By the time a small business begins seeking business debt relief they may feel like they have run out of debt relief solutions and are searching for answers regarding how to keep their business and meet the demands of creditors. They may be getting calls and even threats from creditors making things even more difficult to deal with. The stress involved in trying to do this generally creates an environment that makes it very hard to think clearly about what steps to take or what options are available to find debt relief.  But there are several options available depending on the amount of debt that a business has.

Here is a look at some common types of business dent relief.

One way to get quick relief from debt is to get a short-term loan for the amount owed. These loans are usually given for a period of thirty to 180 days and have a lower interest rate than many of the outstanding debts that are currently owed by the company. Most people who seek these loans do not have debts such as credit cards that have been unpaid and outstanding for a long period of time.

A long term business consolidation loan will take all of the debts of a company and give an individual a single loan payment which normally is also at a lower interest rate. These loans are guaranteed with assets within the company and usually if the business is swamped with debt the bank will ask for some type of surety to secure the loan.

In the past many small business owners took out a second on their home or borrowed on the equity to meet creditor demands. However, in today's housing market and credit crisis this is not a viable option unless the amount being borrowed is far less than the homes current assessed value.

While there are constantly advertisements and information on websites about paying a fee to learn about government grants and bailout money for small businesses. Most of the information found will not apply to the business owner seeking small business debt relief.

Governments bail-out businesses that are large and whose closure will have a major financial impact on a community. In other words if the business has several thousand employees who will lose their jobs if your business closes then you may qualify for government bailout money. This fund was not set up for small businesses whose closing will affect a minimal number of people.

A business debt consolidation loan is one that is government backed and received through the Small Business Administration (SBA). This loan acts as the private banks long term business consolidation loan but normally has a lower interest rate and does not require as much surety to qualify for. There are certain required classes and workshops that an individual must participate in and an interview with a financial planner is required before an individual can apply for this loan.

After exhausting every loan option available to get business debt relief there are other avenues that a business may want to explore. One of these is to seek partners or investors. There are many instances when a business has been able to stay open due to investor and partner financing. For individuals who have clung to the independence afforded one who does not have partners, when the debt load becomes too heavy, it may be time to take on some partners to share the load.

Sometimes it is hard to remember that the goal of creditors is not to put a small business out of business. The interest rates continue to climb, the late fees pile up, and the last person most people in a credit crunch want to do is talk to the people who they owe money. However, by contacting the companies that are owed money it is often possible to renegotiate loans and interest rates to a monthly payment that is affordable. When calling a company it is important to speak to the finance manager, not the representative who answers the phone. The decision to make adjustments to a loan or change an interest rate must come from the top. It is repetitious and, for most people, embarrassing to repeat the request several times to individuals who cannot make a decision. In most cases the business will be required to submit the request in writing with a financial plan that shows that the lower payments can be made and how long it will take to pay the loan or credit card off.

If this is something that a person is very uncomfortable doing there are business debt counseling agencies that can do it for them. These companies specialize in small business debt relief. There are two types of agencies and the person deciding whether or not to select a company will want to be sure that they are getting the agency that provides the services that are being sought.

These are fee based agencies and many times it is difficult to find out what their fee structure is. However, finding out about the agency that is being considered, what services they provide, their reputation, and their fee structure is vital when selecting a company to represent you.

One type of business debt counseling agency provides only advice and counseling. They will not contact the companies that are owed money nor will they negotiate repayment of loans. The representative will normally evaluate the financial status and assets of the company and give advice on who the business should contact regarding renegotiating loans and debt.

The other business debt counseling agency offers the whole package. They appoint a financial adviser to the business who meets and discusses every part of the financial status of the business. The company creates a repayment plan and talks to the creditors involved. They set up a payment program so the business is sending one check to the company who then disburses the funds to the creditors. The business owner is provided with a direct representative of the company to discuss any changes in financial status or measures that the individual can take to reduce their debt and loss ratio. In addition, the agency provides workshops and classes to help the business owner become stronger and more resilient in economically stressful times.