As business owners and leaders, we find ourselves at a crossroads, pondering our next moves amidst an evolving economic landscape. The recent Wall Street Journal article from September 2023, titled "Almost All Loans Are Bad – Why Banks Aren't Lending," shed light on a prevailing national trend among banks that we've also been witnessing locally—banks are tightening their lending practices. In a world where access to capital and lines of credit can be lifelines during economic slowdowns, this trend raises vital questions for business owners.

Is your current line of credit sufficient to weather the storm? Is your excess cash working as hard for you as it can be? Should you extend your loans to 3 or 5 years? These are critical decisions that require guidance from a trusted advisor. In times like these, your choice of a banking partner becomes crucial.

This is where community banks like Midwest BankCentre step into the spotlight. Community banks might not have the expansive branch networks of our larger counterparts, but we bring something unique to the table—intimate knowledge of the local community and an unwavering commitment to your success.

Importantly, Midwest BankCentre is open for business, both for our existing clients and new partners. Our business is built on long-term, holistic relationships with our clients, many of them now spanning the course of decades and even generations.

A holistic approach to banking isn't just about loans; it's about building a relationship that encompasses both your business and personal financial needs. From treasury management and business credit cards to mortgages and generational planning, a comprehensive banking relationship offers a multitude of benefits.

When your banker understands both your business and personal financial goals, we can help you strategize for the long term. We know you, you know us, and together, we can find solutions that best meet your current and future needs. This synergy is a game-changer.

A trusted advisor who has your back during all economic cycles is paramount to long-term success. Community banks like Midwest BankCentre remain deeply invested in the resilience and vitality of our region. In uncertain times, having a partner who understands both your business and personal financial goals is invaluable. It's a relationship that can help you not only survive but thrive in any economic climate. And with Midwest BankCentre, you have a partner who is not only open for business but also dedicated to helping you get things done more efficiently. We've been here for you in the past, and we'll continue to be here for you because where you bank matters, especially in times that matter most.

So, as we navigate the evolving economic terrain, consider the profound benefits of a holistic banking relationship—one that not only serves your business but also supports your personal aspirations. At Midwest BankCentre, we're more than a bank; we're your partner in success, committed to helping you thrive in both your professional and personal endeavors. Together, we can chart a course that leads to prosperity, no matter the economic conditions that lie ahead.

Originally published in the St. Louis Business Journals Ask The Expert Column on 7/28/2023 by Danny Pogue, President – Commercial, Retail & Small Business Banking.