A debt schedule is a dated inventory of covered business debts. It supplements the balance sheet; it does not establish loan approval or the debt a buyer will assume.
One business. One reporting date.
What is a business debt schedule?
A business debt schedule lists the company’s covered loans and other financing obligations, with the creditor, current balance, payment, rate, maturity and collateral for each. It helps the lender understand existing commitments alongside financial statements.
Fillable PDF
A one-page Duneland form for recording the debt inventory. Complete it using current records and the instructions below. It is not an official numbered SBA form.
Excel workbook
A working companion with instructions, a blank schedule and a fictional example. It supports payment calculations; check frequency assumptions and formulas before relying on totals.
Use the business’s obligations here. The owner’s personal assets and liabilities belong on a personal financial statement. Keep different legal entities’ schedules separate unless the lender asks for a consolidated view.
Prepare the source records
How to complete the schedule
- Set the entity and as-of date. Use the legal business name and a date consistent with the financial statements being reviewed. Gather lender statements, loan agreements, lease schedules and the relevant general-ledger accounts.
- Enter one covered obligation per row. Identify the creditor and financing type. Review term loans, revolving lines, notes, mortgages and finance/capital leases requested by the lender. Check shareholder advances rather than assuming all debt is owed to a bank.
- Separate original amounts from current balances. Take the original amount and date from the agreement; use an as-of-date statement or reconciled ledger for the remaining balance. A payoff quote may also include accrued interest or fees.
- Record the payment terms. Enter the payment amount and frequency, rate, maturity, collateral and current/delinquent status. Flag variable rates, interest-only periods, balloons or missing information instead of guessing.
- Check, reconcile and confirm delivery. Match the covered accounts to the balance sheet, review totals and confirm the receiving lender’s signature and format requirements. Use the agreed private document channel for completed financial records.
A fictional worked example
Four obligations, one consistent summary
Example Services LLC is preparing an acquisition financing package as of September 30, 2026. These invented figures illustrate the method, not an actual borrower, lender offer or underwriting result. The credit line has a $75,000 limit and $20,000 outstanding.
| Obligation | Current balance | Recorded payment | Monthly equivalent |
|---|---|---|---|
| Equipment loan | $48,000 | $1,500 monthly | $1,500 |
| Working-capital loan | $12,000 | $300 weekly | $1,300 |
| Revolving credit line | $20,000 | $250 this month | $250 |
| Shareholder note | $15,000 | $150 monthly | $150 |
| Total | $95,000 | Frequencies normalized | $3,200 |
The monthly equivalent is $1,500 + $1,300 + $250 + $150 = $3,200. Multiplying by 12 gives a $38,400 annualized planning figure. It assumes the stated payments continue; changing credit-line payments, maturities and any balloon payment require separate review.
Normalize payments before adding them
Adding a $300 weekly payment to monthly payments understates the total. In this example, $300 × 52 ÷ 12 = $1,300 per month, using 52 weekly payments per year. That is an average, not the exact cash paid in every calendar month.
Record daily, weekly, biweekly, monthly or other frequency explicitly. For daily payments, use the contractual payment calendar; do not silently assume 30 payments per month. For irregular, variable or balloon payments, show the terms and obtain the necessary repayment detail.
A monthly equivalent organizes the current schedule. It does not replace a projection of future required principal and interest or the cash-flow analysis in a debt service coverage ratio calculation.
Reconcile covered debt, not every liability
The Duneland form excludes accounts receivable and accounts payable. Receivables are assets, not debt. Other lenders’ schedules may also exclude accrued liabilities; follow the requested scope.
Match the listed balances to their corresponding balance-sheet accounts at the same date, including current and long-term portions without double-counting. Explain timing differences or missing entries rather than forcing a total to agree.
Compare lender instructions: SELCO’s schedule excludes receivables and payables; REI Oklahoma’s form excludes payables and accrued liabilities and specifies the interim balance-sheet date.
Current position → proposed transaction
Keep closing treatment separate
The seller’s current debt is not automatically debt the buyer assumes. Preserve the original inventory and record the proposed treatment alongside it. The purchase agreement, lender requirements, payoff documents and any required consents determine the outcome.
- Equipment loan
- Proposed: retain; confirm terms and transfer requirements.
- Working-capital loan
- Proposed: repay at closing; obtain payoff and lien-release information.
- Revolving credit line
- Proposed: repay; confirm accrued interest and cancellation terms.
- Shareholder note
- Unresolved: confirm settlement, repayment or any agreed standby terms.
These are discussion assumptions, not confirmed payoffs or an approved post-closing schedule. Add proposed acquisition borrowing only in the separate transaction model. Include retained obligations, new financing, applicable seller notes and transaction costs when developing the capital stack. Recheck future debt service before drawing a financing conclusion.
Which debt schedule does an SBA lender need?
The current SBA SOP 50 10 8.1, effective October 1, 2026, discusses obtaining an applicant-prepared current debt schedule, including shareholder debt, to support debt-service analysis. That supports a complete current inventory; it does not make Duneland’s template an official SBA form.
SBA Form 2202 is presented as a convenience schedule for the Disaster Business Loan application, with an alternative schedule permitted. It is not the universal debt-schedule form for every 7(a) acquisition. Confirm the program, date and format with your lender.
Free downloads. No email required. Fill them out on your own device.
Business debt schedule questions
What if the business has no debt?
Confirm the entity and as-of date, then state that no debt covered by the requested schedule is outstanding. Check credit lines, business cards, equipment finance and shareholder advances before doing so. A blank form alone can look incomplete; follow the lender’s instructions for a no-debt statement.
Do business credit cards go on the schedule?
Follow the receiving lender’s scope. Bank of America’s debt schedule, for example, explicitly includes credit-card debts. Record the business obligation and current payment requirement where requested; do not treat the card’s credit limit as its outstanding balance.
Is this an amortization schedule?
No. This template lists current obligations and their terms as of a stated date. An amortization schedule projects how principal and interest change over time. A current-payment total cannot replace that projection or a lender’s debt-service analysis.
Will every lender accept the same PDF or Excel file?
No universal acceptance is promised. These Duneland templates help organize the information. Your lender may request its own form, a different reporting date, signatures or additional supporting documents. Confirm its requirements before submitting the completed file.
Complete the financing picture
Prepared by Duneland Financial. Sources checked October 5, 2026. Bank forms illustrate their issuers’ requirements; they do not imply affiliation with Duneland or universal lender acceptance.