A debt schedule is a list of all the money your business owes, with key details about each debt. This includes the total amount you owe, how much you pay each month when the debt is due to be paid off, the interest rates, and the original amount borrowed.
To get financing, especially through programs like the SBA (Small Business Administration), lenders need to see a complete list of your business debts. Without this, they won’t be able to figure out how much money your business qualifies for. Lenders will double-check your list, so it's important to be accurate and include all business-related debts.
What to include:
Only business debts (debts in the business’s name) such as:
Business credit card
Line of credit
Term loan
Equipment loan
Invoice factoring
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Any EIDL or PPP loans.
Deferred debts (debts that have been delayed or postponed).
Do not leave out any debts – even if they seem small. If you skip any, it could hurt your chances of getting a loan.