UNDERSTAND THE CONTRACT
Business debt
Review business borrowing, cash flow and any personal guarantees.
Worth exploring when…
Your business is struggling with loans, credit lines or merchant cash advances.
Possible fit, not an eligibility decision.What a useful next step looks like.
- 01
Gather the original agreements
Collect loan and advance contracts, payment schedules, guarantees, security agreements and recent lender communications.
- 02
Map the cash flow
Separate essential operating expenses from debt payments. Record daily or weekly withdrawals and seasonality.
- 03
Seek a contract-specific review
Discuss the actual documents with a qualified business adviser or attorney. Compare a workout, restructuring or other lawful options before signing new financing.
THE OTHER SIDE OF THE DECISION
What to weigh.
Guarantees, collateral and contract terms matter. Consumer debt programs may not cover these obligations.
Bring better questions.
- Am I personally liable under a guarantee?
- What collateral or receivables are involved?
- What would changing payments trigger?
- Who will do the work, and how are they paid?
Go to the source.
Checked October 15, 2026. General education; individual circumstances and applicable rules matter.