Small business debt restructuring: Throwing your business a lifeline

There’s no doubt about it – running a small business can be tough, and when debt starts adding up, it can feel like you’re stuck in a downward spiral. If only there was a magic wand to wave and reduce your business debt…

Small Business Restructuring (SBR) might just be the next best thing! 

SBR offers you the chance to reduce debts by 75 – 80% – in as little as 35 business days. We know it sounds too good to be true, however, with the right guidance and a solid plan, it’s totally possible. 

Small Business Restructuring is designed to help struggling businesses regain control, avoid liquidation, and create a fresh path toward financial stability. It’s not a magic fix, but a practical and effective solution if you’re ready to take charge of your financial future.

What Is Small Business Restructuring?

At Fix My Credit, we like to think of SBR as a way to clear out your business of debt – like a detox. It’s an Australian Taxation Office (ATO)-backed initiative designed to help small businesses restructure their debts and avoid liquidation. 

You might be thinking it sounds like bankruptcy or voluntary administration, however, SBR keeps your business doors open while creating a sustainable plan to manage and reduce your debts. 

Key advantages of Small Business Restructuring

• Reduce debts: Slash what you owe by up to 80%.
• Stay operational: Keep running your business while working on your financial issues.
• Avoid liquidation: Build a roadmap to recovery without shutting everything down.

SBR, how does it work?

The Small Business Restructuring process is simple. It involves: 

1. Pre-assessment: This is where we figure out if your business qualifies for SBR. Fill out our simple debt negotiation questionnaire to get started.
2. Engage a restructuring practitioner: A qualified Fix My Credit expert will help you develop a custom financial plan and negotiate with creditors (yes, we do this too)!
3. Implement the plan: Over 35 business days, we’ll work with creditors to lock in debt reductions and better repayment terms.

By the end of this process, you’ll have a clear path to more stability and less stress.

Why choose Fix My Credit to help you with SBR?

It’s important to have the right people by your side throughout the SBR process. At Fix My Credit, we have 10+ years of experience helping many businesses with debt. We tailor solutions to each business, catering to your unique needs and offer the most cost-effective service in Australia. 

Will SBR affect my credit score?

While restructuring may impact your credit report, it’s a much better option than bankruptcy. Plus, as your business recovers, your credit score has the opportunity to bounce back stronger than ever.

What debts can be included?

Small Business Restructuring covers unsecured debts like ATO liabilities and unpaid supplier invoices. Secured debts (like loans tied to assets) usually aren’t included, but we’ll help you explore other options if needed.

Ready to restructure – let’s go!

Don’t leave it too late to take action against small business debt. Start with our debt negotiation questionnaire to gain some insights into your options – it only takes a few minutes to complete! 

At Fix My Credit, we’re here to help you reduce debt, protect your business, and set you up for long-term success.