Commercial bank loans

[Todd Belanger]

Hi all. I feel a little stupid with question but I’m having trouble deciding what to do. I’m buying a building for my business. When I started looking one of the first things I did was reach out to a couple of banks to see what was even possible. One of the bankers has been very gracious with his time and helping me figure things out. We have really gotten to know each other and I’d almost consider him a friend at this point. However the other bank is offering me a rate 350 basis points lower. It makes a big difference in mortgage payments. Do bankers expect that you are shopping around? Should I just tell him and ask if he can match it? I feel pretty silly but about it but I’m feeling guilty.