What You Need For Your Business Debt Schedule Template


Jeffrey Bumbales


Table of Contents

A strong business debt schedule is a necessity for business owners who want to avoid the headaches that can accompany repayment, but that’s far from the only purpose it serves.

A well-made debt schedule is an important financial modeling tool and can help you keep your debt organized, save you from missing any payments, and much more.

It’s also incredibly useful for the simple reason that it allows you to visualize your business debt, which makes it seem more tangible and therefore easier to manage.

It’s a task that the vast majority of small business owners have to contend with; reports show that around 70% of small businesses have outstanding debt and 43% applied for a loan in 2020 alone.  

If your business is among the countless millions with outstanding debt—and especially if you’ve only recently joined their ranks—you may be wondering how to go about creating a debt schedule of your own.

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You’ll want a business debt schedule that not only checks off the most basic requirements but also sets you up for timely, painless repayment and allows you to establish both short-term and long-term projections and plans.

To simplify this process, we’ve created a straightforward guide to understanding what goes into a debt schedule and how to design one that’s right for your needs.

First, let’s establish how debt schedules work and how you, as a small business owner, can benefit from one.

What Is a Debt Schedule for Business?

In short, a debt schedule is a table or list that outlines all of your company’s existing debts and all of the information related to their repayment. In addition to helping you manage your repayments, a solid business debt schedule offers various other benefits. By referencing it, you can:

  • Acquire future loans: A debt schedule can be a useful resource to have in the event that you require additional loans, as it can be presented, alongside your balance sheet, to potential new lenders as proof of your financial standing. For many business owners, applying for additional loans is an invaluable option to have; less than 50% of small businesses have their current funding needs met, and nearly a third go under due to a lack of adequate capital.
  • Monitor your business’s monetary health: More important than what your debt schedule can tell your lenders is what it can tell you. With just a quick glance, it should offer clarity on choices related to future or current loans.
  • Maintain accurate bookkeeping: Keep tabs on the money that’s leaving your business accounts beyond everyday expenses.
  • Prioritize repayment: You’ll be able to see which loans will mature first.

Everything You Need For A Debt Schedule

Business Debt Schedule
For any debt schedule, there are a few crucial pieces of the puzzle that you’ll need to incorporate. You can insert all of these details into an easy-to-work-with template, which will save you time and frustration.

Whatever your spreadsheet comfort level—from the Excel-averse to seasoned pros—there’s a template out there that will make creating and maintaining your business debt schedule a breeze.

How To Prepare Your Business Debt Schedule Form

Insert your debts into a ready-made template or recreate one of the many online debt schedule examples on your spreadsheet program of choice—just make sure that you’re constantly updating it so that you can stay on top of your debt.

It’s also important to mention that even if you operate multiple businesses, you should never combine those businesses’ debts into a single spreadsheet; each business debt schedule should remain entirely separate.

On this table, you’ll want to include:

1. A list of all of your business debts 

Naturally, the first step of creating your debt schedule is to compile a list of all of your outstanding business debt, including any:

Note that you should not include regular, everyday expenses that frequently fluctuate in this list, like accrued liabilities and accounts payable. In other words, you’re not going to include things like rent, utilities, payroll, etc.

You should list the debts included in your business debt schedule vertically, with the details (discussed below) listed to the right of each corresponding debt.

Once you’ve listed everything you owe to your lenders, you can add…

2. The details of each debt 

For each debt listed, you’ll need to include all features that pertain to it. This will provide useful insights into how best to manage your business debt, such as the order in which to pay it off and whether you’re in a good position to acquire more.

These details include the:

  • Creditor or lender
  • Starting and current balance
  • Interest rate
  • Monthly (or weekly) payment
  • Due date: the monthly or weekly date when you must make a payment
  • Maturity date: the date when you must fully repay the loan
  • Collateral: the assets you used to secure your loan, such as a vehicle, building, equipment, etc.

It’s also highly recommended to add a column to specifically describe what you used each loan for, be it equipment, inventory, property, payroll, etc.

Don’t Forget To Update Your Debt Schedules

Business Debt Schedule

Once you’ve completed your first debt schedule, it’s crucial to continue updating it monthly. Failing to do so will render it useless to potential creditors and lenders and also to yourself, as an out-of-date schedule won’t paint a clear picture of your financial health or support accurate bookkeeping.

One way you can reduce the hassle of managing debt is through automatic withdrawals. Not only does that save you the effort of manually paying bills every week or month, but it also reduces the risk of missing a payment.

Debt doesn’t have to be a scary word, and by coming face-to-face with yours, you can set your small business up for a bright, well-organized future.


Make Missed Payments a Thing of the Past

Set up automatic payments, enjoy flexible remittances with select business financing options, and save yourself from missed payments and penalties.

Talk to a loan expert and learn about financing options that are ideally suited for your business.

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