Friday, January 29, 2021

Small Business Advantage Checking: Exclusively for SBA Loan Customers!

Calling all aspiring business owners, this is the blog for you! If 2021 is the year you have decided to stop working for someone else and making their dream come true and make your own dreams come true, read on. On that note, have you thought about how you will manage your money? Keep reading this week's blog to learn all about the Small Business Advantage Checking. If you have any questions, please call our bank at the Lake of the Ozarks today. First Bank of the Lake can be reached at (573) 348-2265.


Small Business Advantage Checking: Exclusively for SBA Loan Customers!


Small Business Advantage Checking

  • A great account to help manage your money.
  • No Minimum Balance
  • No Minimum Opening Deposit
  • Only $30 monthly service charge*
  • Earnings credit allowance† on deposit balances may offset activity fees.
  • Low Per Item Transaction Fees**
- Deposits & Other Credits 40¢ each
- Checks & Other Debits 40¢ each
- Deposited Item 8¢ each

  • FREE Remote Deposit***
  • FREE Online Banking
  • FREE Bill Pay
  • FREE Business Mobile Banking
  • FREE Mobile Deposit
  • FREE eStatements
  • FREE Business Debit Cards (for all authorized signors)
  • Business Line of Credit with Sweeps (with approved credit)
  • Up to 2 additional FREE Business Checking Accounts - 
  • Great for Payroll & Petty Cash Accounts
  • FREE Kasasa® Cash Checking or FREE Kasasa® Cash Back Checking accounts for you and your employees! (conditions may apply)

Your cell phone provider may charge additional fees for web access or text messages for Business Mobile Banking. Other fees such as NSF, overdraft, dormant fee on inactive accounts, etc. may apply. See bank for details.

*The monthly service charge and certain transaction fees may be partially or fully offset by an earnings credit.

** Transaction items include all debits and credits (deposits, withdrawals & deposited items).

***There may an additional charge for the Remote Deposit check scanner.

ϯ The earnings credit is based on the 91-day Treasury Rate index. Credit is computed using the monthly average collected balance maintained in the Business Checking account. See bank for current rates, rates subject to change.


Do You Have Any Questions About The Small Business Advantage Checking?

Please do not hesitate to give us a call. We are here for you. We can be reached at the phone number listed below. You can also follow us on our social media channels listed below to stay up to date on our latest announcements. Remember, Here at First Bank of the Lake, We Put YOU First.





First Bank of the Lake - Striving For Excellence
Member FDIC. 


Connect With Us On LinkedIn

Located at the entrance to the Osage Beach Premium Outlets!

4558 Osage Beach Parkway

Suite 100
Osage Beach, MO 65065

(573) 348-2265

Friday, January 22, 2021

Flexible Options to Finance Business Growth!

Has 2021 inspired you to finally open that business you've always DREAMED of opening? If so, this is the blog for you! First Bank of the Lake is here to present you with some very flexible options to finance your business growth in this week's blog. Remember, here at First Bank of the Lake, We Put YOU First.


Flexible Options to Finance Business Growth!


We’re more than lenders. We’re your lending partners.

As a nationwide SBA Preferred Lender, we have the resources and extensive experience to tailor solutions for your business.

Our goal is to support your vision with financing that makes good business sense. If you’re looking to start or expand your business, we offer loans that are designed to meet your needs.

You specialize in business. We specialize in business financing.

Having access to small business financing can give you the freedom to focus on other aspects of running your business. Business financial options seem endless, and let’s face it, sometimes are confusing. Each type affects your company’s cash flow, taxes, operations, and overall competitiveness very differently. We’re here to help you make the decisions that impact your business.

At First Bank of the Lake, lending decisions are driven by our team of banking professionals who understand your business. We employ our creativity, understanding, experience and expertise to build the right solution for you.

With more than two centuries of combined lending expertise, our lending experts will guide you down the path to success. Choices are vital when it comes to business loans. We take a consultative approach and partner with you to structure the financing you need to help grow your business and achieve success.

We work with all types of businesses, plus we have teams focused on a variety of industries. 

Let us see how one of THESE loans may fit your needs.



Ready To Start Your Business Off Right In 2021?


First of all, congratulations on finally taking that HUGE step and deciding to start your business this year. That can be a really scary thing to do and you're doing it! Second, you should be able to trust the bank that is helping you with financing. At First Bank of the Lake, we understand the challenges you face and can help you achieve your goals and stay pointed in the right direction. Talk to us about your business and where you want to go. We can help get you there. Find out what it’s like to work with a bank who puts you first.




First Bank of the Lake - Striving For Excellence
Member FDIC. 


Connect With Us On LinkedIn

Located at the entrance to the Osage Beach Premium Outlets!

4558 Osage Beach Parkway

Suite 100
Osage Beach, MO 65065

(573) 348-2265

Wednesday, January 13, 2021

Here Are The Latest PPP Updates!

We're sure you have heard plenty about the Paycheck Protection Program by now, but have you heard the latest news? As a business owner, it's important that you stay as informed as possible. This affects your business and your employees. With that in mind, our bank at the Lake of the Ozarks is here to give you the latest updated information regarding the Paycheck Protection Program or PPP in this week's blog. In the first round of PPP, First Bank of the Lake helped more than 4,000 small businesses gain access to over $500 million of financial relief. 


