Running a small business is no easy task, and it can be even tougher when you’ve taken on any debt. Here are some things you should know about running your company with a debt to best ensure success.

1) A large percentage of small businesses fail during the first few years. Avoid this by taking on a reasonable, manageable debt load and making sure all of your revenue streams are covered before borrowing money.

2) There are ways to use debt to your advantage. If a large company is hesitant to work with you, they may be more likely to purchase your debt. This can be an interesting and lucrative way of making money through lending or borrowing in small amounts.

3) Don’t let personal credit scores harm your business. Many creditors will check out the individuals who own the company when they look at it as a whole. If your business goes into the red, that may affect your credit score, which could in turn hurt major future plans like buying a car or house.

4) Try not to borrow money from family members or friends. It can put a strain on relationship and cause serious problems down the road if things don’t go well. If you have to take out a loan from someone you are closely involved with, make sure it’s at an extremely reasonable rate and pay it back as soon as possible.

5) Understanding your loans is imperative. Know when you have to start paying them back, what the interest rates are and how much you owe. Some loans may even charge additional fees for late payments, so be sure to pay on time no matter what.

6) Remember that budgets matter. If you don’t have some sort of plan in place regarding how you’ll pay back the loan (and if there are ways for your business to afford more debt), borrowing money can lead to failure and bankruptcy.