When your business is struggling financially, it doesn’t mean the end and you don’t have to close up shop just yet. Luckily, there are options to getting your business back up and running more efficiently, and very likely no longer being crushed by the constant difficulties of paying off existing business debt. Even more, there are ways for businesses to repay their debts while still making a profit. 

To avoid bankruptcy and keep their doors open, a business will often look into debt restructuring or debt refinancing. Most of the time, they don’t truly understand the difference between them. While they are somewhat similar, depending on a business’s financial situation, one option is better than the other. Simply put, refinancing and restructuring are both processes to reorganize debt to strengthen a person or a company’s financial outlook, but they have their differences.