What belongs in a business debt schedule?
Use one row per loan or obligation. Gather a current statement and the repayment terms so a balance does not get confused with a payment. An existing loan can remain a demand on cash even when it is unrelated to the acquisition.
- Balance and regular payment
- Record the amount owed separately from the scheduled payment amount. A payoff quote can differ from a statement balance.
- Payments per year
- Use the actual payment frequency. The sheet multiplies the regular payment by this count to annualize it.
- After closing
- Choose Continues, Planned payoff or Unknown. A planned payoff needs a funding/document reference before the proposed continuing total excludes it.
- Maturity, collateral and questions
- Record the maturity date, a plain-language collateral description and open issues. Those remain manual follow-ups, even when the payment math is complete.
A payoff changes the proposed view, not today's obligation
Hypothetical debt schedule · USD
| Debt | Balance | Monthly payment | Annualized | After closing |
|---|---|---|---|---|
| Equipment loan | $120,000 | $2,500 | $30,000 | Continues |
| Existing term loan | $40,000 | $1,000 | $12,000 | Planned payoff |
Current balances total $160,000. Annualized scheduled payments total $42,000. The proposed continuing total is $30,000 only after the term-loan payoff has a funding/document reference. The lender still needs to confirm the actual payoff and financing plan.
If that reference is missing, the Unresolved payoff tab shows Incomplete. Selecting a payoff is not the same as having the cash to complete it.
Fill out the debt schedule in five steps
- Start with evidence, one obligation per row. Use a current statement and the payment terms. Enter a short lender/loan label; no account numbers or borrower identifiers are needed in this public template. A missing statement is an open question, not a zero balance.
- Separate the balance from the regular payment. In the example, the equipment loan has a $120,000 balance and a $2,500 monthly payment. Enter 12 payments per year to get $30,000 annualized. Do not enter $30,000 as the regular payment and multiply it again.
- Choose what is proposed after closing. The $40,000 term loan is a planned payoff. Obtain a dated payoff quote and identify funding in the project budget. A reference makes the spreadsheet's proposed treatment traceable; it does not confirm payoff or lender acceptance.
- Resolve the open items. Missing payment amounts or an unknown closing treatment need follow-up. Leave unknowns blank; use numeric zero only when confirmed. Check maturity, collateral, balloons, rate resets, fees and any payments due before closing against the actual documents.
- Build the complete repayment view. The worked example's proposed continuing payments are $30,000 a year. Add the proposed acquisition loan and any paying seller note separately, once each. The workbook's continuing total covers listed existing debt; it is not total post-closing debt service.
Open the free workbook alongside these steps → No sign-up or email required. Keep the original statements and supporting documents for your lender.
From existing payments to the full repayment plan
Hypothetical annual payment bridge · USD
Assume the worked example's term-loan payoff occurs as planned. Add $30,000 continuing equipment payments + $120,000 proposed acquisition-loan payments + $12,000 paying seller-note payments = $162,000 total annual scheduled debt service.
If the existing term loan continues instead, its $12,000 annualized payments bring the total to $174,000, assuming the other payments are unchanged. In a real restructure, recheck all financing amounts and payments. A payoff funded by more acquisition debt can change the new loan payment too.
The $40,000 balance being paid off belongs in the closing funding plan; it is not a $40,000 recurring annual installment. Check the month-by-month cash plan as well: an annual payment total does not show when cash gets tight. These assumed payments are not loan quotes or evidence of sufficient repayment capacity.
Payment frequency matters
For regular payments, the usual annualization counts are monthly 12, quarterly 4, twice monthly 24, every two weeks 26, weekly 52 and annual 1. Twice-monthly payments and every-two-week payments are different schedules.
These are annualization conventions, not an exact calendar forecast. A year can contain an extra weekly payment date, and a maturing loan can require more than its regular installments. Check the actual payment calendar and loan terms.
What the download includes
Three editable tabs: Your schedule, Worked example and Unresolved payoff. Empty rows can stay empty. A used row with missing amounts or an unknown closing treatment stays unresolved. The workbook contains no macros and sends no inputs to Precise SBA.
This original preparation aid is not an official lender form or a payoff instruction. Your lender may request a different format. Continue with our document checklist, cash-flow guide and competitor-acquisition guide. The SBA explains that application documents depend on the loan and lender in its 7(a) overview.