What this form is for
Banks and SBA lenders require this schedule during underwriting to see every dollar your business owes, assess your debt-service coverage, and verify that collateral is not already pledged elsewhere. You will complete one row for each obligation—term loans, lines of credit, equipment notes, vehicle loans, capital leases, and any seller or related-party financing.
Before you start
- Loan agreements, promissory notes, and credit-line documents for every obligation in the business name
- Most recent statements showing current principal balance, interest rate, monthly payment amount, and maturity date for each debt
- Lease agreements if you are treating any lease as a capital or financing lease on your balance sheet
- Collateral descriptions and UCC filing details if any lender has a lien on specific assets or a blanket lien
- Legal entity name exactly as it appears on each loan document, and confirm you have selected your governing state in the application settings before submitting this schedule
Step-by-step
1. Select your governing state in the application header if you have not already done so; some SBA districts require state-specific attestations on debt schedules.
2. For each creditor, enter the legal name of the lender or lessor exactly as shown on the contract, plus account or loan number.
3. Record the original loan amount, current outstanding balance, annual interest rate, and monthly payment (principal and interest combined, or lease payment if applicable).
4. Enter the maturity or final payment date in month-day-year format; for revolving lines of credit, use the expiration or renewal date of the facility.
5. Describe collateral securing each obligation—real estate by street address, equipment by type and serial number, blanket lien on all assets, or unsecured if no collateral.
6. State the business purpose of each loan: working capital, equipment purchase, vehicle acquisition, real-estate acquisition, leasehold improvements, or other specific use.
7. Note whether any loan is guaranteed by the SBA, a state program, or a related party, and disclose if any creditor is an owner, officer, or affiliate of the business.
8. Total the outstanding balance column and the monthly payment column at the bottom of the schedule; these figures feed directly into cash-flow and debt-service-coverage worksheets.
9. Attach copies of the first page and signature page of each note or agreement as exhibits referenced by line number on the schedule.
What lenders look for
- Underwriters cross-check this schedule against your balance sheet and cash-flow statement; mismatches in total liabilities or missing debts are immediate red flags that delay approval.
- Disclose every obligation, including informally documented loans from family or partners; hiding related-party debt can be grounds for denial or later default.
- If monthly payments seem low relative to balances, be ready to explain balloon structures, interest-only periods, or deferred payment terms in a footnote.