Beyond Our Word: How Our Clients Evaluate the Results
Since 2007, over 120 professional firms have trusted our team to renegotiate their banking relationships — totalling $2.4 billion in negotiated credit. Below, six of those firms describe, in their own words and with specific numbers, what changed after engaging Bouchard & Associates.
Measured Outcomes, Not Marketing Claims
Each testimonial below comes from a client who evaluated multiple options, analyzed measurable outcomes, and reached a conclusion based on evidence. Each case study includes specific financial results — because that's how we operate, and that's how our clients think. When we present findings through our Banking Relationship Audit, every recommendation carries a dollar figure attached to it, so the return on investment is never ambiguous.
The firms represented span law, engineering, healthcare, accounting, digital services, and architecture. Revenue ranges from $3.6 million to $14.5 million. Engagement types include Banking Relationship Audits, credit facility structuring, treasury optimization, and growth-stage banking architecture. The common thread: every engagement produced quantifiable, auditable returns — and every client below agreed to share those numbers publicly.
We encourage you to learn about our team and read about our full range of services before reviewing these results. Understanding our methodology makes the outcomes below less surprising — and more replicable for your firm.
In Their Own Words: What Clients Say After Seeing the Numbers
"We'd been with our bank for 22 years and genuinely believed we were getting fair treatment. Marc's team showed us we were overpaying by $61,000 annually — and that was just fees and interest before they optimized our treasury. The Banking Relationship Audit paid for itself within six weeks. I'm embarrassed we waited this long, but I tell every professional firm I know: call Bouchard before your next banking review."
Robert Falkenberg, Managing Partner, Drummond & Whitfield LLP, Edmonton
Banking Relationship Audit"Danielle Fréchette understood our cash flow challenges better than our own bank did. She built a seasonal credit structure that eliminated the payroll stress we'd lived with for eight years. For the first time, I can focus on running an engineering firm instead of managing a cash crisis every November. The ROI isn't even close — it's the best money we've ever spent on outside advisory."
Arlene Chen, P.Eng., CEO, Northlands Engineering Group Ltd., Edmonton
Credit Facility Structuring"We were declined twice for a commercial loan and were about to self-finance our expansion with personal savings. Bouchard & Associates rebuilt our credit application from scratch, found us a lender that actually understood healthcare practices, and we were approved for $1.2 million in under a month. They didn't just get us the financing — they fundamentally changed how we think about our banking relationships. The 5th clinic is open, it's profitable, and we didn't risk a cent of personal capital."
Dr. Kevin Parmar, Co-Founder, Apex Physiotherapy & Sports Medicine, Edmonton/Sherwood Park
Credit Facility Structuring"Marc told us in our first meeting that our bank was treating us like a corner store instead of a $4 million professional firm. We thought that was bold. Then he showed us the numbers and he was right. The guarantee removal alone was worth every penny — my partners and I sleep better now than we have in a decade. Bouchard & Associates doesn't just advise; they advocate. There's a massive difference."
Linda Sommerfeld, CPA, Partner, Crestview Chartered Professional Accountants, Edmonton
Personal Banking Integration"I'm a marketer, not a banker. When I started Prairie Digital, I opened a chequing account and a credit card and figured that was 'business banking.' Three years and $120K in personal float later, I realized I was slowly drowning. James Okafor built us a complete banking infrastructure in 60 days — operating line, payroll automation, USD account, the works. He turned a constant fire drill into something that just runs. I tell every founder I meet: you don't know what you don't know about your banking, and that ignorance is costing you real money."
Noah Feddersen, Founder & CEO, Prairie Digital Marketing Inc., Edmonton
Growth-Stage Banking Architecture"Our bank had been sitting on a credit increase request for three months while a $14 million contract was at risk. We called Bouchard on a Tuesday. By the following Monday, they'd built a complete credit submission, introduced us to a competing lender, and we were approved within three weeks. The speed was extraordinary — but more importantly, they saw the opportunity in our signed contract that our own bank couldn't see. We've since moved all of our banking to the new institution, and the relationship is night and day."
Mika Johansson, Principal, Sterling Architecture + Interiors Inc., Edmonton
Credit Facility StructuringBeyond Testimonials: How Six Engagements Delivered Measurable Outcomes
Each case study below follows the same structure: the problem as the client experienced it, the solution our team designed, and the auditable results. For more detail on the specific services referenced, visit our services page. To discuss how a similar engagement might work for your firm, schedule a consultation.
Drummond & Whitfield LLP
ProblemDrummond & Whitfield had maintained the same primary banking relationship for 19 years. Their operating line was priced at prime + 1.75% — a rate that had gone unreviewed since 2012. Trust accounts were held in non-interest-bearing structures, leaving tens of thousands of dollars in potential interest income on the table annually. Merchant processing ran at 2.85%, well above the market rate for professional services firms of their size. No competitive benchmarking had been conducted across any of their 14+ banking products. The partners assumed loyalty was being rewarded; in reality, complacency was being exploited.
