Debt Schedule and Maturity Template

First, list everything the business owes: term loans, lines of credit, equipment notes, finance leases, vehicle loans and loans from owners. Collect each one's signed agreement, every amendment and lender notice, and the latest statement. Amendments can change rates, payments and maturity dates years after signing.

A lender's form is a summary, not a working schedule. The US Small Business Administration offers a suggested Schedule of Liabilities¹ for disaster loan applicants. It asks for each creditor's original amount and date, balance, maturity date, payment and collateral, and whether the debt is current. There is no column for the interest rate, so build a fuller register and fill in lenders' forms from it.

Give every loan one row in a register, with each term copied from the agreement in its own words.

If an agreement doesn't state a term, such as the day count, write "not stated" and ask the lender in writing. A known gap beats a guess nobody checks.

A typical template figures monthly interest as the balance times the annual rate, divided by 12. Many loans count interest by the day instead. Reinhart Boerner Van Deuren, a law firm, shows that an 8% rate charged by the day on a 360-day year costs 8.11% a year². On a $10,000,000 interest-only loan, that's $11,111 more than the $800,000 a borrower might expect.

One agreement can even use two day counts. Zevia, a beverage company, included a 2024 amendment to its bank loan in an SEC filing. It counts base rate loans on a 365- or 366-day year and Term SOFR loans on a 360-day year³, and notes that the 360-day basis means more interest. The bank signed it alone, as the lenders' agent, when the loan's old benchmark rate was being replaced.

For a floating rate, record the index, the margin, when the rate resets and any floor. In Zevia's agreement, Term SOFR is CME's published rate for the coming one, three or six months, taken two business days before each interest period. A fixed adjustment is added (0.11448% for one month), and the result counts as 0% if it would fall below zero. Update the rate on each reset date, not when the next statement arrives.

Each loan gets its own schedule, one row per payment: opening balance, days, interest, principal and closing balance.

1. 1

   Set the payment

   Use the agreement's figure, or a level payment over the amortization term, not the time to maturity.

2. 2

   Work out the interest

   Multiply the opening balance by the rate and the period's days (30 a month on 30/360), then divide by 360 or 365.

3. 3

   Split the payment

   Payment minus interest is principal. Subtract it from the opening balance to get the closing balance.

4. 4

   Stop at maturity

   What's left is the balloon. On an interest-only loan, it's the full principal.

5. 5

   Check against the lender

   Each closing balance should match the lender's statement. Find the cause of any gap before moving on.

Watch the gap between amortization and maturity. Take an illustrative $1,000,000 loan at 7% that matures in 10 years but amortizes over 25. It pays $7,067.79 a month and still owes about $786,000 at maturity, nearly 79% of what was borrowed.

Next, total what falls due in each of the next five years across every loan, balloons included. Put each line of credit in the year it expires, at the amount drawn today. Use fiscal years so the table matches your financial statements.

US accounting rules (GAAP) require these five-year totals in the notes to financial statements. When SEC staff reviewed Huron Consulting Group's 2014 annual report, they asked why it had no debt maturities schedule⁴, citing that rule, ASC 470-10-50-1.

Banks are expected to weigh these dates too. The Office of the Comptroller of the Currency (OCC), which supervises national banks, says a prudent assessment of refinance risk includes “the amount and maturity dates of other debt.”⁵ It names interest-only loans and revolving working capital lines among the loan types most affected.

Start refinancing talks at least a year before any large maturity. Inside 12 months, the balance usually becomes a current liability, which shrinks working capital and can strain covenants that measure it.

Update the schedule at every month-end close: post payments, accrue interest to month-end and record rate resets. Then tie each balance to the lender's statement and the total to the debt on your balance sheet.

Copy each payment into your 13-week cash flow forecast in the week it leaves the bank. When you apply for credit, the business loan application template turns a year of these payments into a debt service coverage ratio.

The template on this page has the register, a payment schedule, the interest accrual and a maturity ladder, filled in for a made-up cabinetry maker. Open it with Edit with AI, and River reads your agreements into the register for you, flagging any term they leave out.