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From Challenges to Opportunities: A Community Banker’s Guide for Small Businesses

Have you ever wondered what challenges small businesses face when working with their banks and how those challenges can become opportunities? We spoke with James Cornett, Senior Vice President and Chief Credit Officer at The Grant County Bank, to gain insights from his 40+ years of experience. James shares what makes community banking essential, how business owners can prepare for financial conversations, and practical advice for navigating today’s economic climate.

Q: Tell us a bit about your career path up to this point, and why you landed at The Grant County Bank.
James: I have accumulated over 40 years of banking experience in small and large financial institutions. After years in larger organizations, I came to appreciate the vital role that small community banks play in supporting local economies and small businesses. That realization led me to transition into community banking.

Q: What’s the most rewarding part of your job?
James: Working with a skilled team and seeing the real-world impact our services have on the community.

Q: How about the most challenging part of your job?
James: External influences, like economic shifts, negatively impact small business clients. One of the biggest challenges is determining the best approach to help our clients continue receiving the lending and deposit support they need.

Q: What are some key questions to ask a commercial bank when considering a new banking partner or loan agreement?
James: Start by asking what differentiates the bank from others. It's important to understand the range and quality of products, services, rates, and terms that are available to support your financing needs.

Q: What are some of the most common challenges small businesses face when working with commercial banks, and what suggestions can you provide?
James: Preparedness is key. Businesses should have essential documents ready, like a business plan, balance sheets, income and expense reports, and financial projections. These help banks assess and tailor solutions. When challenges arise, banks can also leverage credit enhancement programs, including guaranties, collateral support, and direct lending, to bridge the gap.

Q: Could you share some examples of how small businesses can work with commercial banks to access opportunities, even in a challenging economic environment?
James: Absolutely. Small businesses should connect with their local bank or loan officer. These professionals know about specialized programs and credit enhancements that can strengthen a loan application, even in tough times.

Q: What is one piece of advice you’d give small business owners?
James: Surround yourself with experienced professionals, trusted mentors, and a strong team. Build relationships that push you to be your best. As Olympic athlete Anthony Famiglietti said, “If you are starting or trying to get to the next level, surround yourself with people who keep you motivated and energized – people who inspire you to achieve the best every day. When you do this, you can’t lose.”

Whether you're navigating economic uncertainty or planning your next phase of growth, the right banking partner can make all the difference. As James highlights, success begins with preparation, trusted relationships, and open conversations. At The Grant County Bank, we’re committed to helping small businesses not just survive, but thrive.

Reach out to explore how our team can support your goals with insight, experience, and personalized solutions: (888) 280-4111.