Welcome to your daily briefing on small business developments in Maryland. Today we're covering 6 key stories including updates on maryland small business headlines, background & context. Let's dive in.
3 stories
Maryland business entity search: SDAT database search. Verify business entities in Maryland. Search and find entity information.
Relevant to small business professionals operating in MD.
Before you can register your business in Maryland, you’ll need to do a business name check. Learn why it matters and how to do it.
Relevant to small business professionals operating in MD.
The word DBA means 'doing business as.' A DBA is any registered name that a business or individual person uses to operate a business that is not its legal name.
Relevant to small business professionals operating in MD.
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3 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.
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.
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