A DBA stands for “doing business as.” It is your company’s trade name or fictitious name. You can have as many DBAs as you like. They must be registered with your local county office, or you cannot operate under this name. Be sure your fictitious name isn’t already taken, so be creative.
What are the benefits of a DBA?
Privacy
Compared to other business entities, a DBA helps maintain the privacy of the business owners. It becomes public if you were to conduct business as a sole proprietor under your legal name. This can be a massive benefit if you wish to keep that informed from public records.
Distinctive
Conducting business under your legal name doesn’t make for a unique or distinctive company name. For example, if you have a landscaping business, you will likely want a name related to greenery. This identifies to customers what you do and what your company is about.
Can Help You Get a Business Account
A DBA can help you get a business checking account. Some banks will require that companies have a DBA before allowing them to open a business account. You will have to show proof of filing to start one.
Provides a Cohesive Identity
If you have a website for your business and a unique domain name, it makes sense for your website and company name to match. You don’t want to confuse your clients with multiple names.
Credibility
If you are going under your legal name, people aren’t necessarily thinking of a legitimate business at first. But with a DBA company name, you improve your business in terms of trustworthiness.
You can run multiple businesses without having to form a separate LLC or corporation for each one. Doing this cuts down on your paperwork and expenses.
Using a DBA can be a vital part of your overall business plan. Choosing a unique name that reflects your brand will help clients immediately identify you. So, take your time to think about what name you choose and how that’ll impact your company.
First Union Lending Can Work With Your DBA
First Union Lending offers numerous financing programs designed with small businesses in mind. Our business loans are fast and flexible, with financing options ranging from $5,000 to $2 million.
We have the funds to help!
Call today to learn more about our various financing solutions to help your business grow and succeed.