Businesses like individuals suffer with too much debt. According to the US small business administration roughly 50% of the small business fails in the 5 years.
Taking the right amount of debt at right time can mean a difference between a business that struggles and one which succeeds.If you cannot bail out your business with private funds you need to identify areas where you can reduce costs.
Stay connected with your customers and seek out ways to increase your exposure and or improve your business model and thus your revenue. contacting every creditor and advising them about the predicament. ignoring your lenders can only make things worst.
To tackle the debt problem its better to act early.