Any business owner who needs to wait out the tough times, it might be necessary to make the correct choice for the survival of the business. When troubles persist, small business debt consolidation can be a viable alternative for you. It will reduce the pressure of owing money to creditors and help you to save finances while paving a path toward financial security.

The Small Business Administration (SBA) offers small business debt relief for a variety of purposes, including debt consolidation. Their primary programs of financial assistance are the 7(a) Loan program and 504 Loan program. In addition to small business debt consolidation loans, the money you receive can be used to purchase buildings and equipment, finance construction, refinance business debt, and buy furniture and supplies. 

The forms below will help you to start the process of debt consolidation for your business: 

Follow these steps to participate in a small business debt relief program:

  1. Determine which debts need to be consolidated. Consult your credit history to identify which loans can qualify for a loan.
  2. Apply for a small business debt consolidation loan. Learn about the lenders to discover the terms for consolidation.
  3. When a nonprofit lender that provides small business debt consolidation loans approves your request, use the obtained proceeds to pay off the qualified loans you have decided to consolidate.
  4. Make payments toward the new loan in accordance with the conditions established by the lender. 

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SBA Form 159 "Fee Disclosure and Compensation Agreement"

Rate (4.6 / 5) 113 votes
Size: 298 KB
3 pages

Download this form in order to identify a third party agent hired by a small business owner for assistance in a Small Business Administration (SBA) loan application.

SBA Form 1919 "SBA 7(A) Borrower Information Form"

Rate (4.4 / 5) 73 votes
Size: 486 KB
13 pages

This form is issued by the Small Business Administration (SBA) and used by small businesses applying for a 7(a) loan and submitted to the SBA participating lender.

SBA Form 413 "Personal Financial Statement"

Rate (4.3 / 5) 74 votes
Size: 478 KB
6 pages

SBA Form 912 "Statement of Personal History"

Rate (4.6 / 5) 39 votes
Size: 1 MB
2 pages