- Small businesses often need more than one loan, so it can be helpful to consolidate when you have several.
- The cost of new equipment and upgrades alone can often surpass several thousand dollars, necessitating a separate loan to make the purchase.
- Business taxes also come with some unexpected expenses sometimes.
- Loans can be a lifesaver for a business, but things can get tricky and even cumbersome when you have more than one.
- There are many reasons a business may have problems repaying a loan. Sometimes the return doesn’t match the acquired financing, for instance.
- Multiple loans with varying due dates and requirements can be hard to pay back on time.
- Loans with high interest rates are even harder to pay back.
The Basics of Consolidating Business Debt
8 Factors You Must Consider During the Process
1. Ease of Management
3. Credit Boost
4. Shop for the Best Loan Terms
5. Interest Rates Don’t Always Change
6. Extension of Terms
7. Addressing the Real Issue
8. Don’t Get Sidetracked
How to Get Help From an Expert
Business debt is a challenge for any company, and often taxes are the cause. Silver Tax Group has assembled a team with the knowledge and experience to keep your taxes – and your IRS hassles – to a minimum.
Our tax attorneys are available 24/7 to find a customized solution to your tax issues. Contact us today for a free case evaluation or for answers to your tax problems.