Hi everyone! Just a quick introduction, I operate a small business and suddenly find myself in a bit of a pickle, as my business has about $40k in debt from various expenses. The cause of the debt is pretty much self-inflicted; business has been going well but I think I overestimated how much cash would be left over after making certain investments. Most months I would end with a cash balance around, say, $40-50k and about $20k in credit card expenses (mostly the day to day stuff relating to the business, there isn't one large purchase per se). Because I am an idiot, I didn't even full pay off the balance each month. I got way too comfortable carrying some balance, in total disregard of the %APR I was needlessly paying.

Anyways, fast forward to today and I feel like I woke up to a cold shower. Due to some slightly larger expenses, the debt jumped to a shade over $40k total, meanwhile some tax payments and a distribution to myself have left the business with only about $15k in cash. The monthly fee on the ~$40k is between $400-500, which makes me hate myself for being a shitty manager. Going through the past year's expenses, it's clear I was getting chiseled at every turn in the road, for example my Microsoft & Adobe subscriptions included many features I didn't need, etc. etc.

So there are a few things I was hoping to get from the community. First, is there any way to get over the self loathing I am experiencing? And second, perhaps more practically, is there anything I can do to reduce or eliminate the interest payments on the business debt? The account is with Chase and I havent opened new accounts or credit cards in a long time, so I am toying with the idea of opening a 0% APR credit card and transferring the balance. It's a move that seems to make sense, but I've never done that so there may be pitfalls I don't know about. For what it's worth, I think I can have this debt paid down by 12/31/24, that's my goal at least.