First Bank of the Lake: June 2018

Located at the entrance to the Osage Beach Premium Outlets!

4558 Osage Beach Parkway
Suite 100
Osage Beach, MO 65065

(573) 348-2265

Thursday, June 21, 2018

5 Helpful Car Shopping Tips

The time has come and you either WANT or NEED a new car. Whether your current car just broke down or you've never owned a new car before and you have decided now is the time - it's important that you go in having done your research first. You should also have your financing figured out before you start looking. Know what your budget is and stick to it. If you need an installment loan for your new car, call First Bank of the Lake at 573-348-2265. To further help you with your hunt for a new car, our bank in Osage Beach is here to give you a few helpful car shopping tips.

5 Helpful Car Shopping Tips

Tip #1: Determine Your Must-Haves For a Car
You probably have a good idea of what you want in a vehicle, perhaps you want all or one of the following:

Good Gas Mileage
Power Windows
Power Locks
CD Player
OnStar
XM Radio
Spacious Trunk

Make a list of all of your must-haves and take it with you when you car shop. Don't let yourself get overwhelmed by all the choices and forget your must-haves. Having the list on you can help you to remember.

Tip #2: Compare Pricing
Get the best price possible and try to shop around before you commit to a car purchase. Many dealerships have websites that you view pricing on, so save yourself the drive and shop around on a few of those first. Get a feel for what's out there.

Tip #3: Always Test Drive the Car Before You Buy It
A car may look really good on paper, but all of that information won't mean much if the car doesn't drive well. Buying a car can be a big purchase and test driving it beforehand can help put your mind at ease and help you to know your money is being well spent.

Tip #4: Ask About Discounts
It doesn't hurt to ask the car salesman about discounts they may have available. Perhaps they give discounts for being a/in:

AAA member
Student
The Military
Police Officer
Firefighter

Save money where you can and don't be afraid to ask.

Tip #5: Get the CARFAX®.
If you are buying a used car, learn everything you can about its history, such as service records, how many previous owners it's had, etc. CARFAX® can be a good resource for this and can be accessed by visiting www.CarFax.com.

Need a Car Loan at the Lake of the Ozarks?

Our installment loan specialists are ready to assist with your vehicle purchase. Allow the professionals at First Bank of the Lake to help with your lending needs. We offer competitive rates and terms to fit your budget. Contact us at 573-348-2265 to discuss your needs. You may qualify for immediate approval and processing. Visit our website at www.FirstBankLake.com for more information.

Want More Awesome Finance Tips? Sign Up For Our Newsletter!

First Bank of the Lake - Striving For Excellence

Member FDIC. Equal Housing Lender.

Located at the entrance to the Osage Beach Premium Outlets!

4558 Osage Beach Parkway
Suite 100
Osage Beach, MO 65065

(573) 348-2265

Friday, June 15, 2018

Mistakes to Avoid When Starting a Business

Starting a business can be a life-changing move and very self-rewarding. However, there are certain financial mistakes you will want to avoid to prevent upsetting downfalls. If you are looking for a small business loan at the Lake of the Ozarks to get your business up and running, call First Bank of the Lake at 573-348-2265. Keep reading for a few mistakes to avoid when starting a business.

Mistakes to Avoid When Starting a Business

Not paying attention to the competition
Part of having a successful, thriving business is knowing what you competition is doing and knowing how to compete with them appropriately and in a professional manner. Follow your competitors on social media and just be "in the know" when it comes to your business industry to avoid being behind in the times.

Not understanding "the need" for your product and the target demographic you are trying to reach
People may respond better to your marketing efforts if you present your product as a solution to a common problem they may be having versus just sounding "salesy" and pushing your product. Do your research and know what types of people need your product.

Having no goals for your business
If you don't have goals, how are you supposed to judge your business growth? Be ambitious and set realistic goals for your business. For example, set a goal for your target sales in the first year. Doing so can set the standard and help you judge what your business can do realistically.

