Manage Debt

Understanding and managing good debt vs. bad debt

You may have been taught that debt is a bad thing to have in personal or business finance. The truth is a little more nuanced. Sometimes one kind of debt is better than another, and sometimes the same loan with the same interest rate and terms can be either “good” and “bad” depending how you’re using it. Taking out a “good” loan for a risky investment is still a bad idea for most people.

Whether for personal or business purposes, consulting with a banker or advisor can make things clearer, and even show you how to make more of your debt better. First, a few pointers:

Whether you’re looking for debt to make a leap, or looking to manage debt that’s holding you back, financial consulting with Alerus is a good first step. You’ll work with experienced advisors who have seen it all before and will have ideas to help you make debt work for you instead of the other way around.