How to Tackle Business Debt
Debt Doesn’t Have To Define Your Business Story
Debt can feel like a weight you’re constantly dragging behind you — slowing growth, draining profits, and leaving you stressed every time a payment is due. High interest rates? Unpredictable terms? They can make even a thriving business feel stuck.
But here’s the good news: debt isn’t the enemy. It’s just a tool. And with the right plan, it can be managed, reshaped, and even leveraged to move your business forward.
We put together this guide to walk you through how to evaluate, restructure, and tackle your business debt - so you can reclaim cash flow, reduce stress, and get back to doing what you love.
Get the Full Picture Before Making a Move
Think of this as your financial mood board. You wouldn’t start a design project without seeing the big picture, right?
Write down every debt:
Balance owed
Interest rate
Minimum payment
Due date
Seeing it all in one place gives you clarity and can help you choose the best strategy instead of reacting in the dark.
Restructure or Refinance Strategically
Refinancing doesn’t mean defeat. It means you’re taking control. Depending on your credit and cash flow, you might explore:
0% Intro APR Credit Cards → Hit pause on interest while you pay down balance
Personal Loans (fixed rate) → Roll variable, high-interest debt into a single, predictable payment.
Home Equity Line of Credit (HELOC) → If you own a home, this can unlock much lower rates.
The goal? Lower interest, fewer surprises, and more breathing room.
Need help deciding which is best for your business? Book A Consultation
Pick a Repayment Strategy That Works For You
There’s no one-size-fits-all. The best debt payoff method is the one you’ll actually stick with.
Snowball Method: Pay off the smallest balance first → motivational quick wins.
Avalanche Method: Pay off the highest interest first → saves more money in the long-term.
Both work. The key is consistency and momentum.
Don’t Be Afraid to Negotiate (Yes, You Can)
Here’s an underrated move: pick up the phone.
Call your lender or credit card company and ask for:
A lower interest rate
A more flexible payment plan
Waived fees
You’d be surprised how often they’ll say yes (especially if you’ve been consistent and show you’re serious about repayment!)
Sprint Toward Extra Cash Flow
Sometimes the best debt payoff method isn’t cutting costs - it’s earning more (even temporarily).
Consider:
A limited time offer for your services
Repurposing or licensing old work
Collaborating on a package or bundle with a fellow business owner
Every extra dollar above your minimum payments can make a difference in the long-term.
Remember: this is a sprint, not your forever pace.
Final Word: You’re Not Stuck
You didn’t launch your business to feel trapped by debt. And the truth is… You don’t have to!
With the right structure, strategy, and a little support, you can transform debt from a weight on your shoulders into just another line item in a thriving, profitable business.