Making poor marketing efforts
The trick is to reach your customers the way they wanted to be reached. For example, if you are targeting affluent women, you need to be on Pinterest. Know the type of demographic you are trying to reach and gage your marketing efforts from there.

3 Benefits Of SBA Loans at First Bank of the Lake

Here's a quick look at some of the unique benefits that SBA loans can offer.

Long Term Financing
SBA loans offer long-term financing, which helps improve cash flow. In most cases, the loan is for a fixed term and will not have a balloon.

Low Down Payments
One of the uses of an SBA loan is to provide much-needed funding to businesses who are trying to get off the ground. Consequently, SBA loans often offer low down payment options to make them affordable to their target market.

Several Different Loan Options
SBA loans are not "one-size-fits-all." In fact, there are several different types of these loans you can choose from.

Your SBA lender at the Lake of the Ozarks will be able to help you determine which is best for your situation. Just call First Bank of the Lake at 573-348-2265 today.

Want More Awesome Finance Tips? Sign Up For Our Newsletter!

First Bank of the Lake - Striving For Excellence

Member FDIC. Equal Housing Lender.

Located at the entrance to the Osage Beach Premium Outlets!

4558 Osage Beach Parkway
Suite 100
Osage Beach, MO 65065

(573) 348-2265

Friday, June 1, 2018

Money Saving Tips While on Summer Vacation at the Lake of the Ozarks

Summer is upon us! Technically, summer doesn't officially start until June 21, but there is no time like the present to be planning your exciting summer vacation. However, summer vacations can be expensive and a strain on your bank account at the Lake of the Ozarks if you are not careful. Save money for your vacation with First Bank of the Lake. Keep reading for money saving tips while on summer vacation at the Lake of the Ozarks.

Money Saving Tips While on Summer Vacation at the Lake of the Ozarks

Lodging

The Lake of the Ozarks is filled with adventurous campgrounds that provide affordable rates. Ditch the fancy hotels and go camp at the Lake! You can really take in the beauty of the outdoors that way. If you think it's too hot to camp, then try a vacation rental over a hotel. You can save money on having a full kitchen alone.

Food

Speaking of full kitchens, to save money, buy groceries and cook your family a nice meal instead of eating out every night while on summer vacation. If you do choose to eat out, treat yourself to a lakefront restaurant/bar over one of the fine dining establishments around here. You can still get a delicious meal for a fraction of the price.

Festivities

What do you plan to do while on vacation at the Lake of the Ozarks? Some festivities or activities are cheaper than others. For example, if you have the option to go to a waterpark over swimming in the Lake - save money and go swimming in the Lake. Choose to swim in the #1 Recreational Lake in the Nation, voted by USA Today. There are also all sorts of fun events to attend at the Lake of the Ozarks year round that are either free or priced affordably. To see a schedule of fun events at the Lake of the Ozarks, visit https://www.funlake.com/Events?category=Events&type=Event.

Save Money for Your Summer Vacation at the Lake of the Ozarks with First Bank of the Lake

On your next visit to First Bank of the Lake ask us about the Free Kasasa Saver, an account that saves money for you. Kasasa Saver® is saving simplified. Connect it to your Kasasa Cash® or Kasasa Cash Back® checking to build your savings effortlessly. When you earn cash rewards in your Kasasa checking, those earnings transfer into your Kasasa Saver. Kasasa Saver also earns up to 0.75% APY!* That’s Kasasa at First Bank of the Lake — free accounts that reward you for banking locally. If you have questions about this account, give us a call at 573-348-2265 or visit our website at www.FirstBankLake.com for more information.

**Please Click Here For Our Kasasa Cash with Saver Disclaimer

**Please Click Here For Our Kasasa Cash Back with Saver Disclaimer

Want More Awesome Finance Tips? Sign Up For Our Newsletter!

First Bank of the Lake - Striving For Excellence

Member FDIC. Equal Housing Lender.