“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
Thrifts
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
Deposits
Access To Funds
Administration
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
Banking
General Business
Lawbiz® Management Company