Here’s what you need to be eligible for a PPP loan in the new round:

• Demonstrate at least a 25% reduction in gross receipts (to be defined by SBA) in any quarter of 2020 relative to the same quarter in 2019.
• Employ fewer than a 300 employees per physical location.
• Demonstrate that you have used or will use the full amount of your first PPP loan.
• A business that was not in operation on February 15, 2020 shall not be eligible for an initial PPP loan and a second draw PPP loan.

What else has changed?

• Borrowers in industries assigned to NAICS Code 72 are entitled to receive loans up to 3.5x their average monthly payroll costs, during the year prior to the loan or the previous calendar.

PPP Forgiveness: Here's what you need to know.

• Borrowers with loans less than $150,000 now have a simplified, one-page application. The SBA has until January 20, 2021 to provide guidelines for this application.
• Forgiveness is now tax-exempt for all borrowers.
• The covered period for expenses has been extended from 8 weeks to 24 weeks.
• Expenses allowable and forgivable are expanded to include certain payments for software, cloud computing expenses, property damage, supplier costs, and worker protection.

We know that small business owners have been eager for another round of Paycheck Protection Program (PPP) and that these funds are vital to your business. While we are unable to predict how quickly the funds may be exhausted, we do expect demand to be high. So, don’t wait. Start your application today!


Do You Have Any Questions About PPP?


We get it. This is A LOT of information to absorb. For more information on PPP2, visit our FAQ page at: https://loans.firstbanklake.com/ppp2/ and learn how to simplify your payroll calculations with a CARES Act Payroll Report by visiting: https://loans.firstbanklake.com/ppp-loan-payroll-calculations/

We've been working diligently to ensure getting a second PPP loan isn't something you have to stress about. Our experienced professionals have decades of experience in the loan industry and we’re committed to helping guide your business through the process of securing the funding you need. Our PPP support team can be reached at 866.806.1644 or by email at pppsupport@firstbanklake.com.

First Bank of the Lake - We Put You First. Four simple words, but they are at the core of everything we do at First Bank of the Lake. They are the difference that sets us apart. Be sure to follow us on our social media channels listed below to stay up to date on our latest announcements.




First Bank of the Lake - Striving For Excellence
Member FDIC. 


Connect With Us On LinkedIn

Located at the entrance to the Osage Beach Premium Outlets!

4558 Osage Beach Parkway

Suite 100
Osage Beach, MO 65065

(573) 348-2265

Tuesday, January 5, 2021

Take Your Savings To The Next Level in 2021!

Happy New Year everyone! Bye Bye 2020, Hello 2021! What are your plans for this brand new year? Perhaps you made a New Year's resolution for this year to finally meet your savings goal? If that's the case, you're in luck. Our bank at the Lake of the Ozarks is here to give you all the important information regarding our Free Kasasa® Saver in this week's blog. Start taking your savings to the next level and choose First Bank of the Lake, where we put YOU first. Four simple words, but they are at the core of everything we do. They are the difference that sets us apart.


Take Your Savings To The Next Level in 2021!

FREE Kasasa® Saver

A FREE account that builds your savings effortlessly – earn up to 0.75% APY!*

  • FREE Savings
  • Competitive Interest Rate
  • 0.75% APY* on balances up to $24,999.99!
  • 0.75% to 0.35% APY* on balances over $25,000 (depending on balance in account)
  • 0.05% APY* on the balance if qualifications aren’t met on Kasasa® Cash Checking or Kasasa® Cash Back Checking Account
  • Links to your Kasasa® Cash or Kasasa® Cash Back Checking Account
  • Automatic transfers of Kasasa® Cash or Kasasa® Cash Back Rewards
  • $25 Minimum Opening Deposit
  • No Minimum Balance to earn rewards
  • Up to 6 preauthorized transfers allowed per statement cycle
  • $1 charge for each transfer or withdrawal over 6
  • FREE Online Banking
  • FREE eStatements

Rates effective as of 01/05/2021

*Annual Percentage Yield (APY) is accurate as of today's date and may change without notice at any time after the account is opened. Fees may reduce earnings on these accounts.

Save more so you can do more.

An account like this can help you develop good savings habits while earning interest on your money. Let’s save up. Starting today.


Ready To Start Simplifying Your Savings Today?

Perfect! We are ready to help you with all your savings needs. Here at First Bank of the Lake, we don't believe in trying to sell you on a product you don't actually need. We're in the business of providing solutions for financial problems. If you've been searching for a savings account at the Lake of the Ozarks that actually meets YOUR needs and would like to hear more about the Free Kasasa Saver®, please feel free to give us a call today. We can be reached at the phone number listed below. To stay up to date on our latest important announcements or financial solutions we may be featuring, please follow us on our social media channels listed below. We are constantly posting and tweeting each week, so that is one of the BEST ways to stay "in the know."




First Bank of the Lake - Striving For Excellence
Member FDIC. 


Connect With Us On LinkedIn

Located at the entrance to the Osage Beach Premium Outlets!

4558 Osage Beach Parkway

Suite 100
Osage Beach, MO 65065

(573) 348-2265