Business debt payoff

Business debt has a way of piling up quietly: a card for supplies, a loan for the truck, a cash advance to get through a slow month. We'll list it all, stop the bleeding and build a payoff plan that still lets you run the business.

What we'll work on

• List every business debt with rates, payments and payoff dates
• Stop new borrowing, starting with merchant cash advances
• A business debt snowball that fits your cash flow
• Negotiate better terms with vendors where it makes sense
• Build a cash cushion so you don't need the card next slow season

Common questions

Should I pay off business debt or save cash first?

Build a small cash cushion first so one bad week doesn't send you back to the card. Then attack the debt, smallest balance first, while you keep growing the cushion over time.

Are merchant cash advances bad?

They're usually one of the most expensive ways to borrow, because the daily or weekly payments come right out of your sales. If you have one, paying it off and never taking another is often the first goal.

Do you consolidate or settle business debt?

No. I'm a coach, not a lender or debt company. We change the habits and cash flow that created the debt, and pay it off for good.

Book a free 30-minute small business call, open 7 days a week, 9 AM to 5 PM Eastern. Email [email protected].

Gino DiPierro completed Ramsey Solutions Financial Coach Master Training. Completion does not create an employment or agency relationship with Ramsey Solutions or its affiliates, is not a license or credential to give legal, tax, accounting, investment or other professional services, and is not an endorsement by Ramsey Solutions. Coaching is education and accountability, not tax, legal or accounting advice. For taxes, payroll filings and entity questions, work with a licensed CPA or attorney.