A debt schedule is a detailed breakdown of all of your business's current debts, along with their outstanding balances, payment amounts, maturity dates, interest costs, and original balances.
We need a list of your business’s debts to determine the maximum loan amount your business qualifies for. If we do not have an accurate picture of how much debt you have under your business’s name, we cannot accurately calculate the loan amount you are eligible for through the SBA. Our lenders verify the debt schedule, so please ensure you are including any debts in your business’s name.
What to include in your debt schedule:
List only business debts. Business debts must be in the business name. If the debt is in your personal name but is used for the business, it is still considered personal debt. Please only include debt that is explicitly in the business name.
Include all business credit cards. If they are paid in full each month, put $0 for the monthly payment.
Include EIDL/PPP loans.
Include any deferred debts.
Do not leave off any current known debt. Banks will search to validate your list and omitting debt will impact your eligibility.