{"ok":true,"canonical_url":"https://dealroom.so/glossary/personal-debt","api_url":"https://dealroom.so/api/public/glossary/personal-debt","data_freshness":{"sba_records_through":"2026-05-31","fdic_records_through":"2026-03-31","dealroom_last_updated":"2026-06-15","timezone":"America/Chicago"},"source_summary":["Public SBA 7(a) loan records","FDIC institution data","DealRoom lender and franchise enrichment"],"term":{"slug":"personal-debt","term":"Personal debt","group":"Reading the business","definition":"This is money owed by an individual, not the business, such as mortgages, car loans, or credit card balances. It impacts your personal financial statement and global cash flow.","what_it_means":"Lenders review your personal debt as part of your overall creditworthiness and repayment capacity for the SBA loan. High personal debt can affect your ability to qualify and may limit your equity injection options, so manage it carefully.","url":"https://dealroom.so/glossary/personal-debt","official_sources":[{"slug":"sop-50-10","title":"SOP 50 10 — Lender and Development Company Loan Programs","official_url":"https://www.sba.gov/document/sop-50-10-lender-development-company-loan-programs","official_label":"View on SBA.gov","authority_tier":2,"publisher":"U.S. Small Business Administration","source_guide_url":"https://dealroom.so/sba-7a/sources/sop-50-10"},{"slug":"sba-form-1919","title":"SBA Form 1919 — Borrower Information Form","official_url":"https://www.sba.gov/document/sba-form-1919-borrower-information-form","official_label":"View on SBA.gov","authority_tier":4,"publisher":"U.S. Small Business Administration","source_guide_url":"https://dealroom.so/sba-7a/sources/sba-form-1919"}],"related":[{"slug":"personal-financial-statement","term":"Personal financial statement","url":"https://dealroom.so/glossary/personal-financial-statement"},{"slug":"credit-report","term":"Credit report","url":"https://dealroom.so/glossary/credit-report"},{"slug":"repayment-capacity","term":"Repayment capacity","url":"https://dealroom.so/glossary/repayment-capacity"}],"related_questions":[{"question":"What if my personal credit score is strong (720+), but I have high personal debt-to-income (DTI)?","url":"https://dealroom.so/sba-7a/questions/what-if-my-personal-credit-score-is-strong-720-but-i-have-high-personal-debt-to-income-dti"},{"question":"Can I use an SBA 7(a) loan to pay off personal debt?","url":"https://dealroom.so/sba-loans/basics/can-i-use-an-sba-7-a-loan-to-pay-off-personal-debt"},{"question":"Can I use an SBA 7(a) loan for debt consolidation of existing business debts?","url":"https://dealroom.so/sba-loans/basics/can-i-use-an-sba-7-a-loan-for-debt-consolidation-of-existing-business-debts"},{"question":"Can I use an SBA 7(a) loan to pay off existing personal debt?","url":"https://dealroom.so/sba-loans/basics/can-i-use-an-sba-7-a-loan-to-pay-off-existing-personal-debt"},{"question":"Can an SBA 7(a) loan be used to pay off personal credit card debt?","url":"https://dealroom.so/sba-loans/basics/can-an-sba-7-a-loan-be-used-to-pay-off-personal-credit-card-debt"},{"question":"Does having a high amount of personal student loan debt affect SBA 7(a) loan approval?","url":"https://dealroom.so/sba-7a/questions/does-having-a-high-amount-of-personal-student-loan-debt-affect-sba-7-a-loan-approval"}]},"caveats":["Definitions represent DealRoom's plain-English interpretation for buyers; verify regulatory terms against the official SBA and eCFR sources listed.","Not legal, tax, or financial advice, and not an SBA eligibility determination."],"citation":{"label":"DealRoom.so Glossary — Personal debt","url":"https://dealroom.so/glossary/personal-debt","source_type":"DealRoom Data"}}