Loyalty Can Cost You,  But Staying Can Still Be the Right Choice

We often talk about how bank loyalty can sometimes cost you, but it’s important to be clear,  just because you engage us doesn’t mean you have to change banks.

We understand there are plenty of reasons why you might want to stay where you are. Maybe you’ve built a relationship with your bank and you value that more than price, or perhaps you value a local connection. Whatever the reason, our role isn’t to force you to move,  it’s to make sure your finances are well structured, competitive and fair.

What We Actually Do

When we review your position, we’ll always explore what’s available across multiple lenders, but that doesn’t mean you have to switch. Often, we can go back to your current bank and see what they will offer with the same information presented to the other lenders.

A Real Example

Recently, we worked with a new client that had just separated from their family business. They’d taken on a higher level of debt as part of the restructure and wanted to start reducing it. With a few poorer seasons and no individual trading history they were unsure how to approach their banking but wanted to make sure they were saving money where possible.

We took their business to other lenders and achieved a 0.37% rate reduction, saving around $20,000 in interest per year. Although this is a significant savings they still had reservations with switching banks. Their current bank has history of the joint business and our clients felt they could trust their existing bank. Our job is to work with our clients to find a finance solution that works for them.

To be fair we present the same exact information to their current bank and achieved a 0.32% rate reduction on an offer that was less than a month old. This is what we mean when we say we speak the bank’s language. By clearly communicating your story and the full picture of your business, we make sure lenders,  whether new or existing, see the real value in what you’ve built.

Our Promise

At Purvis AgriFinance, our job is to help you achieve the best possible outcome,  whether that means staying put or making a change. It never hurts to put things out to tender, and you might be surprised at how much can be achieved simply by asking the question.

We ask a lot of questions because the more we understand your business, the better we can advocate for you. And when you win, whether through savings, flexibility, or peace of mind,  that’s a win for us too.

Even if you choose to stay with your current bank, we still offer the same ongoing support,  budgets, analysis, and rate reviews included. We won’t force you to change banks, but we will make sure you’re assessing all your options and choosing what’s right for you and your business.