Here are six tips on how to deal with loan debt in business:

1. Create a Budget: Develop a detailed budget that outlines your income and expenses. This will help you manage cash flow and allocate funds for loan repayments.

2. Prioritize Payments: Focus on paying off high-interest loans first. This reduces the overall interest you’ll pay over time and helps improve your financial position.

3. Negotiate Terms: Reach out to your lenders to discuss potentially restructuring your loan terms. They may offer options like lower interest rates or extended repayment periods.

4. Increase Revenue: Look for ways to boost sales, such as launching new products, expanding your services, or enhancing your marketing efforts. Increased revenue can help you meet loan obligations more comfortably.

5. Consider Consolidation: If you have multiple loans, consolidating them into a single loan with a lower interest rate can simplify payments and reduce monthly costs.

6. Seek Professional Advice: Consult with a financial advisor or accountant who specializes in business finance. They can provide tailored strategies to manage your debt effectively.