Welcome to your daily briefing on small business developments in Louisiana. Today we're covering 4 key stories including updates on louisiana small business headlines, background & context. Let's dive in.
1 story
A DBA, or 'doing business as,' is any registered name that a company or individual uses to operate that is not its legal name.
Louisiana entrepreneurs often use a DBA to brand their business differently from their legal entity name without forming a new company.
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3 stories
Most small-business insurance portfolios share predictable gaps: cyber liability (often excluded from general liability), employment practices (separate from general liability), business interruption (often capped well below actual reliance), and professional liability (excluded if not specifically purchased even when professional services are offered).
Each gap can become a six-figure claim that the owner assumed was covered. The cost of filling the four gaps is typically a few hundred to a few thousand dollars annually.
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.
The federal EIN identifies the business to the IRS for payroll, federal tax filing, and bank-account opening. State tax IDs are separate, often required for state payroll, sales tax, and unemployment-insurance accounts. Some states issue multiple IDs for different functions. Using the EIN alone leaves state obligations unfiled.
State agencies catch missing registrations through cross-checks with the federal EIN database, often years later, with penalties and interest accruing the whole time.
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