Welcome to your daily briefing on small business developments in Delaware. Today we're covering 4 key stories including updates on germany small business headlines, background & context. Let's dive in.
2 stories
Discover comprehensive property records in Delaware, including owner information, permits, and deed details.
Accessing these records can enhance your real estate transactions and client services in Delaware.
Filing a DBA enables businesses to operate under a different name, with essential details on the process in New Jersey.
This is crucial for small business professionals in NJ to ensure compliance and effective branding.
Reach professionals in this market
2 stories
Most small-business credit cards — even those issued in the company name — carry a personal guarantee in the application terms. Default by the business becomes personal liability. This applies to most issuers including those marketed as "business credit builders.".
Owners assuming corporate-veil protection on business cards can be blindsided by personal collections actions years later. The card's branding does not match the legal exposure.
MCAs quote a "factor rate" (typically 1.20-1.50) on the advance amount, plus a daily holdback as a percentage of receipts. Translated to APR, most MCAs cost 60-150% annualized. The structure is legally not a loan, so usury caps and disclosure rules do not apply.
Cash-strapped small businesses that "just need it now" stack multiple MCAs and end up with daily holdbacks consuming most receipts. Recovery from MCA stacking is rare without formal restructuring or bankruptcy.
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