How to choose a financial partner that can support your business through change

 

Portland has always been a city of entrepreneurs, and that’s something we love about our region. Entrepreneurs and other leaders of closely held businesses tend to have flexibility, a creative mindset, a willingness to take risks and build for the long term and a strong sense of place — all characteristics that contribute to the vibrancy of the local community. Behind the scenes, bankers support these entrepreneurs and their businesses in a variety of ways.

 

Running a business can be an all-consuming effort, but at Washington Trust Bank, we aim to help entrepreneurs and other business owners work on their business rather than just in the business. If you’re a business owner, we want to give you the opportunity to step out of your day-to-day routine and away from the details to see the bigger picture, plan for the long term and address both anticipated transitions and unforeseen changes.

 

Businesses are always in a state of flux. Your company’s banking needs evolve, your ownership plans may shift, and you continually face a host of changing circumstances — from new consumer behavior trends, to extreme weather events, to broader political and economic developments — that affect business. So, it’s important to get ahead of any curveballs that may be headed your way.

 

This is easier said than done, but a good banker will help you identify gaps in your goals and plans and gently nudge you toward addressing them. At Washington Trust Bank, for instance, we have a team that can help you sort out your estate goals and then introduce you to local resources to help you execute the plan.

 

Whether you need financial advice, access to capital, or simply an introduction to other experts who can help with the specifics of a business need, your banker should be a trusted partner who wants to see you and your business succeed. That’s the role Washington Trust Bank has been playing for Pacific Northwest businesses for more than 100 years.

 

When you’re assessing a potential financial partner for your business, consider the following characteristics.

 

1. Trusted guidance. As a business owner, you have a million things to think about, and no one understands your business better than you. Your banker won’t pretend to know your business as intimately as you do. But we will work to build trust in our partnership and show how you can rely on our expertise for guidance, so you can make confident decisions about the future of your business. A financial partnership works best when it’s a two-way street, with mutual trust, respect and information-sharing — and not just transactions — as the focus.
2. 360° capabilities. As a financial advisor, we are truly focused on our clients’ business success, and Washington Trust Bank can work across a comprehensive spectrum of services to support your needs. There are no silos — we work together. Our Commercial Banking team can work with you on cash management and lending, while our Wealth Management team can support you in uncovering any gaps in your financial or estate plan and then help you identify and implement strategies to address them. We’re also a true connector who will make introductions to other professional services, such as accountants, attorneys and so on, as needed.
3. Outstanding service. Washington Trust Bank has a long-standing reputation for exceptional customer service and support, which you should perceive from the very start of the relationship. We’re proud of the quality of our products and the speed and value we offer our clients. For example, we recently onboarded a new property management firm that needed 60 accounts opened, and we delivered in three days’ time.

We’ve been servicing the Portland region since 2005, and we’re deeply committed to the local community. This commitment is reflected in our recent renewal of a 10-year lease in downtown Portland, our active participation in “We Believe in Portland’s” community-wide cleanup efforts and our support for many local nonprofit organizations.

 

Come talk to us — we’d love to get to know you and your business.