When debt helps and when it doesn't
Debt for assets that produce revenue is fine. Debt for operating expenses is a slow-motion problem.
Good debt
Equipment that increases capacity or reduces cost per job. A vehicle for a new tech. An expansion that has a defensible payback in under 24-36 months.
Bad debt
Borrowing to cover payroll. Stacked merchant-cash-advance positions. Credit cards used as working capital. Once these start, they're hard to unwind.
The covenant trap
Read SBA and bank covenants before signing. Personal guarantees, prepayment penalties, and cross-default clauses are where the real cost of cheap money lives.
Take your version of this question further
This is one operator-tested angle on the question. Your shop, your size, your trade, and your team change the answer. Ask your specific version inside Ask a Shop Owner to get a response grounded in how owners like you actually handled it.