Reducing Small Business Debt

Being the owner of a small business has its challenges. There are bills to pay, customers to keep happy, competitors to keep an eye on, employees to train…the list goes on and on. One of a small business owner’s biggest challenges is keeping an eye on the company’s debt. Debt and unmanageable monthly accounts payable can easily cause a shutdown of a small business. At PaydayLoansCashAdvance we are here to help you in figuring out how to reduce your debt and staying in business!

There are ways to minimize your small business debt and implementing a sound financial plan is a good start. PaydayLoansCashAdvance has some ideas to help you lower business debt and stay open for business. A sound business financial plan could even lead to you being able to expand your business in the future. Let’s take a closer look at some ideas that can help reduce your small business debt.

Avoid Borrowing More Money Than You Need

Make sure that you borrow only the money that you need to sustain the business for the amount of time you have projected. If you borrow too much, it could take a lot longer for you to pay the money back and then you also run the risk of not being able to pay it back at all. Borrowing more than you need may also lead you to use the funds for discretionary purposes that could otherwise wait. Making smart decisions on what is a necessary piece of equipment and what is a luxury could help your business grow. Is adding that part-time employee necessary? Can the new sign wait until cash flow gets better? Borrowing more than you absolutely need may lead to bad business decisions. Just borrow what is necessary.


Take a look at the place that your business is in. Is it rented? Do you own the building? If you are renting, you might want to talk to the landlord to see if there is a way for them to reduce the rent for a certain period of time. Maybe subletting or rent sharing with a complimentary business could help reduce debt. Look around, you might be able to find a location that is less expensive in rent and may even have more visibility.

Today, many building owners are upside down in their mortgages. If you rent you may have a discussion with your landlord about renting-to-own your space, or helping out with building management in exchange for rent.

Paying off Your Debts

One of the best ways to reduce your monthly expenses is to pay off debt. While that may seem obvious, it is important to prioritize the creditors to determine which debts would be most valuable to pay off first.

Paying off the highest interest rate debts first would make sense and then follow with debts with a lower rate. Don’t be afraid to get a hold of your creditors and inquire if there may be a possibility to have them reduce your rate, principal, and monthly payment. Perhaps they would be willing to set up a new payment plan. They may even temporarily reduce or even eliminate interest for a period of time. Talk with your creditors; let them know you have every intention of fulfilling your obligations, but ask if they can offer any alternatives. You may find many of your creditors more than willing to help.

Look for Low/No Cost Marketing Ideas

Most businesses will find the need to advertise. A small business starting out can reduce debt by searching for promotional and advertising vehicles that are low or no cost. You may team up with a local pizza shop to put your fliers on their delivery boxes. Utilize Facebook, Twitter and Email. Share marketing resources with like-minded businesses. Think outside the box. Rather than racking up expensive advertising debts with newspapers and radio stations, use low cost alternatives.

Small business debt, especially when you are just starting out, is pretty much unavoidable. Keeping your debt low and manageable is smart business and could keep you in business longer. At we are happy to supply answers and ideas regarding how to lower business debt.

The operator of this website is not a lender.
This site will share the form information provided by the consumer with one or more lenders.
This site can connect you with a cash advance lender based on your form and lender requirements.
Not all customers will be connected with a lender, and not all forms will be approved by a lender.
PaydayLoansCashAdvance cannot guarantee the amount of funds that may be extended if a lender approves the form.
*Not all lenders can provide up to $1,000. Consumer loan amounts vary bases on creditworthiness.
Lenders tend to provide upper range loan amounts to returning customers. Cash transfer time may vary between lenders.
Funds are not available until the next business day. Cash advances are not available in all states.
Lenders may undertake credit checks or otherwise verify the consumer’s social security number or other information.
If and when lenders preform credit checks they are ran via specialized credit bureaus.
Late payments of loans may result in additional fees or collection activities, or both.
Non-payment of credit could result in collection activities.
Each Lender has their own terms and conditions, please review their policies for further information.
Every Lender has its own renewal policy, which may differ from Lender to Lender. Please review your Lender's renewal policy.

Please refer to our Privacy Policy for important information on the use of cookies.
By continuing to use this website, you agree to the Notices and Disclosures and the Privacy Policy.

Copyright © 2014 All rights reserved.
3172 North Rainbow Boulevard #1212 Las Vegas NV 89108