Definition of ‘Debt’
Debt is that part of your business finance which is made by way of loans and borrowings, it is usually secured on business assets and sometimes personal assets of the owner.
Debt is normally evidenced by a note or document which specifies the amount, interest rate, and date of repayment.
Financial Projections Template Debt Definition
The debt definition for use in the financial projections template is loans or borrowings used to finance the business for a specified term and interest rate.
The debt balance at the end of a year is calculated as the opening debt plus new debt less debt repayments during the year.
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