What Is a Business Debt Schedule?

Almost every business lender asks for a debt schedule, and it's the form people put off the longest.

A debt schedule is a list of everything your business owes. That's each loan, line of credit, equipment note and business credit card, with who it's owed to, the balance, the monthly payment and when it ends. The lender uses it to see whether your business can handle one more payment.

The mistake I see most is leaving something off. The lender's going to pull credit and read your bank statements, so a missing payment usually turns up anyway. Then you're explaining it instead of just listing it.

Fill it out from your statements, not from memory. And keep a copy, because you'll update it every time you borrow.

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