Finding the right bank is about much more than opening a checking account or securing a line of credit. In this episode of Hot Takes with Jim Baker, Jim Baker and Bill sit down with Dave Byerly and Preston Bergen from Fifth Third Bank to discuss what business owners should really expect from a banking relationship—and what banks look for when evaluating growing companies. 

The conversation explores everything from commercial lending and relationship banking to financial statements, cash flow, projections, asset-based lending, private equity, acquisitions, and why communication is one of the most valuable assets a business owner can bring to the table.

Whether you're launching your first company, growing beyond $1 million in revenue, or preparing for significant expansion, Dave and Preston share practical advice on building a banking partnership that can support your business through every stage of growth. They also explain why transparency, long-term planning, and surrounding yourself with trusted advisors can make all the difference when it's time to secure financing. 

00:00 – Welcome to Hot Takes with Jim Baker
01:00 – Meet Dave Byerly and Preston Bergen from Fifth Third Bank
02:30 – Why banking is more than deposits and checking accounts
03:00 – The story behind the Fifth Third Bank name
04:00 – How technology is changing modern banking
05:00 – What industries banks like to finance
06:00 – Why leadership matters more than the industry itself
07:00 – The value of long-term banking relationships
08:00 – What makes a business attractive to a bank
09:00 – Why financial statements matter
10:00 – Tax returns, QuickBooks, and professional financial reporting
11:00 – The value of a fractional CFO
12:00 – Why communication builds trust with your banker
13:00 – Exit planning, succession, and business transitions
15:00 – A real-world business growth success story
17:00 – Personal guarantees and business lending explained
20:00 – How banks evaluate risk
22:00 – Understanding asset-based lending (ABL)
25:00 – Financial projections and avoiding the "hockey stick" forecast
29:00 – Why regular communication with your bank matters
31:00 – Funding growth versus funding losses
33:00 – Why some businesses aren't bankable—yet
35:00 – How banking regulations affect lending decisions
39:00 – Why some banks say "no" while others say "yes"
41:00 – Technology, AI, and the future of banking
43:00 – Why physical bank branches still matter
45:00 – The Triangle economy and current business trends
46:00 – Private equity, acquisitions, and the business transition wave
49:00 – Five key takeaways for every business owner
53:00 – Final thoughts and closing