happy.

Tyrone Herbert titled his presentation "What Makes Me Bankable?" Tyrone knows what bankers want to see because, well, Tyrone just happens to be a commercial lender at the First National Bank of Olathe in Olathe, Kansas.

The following is my translation of what he shared. Since Tyrone did not get a chance to review this ahead of time, credit him for the parts you like and blame me for the parts you don't.

RULE No. 1: Assemble a Team of Professionals
Tyrone's Point:
Your team needs to have four members, all of whom must be experienced in the construction industry and understand the challenges faced by construction companies. Your team should include:

• A banker
• A lawyer
• An accountant
• An insurance/bond agent

Ron's Comments:
You may remember that not using a professional services team is the tenth biggest mistake contractors make. Select an accountant your banker has faith in. You will see why in the next rule.