SolutionBouchard & Associates conducted a full Banking Relationship Audit covering every fee, rate, and service charge across the firm's complete banking portfolio. The resulting 32-page scorecard identified 17 improvement opportunities ranked by annual impact. A competitive RFP was distributed to 3 alternative lenders to create pricing pressure and provide independent benchmarking data. Marc-Étienne Bouchard personally led the renegotiation with the incumbent bank, armed with competing term sheets that demonstrated exactly how far below market their current pricing sat.
Results- Operating line repriced to prime + 0.85% (–90 bps, saving $22,500/yr)
- Trust accounts migrated to interest-bearing structures ($38,000/yr in new income)
- Merchant processing reduced to 1.95% (saving $11,700/yr on $1.3M in annual card volume)
- Wire transfer fees renegotiated, saving an additional $2,400/yr
Learn about Banking Relationship Audits →
Apex Physiotherapy & Sports Medicine
ProblemApex had been declined twice for a commercial term loan needed to open their 5th clinic — first by their primary bank, then by a second institution that cited "insufficient collateral." The firm was self-financing expansion with retained earnings, severely constraining cash reserves and leaving the business dangerously thin on working capital. The 5th clinic timeline was at risk, and the founders were considering a personal savings injection of over $200,000 — a move that would have exposed their personal finances to unnecessary risk and set a dangerous precedent for future growth.
SolutionBouchard & Associates restructured the financial presentation from scratch, reframing the narrative from a balance-sheet-centric view to a cash-flow-centric one. A detailed DSCR (debt service coverage ratio) analysis demonstrated 2.4x coverage — well above lender minimums of 1.2x. The team identified Servus Credit Union's healthcare lending program as an optimal fit based on sector specialization and competitive pricing. Danielle Fréchette prepared an adjudication-ready credit package with collateral valuation summaries, detailed management narratives, and a 36-month financial projection. The package was submitted within 10 business days of engagement.
Results- $1.2M term loan approved at prime + 1.25% through Servus Credit Union
- $400K operating line established to support multi-clinic cash management
- 5th clinic opened on schedule — breakeven achieved in 7 months
- $180K freed from cash reserves, restoring working capital flexibility
- Personal savings injection avoided entirely, preserving founder financial security
Northlands Engineering Group Ltd.
ProblemNorthlands billed 60% of annual revenue in Q2-Q3 due to the seasonal nature of resource-sector project timelines, creating a severe cash flow mismatch that repeated every year like clockwork. The firm was routinely over-limit on its $1.8M operating line from November through March, incurring $34,000 per year in over-limit fees and triggering covenant review letters from their bank. Staff bonuses were delayed or skipped entirely during the cash-tight months, driving attrition during peak hiring season — a problem that directly threatened the firm's ability to staff Q2-Q3 projects. The CEO described November as "four months of holding my breath and hoping we don't miss payroll."
SolutionBouchard & Associates built a 24-month rolling cash flow model that documented the seasonal pattern with forensic precision, demonstrating to lenders that this was a predictable, manageable cycle — not a sign of financial weakness. A seasonal revolving credit facility was proposed alongside a milestone-based invoicing restructure to accelerate receivables during high-billing quarters. Earnings credit rate calculations demonstrated the value of restructured compensating balances, providing the bank with a quantified business case for the incremental facility. Danielle Fréchette led negotiations with the incumbent lender, presenting the cash flow model as evidence that the existing facility was structurally inadequate rather than oversized.
Results- $600K seasonal facility (Nov–Mar, prime + 1.50%) approved within 30 days
- DSO reduced from 74 to 51 days through milestone invoicing ($690K working capital freed)
- $34K in annual over-limit fees eliminated permanently
- Bonuses restored on schedule — zero voluntary attrition in the following 18 months
Learn about Treasury & Cash Management →
Crestview Chartered Professional Accountants
ProblemThree partners were personally guaranteeing a $750,000 operating line despite 14 consecutive profitable years and a clean debt service record. This meant $750,000 in personal liability that followed each partner home every night — exposure that affected their personal borrowing capacity, their estate planning, and their peace of mind. Fragmented personal banking across 3 institutions meant mortgage rates were above market and no relationship leverage existed. Regulation O insider lending rule compliance had never been reviewed. The partners had been told by their bank that personal guarantees were "standard practice" — a claim that was demonstrably untrue for a firm of their size and track record.
SolutionBouchard & Associates conducted a combined Business & Personal Banking Integration review — an engagement that examines both the firm's commercial banking and the partners' personal banking relationships as a single, interconnected portfolio. Covenant-based security was proposed in lieu of personal guarantees, backed by 14 years of uninterrupted profitability data, a current ratio consistently above 2.1:1, and a zero-default credit history. A consolidated relationship proposal was presented to two competing institutions, creating competitive tension and giving Crestview leverage they'd never had.
Results- Personal guarantees removed — $750K in personal liability eliminated for all three partners
- Mortgage rates reduced 32 bps across 3 properties ($14,800/yr savings)
- Operating line repriced to prime + 0.60% (from +1.10%, saving $3,750/yr)
- All banking consolidated under one institution, unlocking relationship pricing tier
"A firm with 14 years of profitability and a 2.1:1 current ratio should never carry personal guarantees. That's not prudent lending — it's a bank taking security it doesn't need because nobody pushed back."
