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No matter how you create a business debt schedule, your list should include all the pertinent details of each debt, including: Name of creditor/lender. Type of debt. Original amount of debt. Origination date of debt. Interest rate. Current balance. Monthly payment amount. Maturity date.
A business debt schedule is a chart that details the long-term debts or long-term liabilities currently being paid off by a business. Some business advisors suggest listing the debts with the nearest-term due dates at the top of the list.
Details of each debt should be included in the debt schedule. These details include the creditor or lender, the current balance and the original total debt amount, the interest rate, monthly payment, maturity date, due date, and any collateral pledged.
How Can You Pay Off Your Business Debt? Create a Strict Monthly Budget. Even if a lender is willing to extend your loan term, that doesn't mean that it's the right decision for your business. ... Decrease Your Business's Spending. ... Consider Debt Consolidation. ... Negotiate with Your Lenders. ... Increase Revenue.
A Debt Collection Worksheet helps you organize who owes you what. With this document you can get the details organized, like the names of the creditor and debtor, the type of debt owed (personal loan, payment for goods or services, trade credit, or debt on rental property) and the amount.