Business Loan Prepayment Penalties: Why Paying Off Early Can Still Cost You Thousands
SBA 7(a) loans charge 5/3/1% only on 15-year-plus terms prepaid within 3 years, while 504 penalties run 10 years — run the breakeven before paying off early.
#debt-payoff
Debt Payoff
Strategies and tracking for debt payoff and reduction
Business Debt Consolidation: When to Use Personal vs. Business Loans and How to Structure the Refinance
Consolidate business debt with a personal or business loan. Compare rates, terms, and tax implications, then follow a 7-step framework to actually save money and stop re-accumulating debt.
The Rule of 78: Why Paying Off an Equipment Loan Early Saves Less Than You Think
The Rule of 78 front-loads loan interest so a lender on a 48-month, $8,000-interest equipment loan has earned about 74% of that interest by month 24 — gutting the savings from early payoff. Here's how precomputed loans work, where they're still legal under 15 U.S.C. § 1615, and how to spot one before you sign.
How to Pay Off Tax Debt: A Complete Guide to IRS Payment Options and Settlement Strategies
A practical breakdown of every IRS option for resolving tax debt in 2026—short-term plans, installment agreements up to 72 months, Offers in Compromise (accepted on roughly 30%–40% of applications), Currently Not Collectible status, and bankruptcy—plus how clean bookkeeping cuts the assessed bill before negotiation begins.
IRS Fresh Start Program: Complete Guide to Tax Debt Relief
The IRS Fresh Start Program offers four relief tools—Offer in Compromise, installment agreements, penalty abatement, and Currently Not Collectible status—that
IRS Currently Not Collectible Status: What It Is and How to Get It
IRS Currently Not Collectible (CNC) status pauses all collection activity—wage garnishments, bank levies, asset seizures—for taxpayers whose income minus allowable expenses leaves no disposable income. Learn how to qualify, apply using Form 433-F, and use the 10-year collection statute expiration date as a strategic advantage.
Loan Principal: What It Is, How It Works, and How to Pay It Down Faster
Loan principal is the original amount borrowed—distinct from interest, which is a deductible expense. This guide covers how amortization front-loads interest charges, how to correctly split principal and interest in your books, and four proven strategies to pay down debt faster while avoiding prepayment penalties.
How to Reduce Small Business Debt: 8 Proven Strategies That Actually Work
Learn 8 proven strategies to reduce small business debt, including the debt avalanche and snowball methods, debt consolidation, renegotiating loan terms, cutting costs strategically, and boosting revenue. Practical advice with current statistics.
Loan Principal vs. Interest: A Beancount Strategy for Faster Payoff
Understand how principal and interest interact, model payoff scenarios, and use Beancount to accelerate loan repayment.