— Marc-Étienne Bouchard, CFA, CBVPrairie Digital Marketing Inc.
ProblemPrairie Digital's entire banking infrastructure consisted of a basic business chequing account and a $50,000 credit card. For a $3.6-million firm with 34 employees and 30% year-over-year growth, this was the banking equivalent of running a trucking company with a bicycle. The firm had $185,000 in semi-monthly payroll obligations against net-45 receivable terms, creating a structural timing gap that could not be bridged without external capital. The founder had personally injected $120,000 over 18 months to bridge these gaps — a pattern that was neither sustainable nor tax-efficient. No operating line, no automated cash management, no USD account for American clients representing 22% of billings, and no corporate card program despite $340,000 in annual expenses eligible for cash-back rewards.
SolutionJames Okafor, the engagement lead, designed a complete growth-stage banking architecture from the ground up: a $500K asset-based lending (ABL) operating line secured against receivables (enabling the facility to grow automatically as Prairie Digital's revenue grew), a segregated payroll account with automated sweeps from the operating account, a corporate card program with cash-back optimization across five spending categories, and a USD account for cross-border billings that eliminated 22% of the firm's FX conversion costs. ACH processing reports and deposit activity summaries were configured for ongoing monitoring through the client portal. The entire architecture was implemented in 60 days.
Results- Idle balances reduced 73%, freeing capital for growth investment
- FX fees eliminated ($8,200/yr saved on USD conversions)
- Cash-back rewards captured ($6,400/yr across corporate card program)
- Founder capital injections ceased within 60 days of implementation
- ABL facility scales automatically with revenue — no renegotiation needed as firm grows
Learn about Growth-Stage Banking Architecture →
Sterling Architecture + Interiors Inc.
ProblemSterling won a $14M hotel renovation contract — the largest in the firm's history — requiring a significant staffing ramp-up and $280K in design software investment. Their existing $200K operating line was woefully inadequate, and the bank had been slow-walking a credit increase for over 90 days with no clear timeline or decision. The contract timeline was slipping — subcontractor commitments, software procurement, and 6 contract staff hires were all on hold pending financing. Every week of delay risked the general contractor reassigning the design package to a competitor. The firm's principal estimated that losing this contract would cost $1.8M in revenue and set back the firm's growth trajectory by two years.
SolutionBouchard & Associates prepared a supplementary credit submission that reframed the signed contract as a receivable asset, demonstrating the loan-to-value ratio against committed project revenue with milestone payment schedules documented to the month. The team introduced a contract-secured lending specialist at a competing institution — a lender whose credit team had direct experience with project-based professional services firms — and submitted an adjudication-ready package within 5 business days. Marc-Étienne Bouchard personally presented to the credit committee, walking them through the contract terms, payment milestones, and Sterling's 12-year track record of on-time project delivery.
Results- $450K project-specific facility approved in 21 days (vs. 90+ days with no decision at incumbent bank)
- Software funded and 6 contract staff hired on schedule — no project delays
- Facility repaid in 11 months from project milestone payments
- Sterling moved all banking to new lender within 6 months, citing superior responsiveness
- New banking relationship has since supported two additional project facilities
"Sterling's old bank couldn't see past the balance sheet to the contract in front of them. That's not conservative lending — it's lazy lending. A signed $14M contract with milestone payments is one of the most bankable assets a professional firm can offer. The right lender saw that in 21 days. The wrong one couldn't see it in 90."
— Marc-Étienne Bouchard, CFA, CBVYour Results Start With a Single Conversation
Every case study above started the same way — a free 30-minute conversation with our team. First, we listen to your situation: what your bank is charging, what's frustrating you, and where you suspect money is being left on the table. Then, we identify the specific opportunities based on 18 years of benchmark data across 120+ professional firms. Finally, we show you the math — with dollar figures attached to every recommendation, delivered within 5 business days of our initial conversation.
There's no obligation, no hard sell, and no fee until you decide to move forward. We're confident in our process because we've done this over 120 times — and the results on this page speak louder than any sales pitch we could write. Schedule your consultation and see what's possible for your firm.
Important Disclosures
Bouchard & Associates Ltd. is a business banking advisory firm. We do not accept deposits, issue credit, or hold client funds. All advisory services are provided on a fee-for-service basis.
Service fees apply to all advisory engagements — see our Schedule of Fees for complete details prior to engagement.
Bouchard & Associates Ltd. — Registered Office: 8211 101 Avenue NW, Edmonton, Alberta T6A 0K4. Alberta Corporate Registry No. 2017924681. GST/HST Registration No. 741829305 RT0001.
Regulated under the Alberta Business Corporations Act. Member, Edmonton Chamber of Commerce (ID: EC-20078842).
Banking product recommendations are advisory in nature. Final credit decisions, interest rates, and fee structures are determined by the issuing financial institution. Past client results do not guarantee future outcomes.