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If you run a small business in Indianapolis and are struggling with debt, Delancey Street can help. We provide customized debt relief solutions to help business owners get out of debt and achieve financial freedom.

How We Can Help With Business Debt

Our team of experts has extensive experience helping small business owners settle their debts and restructure loans. We take an empathetic approach and assign a dedicated specialist to work one-on-one with each client.Some of the ways we can help Indianapolis business owners include:

• Debt settlement – We negotiate with creditors to reduce balances owed. Many debts can be settled for 30-60% less than what is currently owed.
• Debt consolidation – We can roll multiple debts into one monthly payment at a lower interest rate.
• Loan restructuring – We work with lenders to modify loan terms, reduce payments, waive fees, and find other solutions.
• Ongoing money management – Our coaches provide guidance on budgeting, cash flow planning, and other best practices.

Why Delancey Street?

What makes Delancey Street different is our commitment to understanding each client’s unique situation. We take time to listen and then tailor solutions to their specific business needs.Our debt specialists have worked with Indianapolis companies of all sizes across many industries. We’re familiar with the local business landscape and have relationships with many local lenders.We also stand out with our exceptional customer service. Clients have a direct line to their dedicated specialist, so you’ll never feel ignored or like just another account number. We make ourselves available nights and weekends when needed.

How Our Debt Relief Process Works

If you choose to work with Delancey Street, our Indianapolis business debt relief process follows three simple steps:

1. Free Consultation

Your first call is a no-obligation consultation to discuss your financial situation. We’ll review your current debts, revenue, expenses, and other key factors to start mapping out a plan. There is no charge for this initial meeting.

2. Document Collection

Next we’ll request documentation to perform an in-depth analysis of your finances. This helps us gain a comprehensive view so we can strategize the best approach. Common documents needed include tax returns, bank statements, profit and loss statements, accounts receivable/payable reports, and details on any assets that could be leveraged.

3. Proposal and Negotiation

Once we review your documentation, we’ll outline a detailed relief plan. This proposal provides an overview of each debt, recommended settlement amounts, new repayment terms, and more. We’ll also highlight areas where improving cash flow could accelerate the process.Armed with this information, our specialists go to work negotiating your debt balances. We leverage our expertise and relationships to achieve maximum reductions. We don’t rest until securing a deal that meets both your budget and timeline expectations.

Addressing Common Small Business Debt Problems

Indianapolis business owners face many of the same debt problems, including:

Cash Flow Interruptions Most small businesses operate on tight margins. Any disruption to cash flow – a large client failing to pay, seasonality, supply chain issues – can quickly create an overreliance on debt to stay afloat. It may begin with tapping credit cards or lines of credit, but can spiral into merchant cash advances with exorbitant rates and aggressive repayment terms.Delancey Street can help restructure these debts to alleviate the cash crunch. We also provide coaching on shoring up cash reserves so the business is better prepared to handle future interruptions.

Undercapitalization Many entrepreneurs lack experience accurately projecting costs associated with launching or expanding a business. They end up severely undercapitalized, again forcing them to resort to less favorable financing options simply to open their doors.If this sounds familiar, we guide clients on ways to attract growth capital from investors or lenders. We also help rework existing debts to allow more cash allocation towards business operations versus interest payments.

Overexpansion Ambitious business owners sometimes expand too rapidly before their operations can support additional overhead expenses. Opening new locations or taking on new hires/inventory before securing an adequate revenue pipeline often leads business owners to rely on quick cash sources like merchant cash advances.In cases of overexpansion, we help owners right-size their business to current demand levels. This may involve closing underperforming locations, renegotiating leases, or laying off recently added staff. Rightsizing reduces monthly costs, allowing excess cash flow to pay down debts incurred during the growth phase.

Personal vs Business Finances Many small business owners intermingle personal and business finances, including putting company expenses on personal credit cards. A business downturn can quickly bleed into personal financial problems.Untangling business and personal finances is a key step Delancey Street takes with most clients. From there we can approach business debt and personal debt through customized strategies. On the business side this may mean negotiating with merchant cash advance companies. For personal debts, it may involve credit counseling or debt consolidation loans to reduce interest rates.

Other Factors Many other factors can contribute to small business debt, including industry changes, losing a major client, lawsuits, divorce, and health issues. We’ve seen it all when helping Indianapolis business owners get out of debt. No situation is too far gone or complex for our team.

Alternatives to Working With a Debt Relief Company

Indianapolis business owners struggling with debt have a few options to consider beyond working with our debt relief services:

Debt Management Plans Non-profit credit counseling agencies provide debt management plans (DMPs) to help consumers repay unsecured debts. However, small business debts are typically not eligible for inclusion in DMPs.

Debt Consolidation Loans Banks and online lenders offer debt consolidation loans allowing borrowers to roll multiple high-interest debts into a single loan, ideally with a lower interest rate. But small business owners often don’t qualify for these loans when already overburdened by debt.

Bankruptcy Personal or business bankruptcy instantly stops collections calls and lawsuits. And in some cases debt balances can be reduced. However, bankruptcy leaves long-lasting damage to credit scores and personal/business reputations. Delancey Street helps most clients resolve debts out-of-court. But if bankruptcy begins to appear the only option, we guide clients through the complex process.

DIY Settlements Some business owners consider contacting creditors to negotiate debt reductions on their own. This is certainly an option, but has risks. Most lack the expertise to secure optimal settlements. And agreeing to a repayment plan they cannot afford over the long-term often leads them right back into debt hardship.

The Benefits of Working With Delancey Street

We encourage Indianapolis business owners to consider the experience and firepower the Delancey Street team brings to accelerating your debt relief. Specific benefits include:

Proven Debt Relief Track Record We’ve negotiated billions in consumer and small business debt relief over decades. These years of experience allow us to anticipate creditor reactions and negotiate effectively on our clients’ behalf.

Strong Creditor Relationships We know most creditors want to collect something rather than risk nonpayment if the debtor files bankruptcy. We leverage these relationships to obtain reasonable settlements across a wide variety of business debt products.

Customized Debt Relief Plans Every small business situation is unique. We spend time understanding the nuances before crafting practical solutions tailored to each client’s needs.

Ongoing Support Your journey doesn’t end once we negotiate debt settlements. We provide ongoing coaching to help clients make lasting changes to achieve financial stability. Many graduate from our program having learned budgeting disciplines and cash flow management techniques that prevent spiraling back into debt.

Cost Savings When weighing the benefits of professional debt relief, consider the long-term savings our services provide. We minimize interest payments on reduced principal balances, cap late fees, eliminate overlimit charges, and stop creditor collection calls. These savings often exceed our fees within the first few months of engagement.

Ready to Break the Debt Cycle?

If spiraling small business debt has you feeling trapped, know that many Indianapolis companies have regained control over their financial futures with Delancey Street’s help. You don’t have to tackle this alone.Our empathetic debt specialists treat each client like family. We’ll quickly get to work negotiating your debt balances down so you can allocate freed-up cash towards growing your business.To schedule a free consultation and learn more about our customized debt relief process, contact Delancey Street today at 212-210-1851. Or visit our website at www.delanceystreet.com.